A group of cryptocurrency investors is buying an island and decentralising it for its community. Anyone can participate in the crowdfunding by holding at least one token from the DAO (Decentralised Autonomous Organisation).
First Crypto Island in the Bahamas
Crypto Island is a group of investors that incentivises business, nonprofits and individuals to join its DAO of over 22,000 members. The Crypto Island DAO was born after the success of ConstitutionDAO.
Through crowdfunding, the DAO plans to buy a private island in the Bahamas – Little Whale Cay, 37.6 hectares in the Berry Island group – with a price tag of US$35 million. This would be the first decentralised and community-owned island, with every member of the DAO having membership rights by holding CISLA.
CISLA can be bought only with BNB on PancakeSwap. Members of the DAO will co-own the fully operational private island with its own airstrip. The DAO has already completed all the necessary negotiation and legal works. New investors only need to buy the token to help the DAO reach its US$35 million goal to buy the island.
Benefits of Tokenising Properties
The tokenisation of properties is an emerging real-estate ownership alternative with a wide set of benefits. To name a few, it provides higher liquidity for investors, making it a more accessible market for everyone, along with the benefits of using blockchain technology such as transparency and cheaper transactions.
As Crypto News Australia reported in September, HeroX announced the first tokenisation of property in Australia, offering at least a partial solution to the relatively illiquid real estate market.
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