Life at a luxury resort: Please, yes. One of Southeast Asia’s top construction firms has recently revealed that they would use a token sale to collect funding for the development of a breathtakingly stunning hotel.
IBN Corp’s real estate tendrils extend across Asia. Malaysia, China, and Singapore are all home to the company. The business has completed many notable projects, including IBN Bukit Bintang — Kuala Lumpur’s highest residential skyscraper.
Their most recent endeavour, dubbed IBN Highlands City, is a billion-dollar endeavour. It will be situated in Genting Highlands, one of Asia’s most well-known summer resorts.
The project will include serviced apartments, commercial space, and five-star hotels. Additionally, they will fund the building by selling tokens.
A premium resort will fundraise via a token sale
According to IBN Corp, asset tokenization “has the potential to expand the pool of investors in the wider market, boost liquidity relative to conventional bonds, and shorten the time necessary to complete significant projects.”
Hasbro is a massive American toy manufacturer. They are developing the property in collaboration with IBN Corp. Hasbro’s portfolio includes more than 1,500 brands. Marvel, Transformers, Star Wars, Peppa Pig, and Monopoly are all included. This hotel will be referred to as a ‘Hasbrotel.’
Luiz Góes, a Brazilian, is the creator of the tokenization scheme that will finance the development of Malaysia’s IBN Highlands City-Fortune skyscrapers. Góes is a co-founder of LGBank and the Chief Executive Officer of LYOPAY.
According to Góes, the Malaysian resort development project “is not just a pioneer in terms of scale, but also a watershed moment for the crypto market and future tokenization ventures.”
Yes, please. One of Southeast Asia’s top construction firms has recently revealed that they would use a token sale to collect funding for the development of a breathtakingly stunning hotel.
“Projects of this magnitude are a consequence of the adaptability and invention that blockchain technology has fostered,” Góes explains. What we are now seeing is a new era of crypto-asset consolidation. Blockchain technology enables the creation of assets (tokens) that are associated with physical projects. The decentralised and global character of the digital economy enables more individuals globally to participate in more transparent and stable initiatives with less cash.”
325,000 tokens will be available for purchase, which are currently accessible on LGBank. The Hasbrotel token (HASHM) entitles users to a portion of IBN Corp. The transaction aims to generate US$325 million and is scheduled to conclude in 2025.