PlaceToRent ICO Review - Decentralized Rental Platform
PlaceToRent, a real estate rental platform that utilizes blockchain technology, stands poised to disrupt the rental industry with its ability to leverage blockchain and machine learning technology to facilitate real estate deals, with a particular focus on millennials. The decentralized real estate platform recently announced the launch of its initial coin offering (100) for its own cryptocurrency token PTRT, which is a token that allows users of its platforms to access the services being offered on the platform.
About PlaceToRent
The Panama-based company relies on blockchain and machine learning technology to offer millennials and individuals with less financial resources a much-needed alternative to easily access reliable and valuable real estate rental information related to pricing, tenants, listings, and trends. It also facilitates transactions using smart contracts, thus ensuring transparency and security, and removing the need for costly intermediaries that hamper millennials' ability to access the right rental options. PlaceToRent also has a highly enviable team of professionals and advisors from across the world, with specializations in various fields of blockchain, Al, real estate and retail.
PlaceToRent ICO
PlaceToRent launched the pre-sale process of its ICO for its PTRT cryptocurrency tokens on June 4 to help determine the amount of interest in the market for its platform. It also seeks to use the pre-sale process to raise the necessary funds to fuel its marketing plans The ICO pre-sale is scheduled to end on July 3, midnight Pacific Standard Time The main public sale of its PTRT tokens take effect immediately thereafter, from July 4 through September 25 or earlier, if the amount of funds raised through its ICO meets its target of $30 million. Its soft target for funds to be raised from the token sale is $1 million. Through its ICO. PlaceToRent is offering 62% of the total 100 million PTRT tokens available. The remaining PTRT tokens available are being allocated for company reserve (20%), its advisors (5%), its team (10%), and for its bounty program (3%), which is a program that allows participants to share details of the platform's progress and development.
As part of its ICO, PlaceToRent is offering investors the opportunity to buy PTRT tokens using both Bitcoins and Ethereum, with the exchange rate set at 500 PTRT tokens for 1 ETH. The token sale requires a minimum purchase of 100 PTRT tokens at the rate of 0.2 ETH coins. PlaceToRent may also choose to extend the last data of its ICO process, with each such extension likely to be around 30 days. The platform expects to use the funds from its token sale to significantly enhance the technological advancement of its decentralized token-based real estate platform and help fuel its marketing plans and expansion ambitions across the globe.
PlaceToRent ICO Positives
The real estate platform offers market participants in both the commercial and residential rental space a decentralized ecosystem that ensures transparency, accuracy, and real-time transactions using its PTRT tokens and smart contracts. With the use of blockchain technology, the platform helps potential real estate clients find a fast, efficient and cost-effective way to capitalize on the best opportunities available in the rental market, without the need for costly intermediaries or complex set of separate transactions.
PlaceToRent's main USP is its ability to provide millennials or underserved communities the option to choose from a number of rental options available, using an effective hybrid forecasting model that is best suited to help the needs of young rents with limited to no credit history. The platform also utilizes machine learning capabilities to enable landlords to accurately evaluate the creditworthiness of potential tenants. This non-conventional mode of making background checks and verifications when screening tenants is a powerful tool that is likely to disrupt the real estate rental market, paving the way for landlords to find new opportunities that were earlier out of consideration. The platform also provides potential tenants that have passed the screening test the opportunity to finance their own rental expenses using built-in features on the platform.
Potential Threats
The real estate rental space and the cryptocurrency space is rife with innumerous new inventions and innovations. This means, PlacetoRent will also have to face growing competition in the marketplace and keep its offerings unique to stay competitive and differentiate itself in the market.
Conclusion
PlaceToRent's uniquely disruptive nature and ability to make new headways into the vast and untapped market opportunity in the underserved millennial population makes it stand out from others in the market. That makes its ICO one of the best bets in the market today.
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