BrickMark buys $ 134 million building and converts to blockchain investment project

A building on Zurich's most exclusive shopping street has been converted into a blockchain-driven investment project following its sale of 130 million Swiss francs ($ 134 million). The building was acquired by real estate investment company BrickMark, which has issued digital tokens backed by bonds that investors can purchase and eventually use for trading to get a share of the building's rental income 羹And increase its sales value. BrickMark provided seller RFR Holding with a batch of newly created tokens that provided 20% of the funding for the transaction. This means that the RFR will hold part of the future proceeds of the building.
According to reports, the purchase is part of a global real estate investment portfolio worth more than CHF 1 billion in the company's plan. BrickMark is seeking to obtain 50 million euros in cash reserves from investors, but also intends to use its tokens for more More acquisitions provide partial financing.