Q&A — 3: Primalbase ICO
- Where can I find the map of Primalbase offices / workspaces?
You are very welcome to come visit Primalbase workspace in Amstеrdam. The address is Helicopterstraat 25, 1059CE. If you wish to pay a visit, please reserve the time by calling our location manager (see the website) and one of our colleagues will gladly show you around and tell you more about Primalbase.
The next four of our stylish and functional locations will be opened in Berlin, London, New York, and Singapore. Please check out our Roadmap and sign up for a newsletter at primalbase.com to be the first one to know about the launch of the next Primalbase workspace.
2. Who will make a decision concerning opening of new locations? How the process will be organized?
The decision concerning new Primalbase locations will be made based on the interests and needs of Primalbase community members. They will be able to vote for the next location using a mobile app.
We get a lot of tips from our colleagues from startups, IT and fintech companies on where it would be best to set up shared workspaces for tech projects. Most frequently they mention Toronto, Hong Kong, Tokyo, Prague, Barcelona. It does make sense to consider these cities, however, once again we will base our decision on the voting results.
3. I don’t have chance to visit right now, so virtual tour still demanded.
4. Could you please advise if the offices for the remaining 4 locations have been finalised or are you still searching for suitable premises? Procuring real estate can be a long process at times and it would be nice to know that you are able to meet the deadlines stated on obtaining your locations.
We do have a clear understanding of the real estate market in Berlin and London. And we will certainly have enough time to delve into the real estate markets in Singapore and New York. We have no doubts about our ability to meet the deadlines announced in the roadmap.
5. How many workspaces/offices there will be per location?
Every Primalbase workspace arrangement will depend on the location and demand. Generally, offices will be up to 2000 square meters with a number of workspaces and private offices for project teams. The exact configuration and design will be determined by the demand but it will be flexible enough to be adjusted to our residents’ needs.
6. Bitcoin ATM would be good at every Primal Base workspaces.
We haven’t thought about it yet but if we see such demand, we will certainly consider this addition to our offices.
7. How much do you need for become a sustainable business?
We need to have 1000 PBT sold out to sustain the business at the initial stage of its development.
8. What happens if all the coins sells out during the first day of the ico, you would get %40 less of what you were aiming for? Wouldn’t it be harder for you in terms of company’s finances?
We hope that all 1000 PBT will find their owners. If it happens during the first day of the ICO, it will prove that there is a strong interest in the project, a strong community, which is going to be at the core of our project.
9. Is it also possible to buy for example 0.1 Primal Base Token?
It certainly is — the smallest fraction is 0.0001 PBT, which brings a number of benefits. On the one hand, owning 1 full PBT token gives you an access to infrastructure. On the other hand, a small fraction can be used as a financial instrument, which can be traded, sold or rented out. PBT token will be tradable on exchange platforms. Even a small fraction of PBT token is going to have a significant value because this small part will be missed by someone to make it a full token.
10. If an investor was to invest in 4 tokens for the office, how long would the term be for? Would there be a legal contract provided as a proof of tenancy/lease agreement for investors?
4 РВТ owned by one person give exactly the same access to Primalbase workspaces as 1 PBT, meaning without any limitations as to geographical location and timeframes. Please consult our Whitepaper at primalbase.com
11. What does exactly token rental mean? This is the first time I’ve heard it, and it sounds interesting.
Indeed, this is a new functionality for blockchain tokens. Similarly to leasing of Waves, it will be possible to rent PBT tokens.
12. For how long are you able to use the space that the 1 token grants you? — e.g. can you only use the space 1 month in a whole year? Or is the space actually yours for ever for 1 token?
There are no limits as to for how long a token holder can use the workspace. It is available at any time and for any duration that is needed. The membership is lifetime, unless the token holder decides to sell the token.
13. Do we own the building/land/etc?
No, possessing a token does not make you a property owner. A token holder is considered as a Primalbase community member having an access to Primalbase infrastructure and services.
14. How the liquidity of token is ensured?
The liquidity of token is ensured by the steady and strong interest to the project, limited amount of tokens, quality of product, and finally, repeating buybacks of PBT tokens.
15. Can Primalbase rent tokens? What is the mechanism of profit generation in this case?
Tokens reserved by Primalbase (250) will be directed for support of the community and some social projects, primarily to those blockchain-related, support of researchers, developers and core developers, as well as maintaining the interest in the project.
16. Since PBT holders have a limitation of leasing their token for a minimum of 3 months on waves dex I am assuming, Primal Base will be having the option to rent out office space at daily / monthly rate with no limitations
Primalbase will be leasing reserved tokens according to the same rules and conditions as any other token holder, meaning that the minimum duration of leasing will be still 3 months. If we are talking about renting offices within classic real estate part of Primalbase project, conditions for renting offices will be rather flexible, similar to existing shared workspace projects. WeWork is a great example here.
17. Will Primalbase look to adjust prices of office spaces in the future with respect to supply and demand based on countries. For example 1.2 PBT for a coworking space in New York, due to constant high demand.
Again, if we are talking about the part of our project which implies classic real estate relationship, certainly, we cannot and should not universalize prices. Looking at the example of global retailers one might notice that pricing policy varies depending on the country and market conditions.
As for the tokenized part, you don’t rent a token in New York or Berlin specifically — you rent a token which gives you access to ALL Primalbase locations. It does not give you a local access but an access to the infrastructure all around the world.
18. Who sets the rate for renting a token?
A token holder as there is a variety of scenarios.