What's IA Tokens?
IA Tokens is short for Instant Assets Tokens (IAT). The concept is a form of real estate tokenisation whereby the tokens are backed by real-world properties using Blockchain technology through the development of the IAT Platform.
The tokens will be released via Initial Coin Offering or ICO on the Ethereum network and will be ERC-20 compatible. Majority of the funds raised from this ICO will be used to acquire properties in Philippines initially, taking advantage of the property boom.
What distinguishes IA Tokens from existing projects?
The aim of IA Tokens is to make property investment easily available to the masses by eliminating traditional barriers such as transaction costs and time, price transparency, and entry to market.
IAT's differentiating factor is that the target markets that they're focusing on are developing countries with emerging real estate industry displaying high rental returns and high potential capital growth. The team has existing businesses in the region that's already operational and profitable:
DigiAssets Pte Ltd
- Registered in Singapore
- Will be solely in charge of the management of Instant Assets Tokens (IAT)
Realty Beacon Philippines Inc.
- Registered in Philippines
- Will be managing properties pegged to the IAT platform
- In the last five years, founders of the company have transacted over $1 billion pesos worth of properties
The team has also secured several millions in strategic partnerships as they prepare to start IAT platform development in Q4 2018.
How does the IAT system work?
The IAT ecosystem aims to revolutionise various areas of the real estate market. As such, the IAT platform will be providing and supporting the following utilities:
- Rental Payment
- Partner Merchants
- Purchase of Assets
- Payment for Asset Management Services
- Payment for Furnishing
- Payment for Tax Advisory and Services
- Payment for Legal Services
- Payment for Agent/Broker Commission
- Listing of Assets for Sale or Rent
- Receiving Rental/Sale Proceeds
- Receiving commission for Agents/Brokers
For more information, take a look at their whitepaper where they've illustrated a few use cases.
What's NIAT and why is it needed?
NIAT are ERC-20 tokens that power the IAT platform. Remember the utilities we talked about earlier on? They're all facilitated using NIAT as a currency that resides in each individual country's real estate market and will be pegged against the country's native currency.
In other words, each country will have its own NIAT that are local token equivalent of the IA Tokens. These NIAT will not be minted on its own and can only be purchased using IA Tokens. This protects users from the volatility of IA Tokens in the cryptocurrency market.
About the IA Tokens sale
The total supply of IA Tokens is 4.5 billion, not factoring the tokens that will be burned at the end of the sale. The crowdsale is happening on 15 June 2018. Price of IA Tokens will be pegged to US$0.01 per token. Price of 1 ETH will be taken 1 day before the start of the ICO and will be then applied to all participants. The tokens will be distributed 14 days after the end of the ICO.