Alt.Estate Completes ALT Token Sale and Shares 9 News
Congratulations to all the backers, supporters, partners, advisors and ALT Team members! We are proud to announce that the ALT token sale is over. We’d like to make a few important announcements and answer the most frequent questions from our community.
When will the tokens be distributed? What about the exchange listings? What is the current status and next steps in platform development? Bear with us to know more!
1. How Does ALT Tokens Distribution Work?
Even in the rough waters of crypto market, your support allowed an overall supply of 1,069,639,374 ALT tokens. Those are distributed to the publishers, contributors, bounty community. They are also partly reserved for the network growth, ALT.Estate team and advisors.
You can check the allocation details at the diagram below:
We got the worldwide support from over 55 countries. Our contributors came from the United Arab Emirates, United Kingdom, Australia, Germany, South Korea, Poland, Japan, Russia, Spain, France, Canada, Brazil, Switzerland, Philippines and many other countries.
Below are some interesting stats. Austria and Germany were leading with the highest average purchases — thanks for support!
On the other hand, we had Argentina and Gibraltar as the most considerate spenders.
Bitcoin fans, rejoice! Most ALT token buyers in Kenya and Ukraine made their purchases with bitcoin.
While Australia, Japan and Austria were standing strong on buying tokens with Ethereum.
2. How Do I Get My ALT Tokens?
2.1. Guide to get the tokens
You can download the detailed guide and follow the instructions
Since early August we will be issuing ALT tokens on the weekly basis to each community member who has successfully passed the KYC procedure. We plan to cover the whole distribution process in 4–8 batches, so the vast majority of tokens will be distributed in 2 months.
2.2. How to pass the KYC?
KYC stands for ‘know your client’ procedure. Since token sale agreement does not allow US citizens and other restricted persons to participate in the sale, the KYC procedure allows to verify citizenship and make sure the token holders comply with those rules.
KYC is a piece of cake: it takes only 5 minutes and is required by the banks and exchanges. Huge part of ALT token holders have already successfully completed the KYC procedure.
A link to KYC is available under the Profile section of your Alt.Estate personal account.
KYC procedure requires you to upload two scanned documents. Have your passport (or other government issued ID) and a second document at hand to verify your current place of residence. All the scans as well as other personal information is stored confidentially on Amazon servers in an encrypted form.
The uploaded documents are then verified by our compliance team. Sometimes we ask for additional clarifications. As soon as everything is confirmed, we issue the tokens to the ERC-20 wallets you specify in the dashboard. Everything is easy and straightforward.
3. Listing ALT on Exchanges
If the market is bullish, it makes sense to start listing from the large exchange. However, if the market stays bearish, the listing on a mid-size exchange is a better option to gradually grow the trading volume and then list on the larger exchange. Our approach is to find the best combination of liquidity, reputation and reliability.
Please stay patient, we will share more news in the next 3–4 weeks. Of course, listing on some low-quality exchange with no liquidity, shady rules and no reputation would have been easier, but it’s not our way.
So, the decision is yet to be made — join the Alt.Estate Telegram group and be among the first to know.
4. Platform Ongoing Development
Thanks to the support of our community and investors, the amount raised during the token sale allows us to develop all the critical components of ALT.Estate protocol.
To make the development efforts more targeted we’ve decided at the current stage to focus more on the real estate industry customers’ and partners’ requirements. Our team is now partnering with real estate development companies in several jurisdictions worldwide to launch the crowdfunding and sales projects running on ALT.Estate Protocol.
This focus requires our R&D team to focus more on the Application and Interface layers. At the current development stage the platform architecture is based on Ethereum and is organized in the following way:
We consider including up to 3 modules from the following list in to the beta platform release planned for H2 2018:
- The Property Marketplace is already available in the beta version of the ALT.Estate. Our team is currently considering the following functionality improvements: a wider set of properties, be more connected with geo services (i.e. Google Maps), improved representation of property outlooks, costs, current statuses, etc.
- The Seller Dashboard as a single endpoint for sellers which makes it possible to list and manage the properties on the ALT.Estate Platform. The module is currently required in several potential projects our team currently works on.
- The Investor Dashboard is already available in the beta version of ALT.Estate platform and will be further improved according to our customer development conclusions.
You can find more details on the module development in the ALT.Estate Whitepaper.
As we’ve extended the token sale period in response to the poor market conditions, it is clear now that the platform development schedule will also have to be adjusted. Our R&D team is currently looking at he options and we will come back with more details soon.
5. New Developments and Partnerships
Expanding the global presence
In order to make a global impact, we continue to interact with the industry leaders worldwide. We have recently finished a successful roadshow in Hong Kong, Shenzhen (China), Seoul (South Korea), and Singapore — and that’s just the beginning!
Negotiations with potential customers
Alt.Estate team had promising negotiations with yet to be disclosed real estate development projects in UAE, Canada and Europe.
Institutional partnerships in progress
Alt.Estate is building the future of real estate on the Blockchain, and we are working fast to be closely integrated with the most established Blockchain projects. Our team makes progress in using Stellar and NEM to increase the flexibility of our Real Estate tokenization framework and legal framework. We investigate the listing on the Bancor Network for increased tokens liquidity and convenient trade. We negotiate the partnership with EOS for increased ALT Protocol stability and scalability.
Real Estate Blockchain Institute of Korea membership
It is an honor for us to become one of the first members of the Real Estate Blockchain Institute of Korea, the entity which focuses on expanding the use of Blockchain in real estate from legal, technological and marketing perspectives.
6. What Are the Results of ALT Token Sale?
The KYC, token distribution and settlements with resellers are still in process, but we can announce the preliminary results.
As of July, 31, the total amount equals $4,593,121. We have accepted payments in several crypto- and fiat currencies (BTC, ETH, NEO, USD, EUR etc.) As the crypto markets were volatile during the sale we’ve calculated the preliminary results based on the corresponding exchange rates when contributions were made over this period.
The final amount will be determined only after all the contributors pass the KYC procedure (minus rejected users), and settlements with the resellers are finalized.
7. What Are Your Plans With ALT Token?
We strongly believe that successful growth of the ALT.Estate ecosystem will be fueled by empowering the existing relationships and interactions on the Real Estate market and making them more efficient at the same time. This leads to revenue, higher adoption and awareness and ultimately results in higher liquidity and token demand growth.
Therefore in accordance with the go-to-market plan outlined in the White Paper, we are focusing on customer and market development. Modules and platform development for the verified use cases will follow. The 3 primary hypothesis we are focused on right now include:
- Using ALT.Estate protocol to enable the crowdfunding and fundraising for the new real estate projects. The projects we have under development in this direction include tokenization of Real Estate using the ALT.Estate protocol, implementation of the legal framework as well as using ALT.Estate front-end components, seller and buyer dashboard.
- Efficient maintenance and management of real estate ownership registries on the country, community or city levels. Real estate development today stands on data management, long-term planning and takes a lot of factors into consideration. It becomes common that huge areas and even new cities are developed from scratch creating enormous pools of data which should be managed transparently and reliably. We work with several nation level projects to understand their requirements and deploy ownership registries for them which are based on ALT.Estate Protocol.
- Unlocking the real estate investment and purchase opportunities for crypto community. The unprecedented rise of cryptocurrencies in the last years brought to the existence the whole new community of crypto currency owners. Even with the depressed market we currently witness the net value of this community is amazing and we are committed to develop the easy and bulletproof ways for them to purchase Real estate with cryptocurrency and with no headache.
Any of these directions could eventually generate significant amount of transactions and therefore increase the demand and value of ALT token. We will be announcing more details regarding this functionality modules in the nearest time.
8. Media Attention
Alt.Estate was featured in key media from in USA, China, Korea, and Russia.
A big thanks to all the reporters showing interest in Alt.Estate — here are just a few amazing media features we’ve received:
9. Community Growth
Telegram community grew 13,7 times during ALT token sale to 75K+ members. Those include 1000+ bounty participants, 6500 Twitter and 5553 Facebook followers.
The input you gave us is awesome. We’ve answered 8543 questions in our public channels and had a few thousands of Intercom dialogues. On average, you generated a decent 17.42 messages per active user. Our community managers work hard to maintain our 5 minute response time standards, and we’re always happy to see a new question alert.
