{"id":49496,"date":"2019-10-31T08:47:11","date_gmt":"2019-10-31T06:47:11","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=49496"},"modified":"2019-10-31T08:47:11","modified_gmt":"2019-10-31T06:47:11","slug":"overstocks-sto-platform-tzero-and-tezos-foundation-to-tokenize-500-million-in-real-estate","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/overstocks-sto-platform-tzero-and-tezos-foundation-to-tokenize-500-million-in-real-estate\/","title":{"rendered":"Overstock&#8217;s STO Platform tZERO and Tezos Foundation to Tokenize \u00a3500 million in Real Estate"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Utah-based Overstock, a large online retailer for brand names at clearance prices, revealed that its security token platform tZERO has teamed up with the Tezos Foundation in order to launch an initiative that aims to tokenize \u00a3500 million (appr. $643 million) in various real estate projects.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In collaboration with <a href=\"https:\/\/twitter.com\/TezosFoundation?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@TezosFoundation<\/a> and Megalodon, tZERO is excited to partner with <a href=\"https:\/\/twitter.com\/allianceinv?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@allianceinv<\/a> to provide technology services to tokenize River Plaza, the UK\u2019s first real estate-backed security token offering (STO).<a href=\"https:\/\/t.co\/dnTTA9cuG1\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/dnTTA9cuG1<\/a> <a href=\"https:\/\/t.co\/a0Vrf396eP\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/a0Vrf396eP<\/a><\/p>\n<p>&mdash; NOT OFFICIAL &#8211; FOLLOW @tZERO (@tzeroblockchain) <a href=\"https:\/\/twitter.com\/tzeroblockchain\/status\/1189520630070181889?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">October 30, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ We are thrilled to work with <a href=\"https:\/\/twitter.com\/tzeroblockchain?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@tzeroblockchain<\/a>, <a href=\"https:\/\/twitter.com\/allianceinv?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@allianceinv<\/a>, and Megalodon to tokenize \u00a3500m of real estate assets across the UK on <a href=\"https:\/\/twitter.com\/tezos?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@tezos<\/a> over the next several years.<a href=\"https:\/\/twitter.com\/hashtag\/Tezos?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#Tezos<\/a><a href=\"https:\/\/t.co\/rpwYq4Wf9F\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/rpwYq4Wf9F<\/a><\/p>\n<p>&mdash; Tezos Foundation (@TezosFoundation) <a href=\"https:\/\/twitter.com\/TezosFoundation\/status\/1189538079066996736?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">October 30, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p>tZERO CEO <a href=\"https:\/\/www.linkedin.com\/in\/noursalehi\/\" rel=\"nofollow noopener\" target=\"_blank\">Saum Noursalehi<\/a> remarked:<\/p>\n<blockquote><p><em>\u201cWe believe that asset tokenization will revolutionize the real estate sector. We applaud Alliance Investments for spearheading one of the world\u2019s first real estate-backed security token offerings. Tokenization of real estate will democratize access and greatly enhance liquidity for this asset class.\u201d<\/em><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Announced on October 30, tZERO and the developers of Tezos will be tokenizing select portions of real estate. The project has reportedly been funded by UK-headquartered Alliance Investments, and will soon be offered to investors.<\/span><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/rani-zahr-93052275\/?originalSubdomain=ae\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400\">Rani Zahr<\/span><\/a><span style=\"font-weight: 400\">, chief information officer at Alliance Investments, stated:\u00a0<\/span><\/p>\n<blockquote><p><em><span style=\"font-weight: 400\">\u201cRaising funds through a security token offering (STO) is more efficient, cost-effective, autonomous and democratic than traditional financing. We believe that we are at the forefront of a technological change that can disrupt the current funding paradigm.\u201d<\/span><\/em><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">The first STO is scheduled to take place early next year, when tZERO\u2019s management will distribute tokenized securities representing \u00a320 million (appr. $25.8 million) in equity of a water-front property that\u2019s being developed in Manchester.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In statements shared with <\/span><a href=\"https:\/\/www.coindesk.com\/tzero-tezos-foundation-to-tokenize-500-million-in-uk-real-estate\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400\">Coindesk<\/span><\/a><span style=\"font-weight: 400\">, <\/span><a href=\"https:\/\/www.linkedin.com\/in\/roman-schnider-98930361\/?originalSubdomain=ch\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400\">Roman Schnider<\/span><\/a><span style=\"font-weight: 400\">, chief financial officer at the Tezos Foundation, noted: <\/span><\/p>\n<blockquote><p><em><span style=\"font-weight: 400\">\u201cThis one building, a large multi-storage development, [is a] first for Alliance, but represents a large pipeline that they intend to fund using STOs.\u201d<\/span><\/em><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">The Tezos protocol will form the foundational layer for \u201cdeploying, transferring and storing the digital assets and smart contracts,\u201d which will be available in secondary markets on the PRO Securities alternative trading platform (developed by a US Securities and Exchange Commission-licensed subsidiary of tZERO).<\/span><\/p>\n<p><span style=\"font-weight: 400\">The companies said that they\u2019re planning to tokenize various other real estate properties in the coming years. These properties may include residential and student accommodations. Commercial and hospitality properties may also be tokenized in the future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Business development consulting firm Megalodon will be serving as an advisor for these projects.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Utah-based Overstock, a large online retailer for brand names at clearance prices, revealed that its security token platform tZERO has teamed up with the Tezos Foundation in order to launch an initiative that aims to tokenize \u00a3500 million (appr. $643 million) in various real estate projects. In collaboration with @TezosFoundation and Megalodon, tZERO is excited to partner with @allianceinv to provide technology services to tokenize River Plaza, the UK\u2019s first real estate-backed security token offering (STO).https:\/\/t.co\/dnTTA9cuG1 pic.twitter.com\/a0Vrf396eP &mdash; NOT OFFICIAL [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":49497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[826,17],"tags":[7313,5354,7312,7310,7311,7307,7308,3418,7309,1430],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/49496"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=49496"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/49496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/49497"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=49496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=49496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=49496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}