In Part II, we covered REX, one of false promise in Real Estate and Blockchain space. This time, we will cover another idea in real estate space who recently hosted ICO – REAL Token.
Another Ethereum based Token promising to build product which will allow Real Estate investment using Blockchain. According to their initial announcement – They are creating a Real Estate investment ecosystem mixing two of the latest most successful disruptions: Real Estate Crowdfunding and Blockchain Technologies. Really REAL? We don’t think so.
Their, both Team introduction video and and crowd funding explainer video are not available on youtube anymore – https://www.youtube.com/watch?v=5KcFaSB1nKs and https://www.youtube.com/watch?v=_50nZyUc3KA
ICO raised about 37,064 ETH, so about $11 million as per the price of Ethereum.
So far team is not reachable to investors with their questions and concerns. They have published some mockup’s at https://www.dropbox.com/s/hrjnayme28tjrmp/REAL.pdf?dl=0
May be REAL’s team is working internally without much of updates on their production but meanwhile the value of REAL token have declined substantially and it holds about $4 million in market cap only.
We have seen their roadmap published on their twitter account, but really if they are working on mock ups and no product in near sight, maybe investors are loosing patience.
This is why we are saying do not invest in ICO’s who do not have working product, its like giving money for their experiments or maybe just making them rich.
So we would love if someone form REAL token can comment on this blog or respond to our and other investors concerns.