Smartlands Platform Calls for Vote on Upcoming Security Tokens

Smartlands has built a portfolio of real-world assets and has put forward a vote to decide on the issuance of security tokens.

The Smartlands platform is aiming to launch some of its first Security Token Offerings (STO), and is calling for a vote on pipeline projects. Smartlands offers the community five projects for preview and voting, as the team explained in a recent blog post.

The vote on selecting the next project for an STO will be open to all Smartlands (SLT) token owners. However, the voting process will only begin after Smartlands is certain about the regulations on launching security tokens. Due to increased interest from Asian investors, in the future, voting on the platform may also be accessed through Binance Coin (BNB).

For the moment, Smartlands is also not disclosing all of the information about the assets to be tokenized, and is waiting for permission before tokenization:

“Unfortunately, until the Platform’s offer is accepted by the owners of assets in consideration for tokenization, for legal reasons Smatlands Platform is unable to disclose all available information about the assets.”

The voting, scheduled to start on November 1 on the Smartlands platform, will be based on general information of the potential project to be tokenized. The projects include residential property in Manhattan described as a luxury building including “1800 useable square meters with one elevator, 20+ residential units and a commercial space ideal for a retail operation”. On offer is also a logistics ce nter in Warsaw, Poland; a commercial and office building in Vilnius, Lithuania; a coal mining company based in Kentucky, USA, as well as an industrial unit in London, UK.

“Real estate has always been one of the best-performing assets whose competitive dynamic makes it an ideal target for tokenization. The equity locked in a property due to debt or any other obligations can be quickly and easily released through the issuance of tokens, which will represent the value that can change hands on a trading platform at any given time. This kind of liquidity in an otherwise illiquid asset is rightly considered a Holy Grail of investing,” explained Smartlands in a blog.

STOs are seen as an alternative to utility token crowdsales, this time offering real-world underlying value to the digital token. The drive for STOs follows the crash of the ICO model, as funding dried up further this October.

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