This cryptocurrency is built for the fractional real estate sharing economy of the future
FOHO Holdings Inc., a Canada based company promoted by Tangentia, and the Tripvillas Group, announces the launch of FOHO Coin as the new revolution in the fractional crypto-real estate space. They are all set to innovate, disrupt and transform the game. The FOHO Coin IEO is set to launch on July 27, 2021 on Ascent, by Bitbns FOHO Coin provides the foundation of the FOHO sharing economy. It is, as the founders describe, the ‘Lifeblood’ of the FOHO Ecosystem. The ecosystem is based on fractional sharing of real estate rentals and experiences with fractional ownership of residential and commercial real estate.
The FOHO Ecosystem comprises the (1) FOHO Coin: a special crypto currency that is the lifeblood of the FOHO Ecosystem which is used to transact with FOHO marketplace participants and rewards early adopters and good ethical behaviour. (2) FOHO Haus: is the block chain-based residential real estate marketplace that allows users to buy and sell fractions of residential property. (3) FOHO Work: is similar to FOHO Haus but allows investors to buy and sell fractional portions of commercial assets like office spaces, warehouses, retail, hotels, wineries, farms and plantations. The usage-only portion of the FOHO Ecosystem is the (4) FOHO Club: which allows anyone to create a club where like-minded people join to share the usage of a real estate asset or experience.
These could be rentals of holiday homes from FOHO Haus or commercial properties from FOHO Work or properties or experiences from outside the FOHO ecosystem. The FOHO Haus and FOHO Work marketplaces will allow traditional realtors, lenders as well as a few new market participants like deal sponsors to work together to allow fractional real estate participants to trade with confidence on a trusted platform. FOHO Club would be the first to launch followed by FOHO Haus and FOHO Work, in the future.
The FOHO Coin is a utility token that can be used to purchase fractional interests in real properties or else to subscribe to usage clubs where the holders can use real assets. The FOHO Ecosystem mimics real world ownership of properties and owners can vote on key decisions change the manager of the property and vote to sell the property. FOHO’s focus is to make participants accountable and to bring transparency and lower transaction costs on the platform. FOHO will shortly be announcing additions to its advisory board.
FOHO aims to build a blockchain-based transparent and trust-incentivising system. The FOHO platform uses the wisdom of crowds to uncover deals, while holding sellers, sponsors, organisers, realtors, lenders and other market participants accountable. FOHO is enabling the fractional real estate ecosystem of the future and the FOHO Coin is the first step to entering this shared economy.
Tangentia is a world-leading provider of digital transformation solutions headquartered in Toronto, Canada. The company has helped 100s of entities including 13 Fortune 500 companies to simplify their business and make an impact using cutting-edge technologies, including Artificial Intelligence, Robotic Process Automation, and Blockchain.
Tripvillas Group is one of Asia’s largest holiday homes rental companies headquartered in Singapore. Over the years, the group has complemented its core business with other arms to serve the Holiday Home industry in Asia FOHO was founded in 2019 in Goa and raised capital from Tangentia Ventures. It rapidly gained initial traction with deals in Goa and Sri Lanka. In 2021, it received further backing from Tripvillas – a leading manager of vacation home communities with over 5000 homes under direct management across Asia and Europe. New openings by Tripvillas during the pandemic include Goa’s largest real estate development – Rio De Goa and Kenisha Holiday Homes, Khopoli. In addition, Tripvillas also owns one of the largest repositories of intelligence on international real estate through its ownership of the Holiday Home Times.
According to Vijay Thomas, founder of FOHO Holdings, “When we started FOHO Haus in 2019 in Goa, we thought that we had a winning formula to democratise real estate investments globally. We were only dividing properties into 10-12 fractions each. In 2021, we have embraced Blockchain and Crypto and now the same properties can be fractionalized into 10,000 or more fractions easily and I stand corrected, now this is true democratisation of global real estate investment and usage.”
Roshan Dsilva, founder of FOHO Holdings says, “FOHO will bridge the gap between the real world and crypto currencies and allow for a safer, more decentralised way to invest in hard assets. Our focus is to ensure that the best deals come onto the platform. We believe that both sellers and investors will see the value and FOHO will become the place to invest in properties.
We are happy to conclude our agreement with Bitbns to launch our initial exchange offering on their platform for Indian investors and will shortly announce subsequent listings elsewhere. ”
Jason Fernandes is an entrepreneur, speaker, well-known blockchain industry figure and advisor to FOHO Coin. He founded FinTech media outlet TokenJay.com, internet portal ZeoCities.com and co-invented the world’s first Internet-based DVR, RecordTV.
Chandan Kumar has been a professional financial markets trader for over 15 years and runs analgorithmic trading consultancy. He is a consultant with Bitbns – one of the largest crypto-exchanges in the world.
Floyd Tavares is an award-winning marketer. He co-founded Dranding Consulting and is an MBA in marketing with over 10 years of experience in building brands; both online and on-ground. Dranding Consulting has successfully transformed many brands in gaming, hospitality, technology, education and engineering space.
With a strong backing and advisory board, FOHO Coin, which will run on the Ethereum block chain. While already making waves, it is set to democratize real estate ownership and usage worldwide.