It’s been just over 4 weeks when we first started the crowdfunding initiative for Digital Landlord, a real estate trading platform running of blockchain technology using SMART contracts. In that short space of time, we have raised over N70,000,000 of the N90,000,000 required to establish value for our digital currency called Annexcoin.
What is Annexcoin?
Annexcoin is the digital currency backed by real estate and easily transacted using blockchain technology. The first thing we wanted to do was to create real value in our digital currency rather than hoping it will establish value just on perception, popularity and adoption alone.
We believe that if we can create a natural appreciation for the value of our digital currency backed by tangible assets like real estate, then the perception of a digital currency you can trust, the popularity of it’s rising value and its adoption in terms of acquiring land and homes using smart contracts will be the icing on the cake, rather than just the main drivers.
In a nutshell, we started with 3,350 sqms of Land in prime location Sangotedo with promising prospects where we could see ROI of between 250% to 1000% based on the structural developments and investments by the Lagos state government over the next 5–10 years. You have the free trade zone, the oil refineries and the new airport coming to the the Lekki Epe express way.
At a discounted price of N90m for 3,350 sqm and a capital gain since October 2017 of 35%, already, it was pretty easy to issue 10,000 Annexcoins at N9,000 per Annexcoin with a 35% increase in value as of Jan 2018.
Now we have a digital currency that appreciates as the asset appreciates and we can now move to phase 2 of the project where we can start building the trading platform where Digital Landlord investors can now sell their Annexcoin for a profit.
What are we going to do with 3,350 sqm of land?
We are going to build 14 units of 4 bedroom SMART terrace townhouses, equipped with solar powered energy for 24–7 electricity a low cost, solving the energy issue for home owners in Nigeria, smart electric gates, security cameras, smart lightening and smart locks all controllable from your smartphone device. We will be targeting Nigerian’s in diaspora looking to move back home in desperate need of the same standard of living they experience in the west, foreign investors looking to house their employees and more rising middle class within the high net worth bracket. To maximise ROI, we will be introducing affordable mortgages by partnering with a mortgage firm, making it affordable for home buyers.
This portfolio being our first is located in Natsville Villa estate, a gated community located in the most rapidly developing Lekki / Epe axis in the Lagos metropolis, proximate to the Novare / Shoprite Mall (Largest mall in West Africa), within Oyetubo Jokotade Estate Layout, Sangotedo, Off Lekki / Epe Express Way), in Ibeju Lekki Local Government Area of Lagos State.
In order to attract the international community, digital identity with social credibility is critical. The average Joe will feel saver his title deed is stored in a decentralised ledger, that is totally encrypted, immutable to hacking and cannot be tampered with. We are living in the Digital age, and average Joe does not want to travel all the way to Africa to make sure his investment is secure, especially if he / she has never been to Africa.
Digital Landlord is going to remove all the hassle involved in investing in real estate in Africa, creating a decentralised ledger and complete transactions in seconds.
With Digital Landlord you can trust the smart contract via a decentralised distributed ledger
So our Annexcoin which is the name of the currency will be tied to our blockchain technology which keeps a decentralised distributes ledger of every single transaction (smart contract title deed) ever made between parties and transfer of ownership.
What does this mean if your are a Tier 1, Digital Landlord investor
It’s pretty easy really, you are what we call early adopters. Just like when bitcoin first started and a few people bought it for say for example $10 and today it’s worth over $10,000 although because it is not backed by any tangible assets, can one day be worth zero. This is not the case for Annexcoin. It’s secured on real estate and it equates to the current value of the real estate. As the portfolio increases and value increases, so does the value of Annexcoin. Then comes popularity as a result of adoption where people start investing in Annexcoin meaning they own a % of the total real estate portfolio, positive perception grows building trust and the value increases beyond the value of the actual capital and capital gain of the overall portfolio. This is where you decide to sell or hold as a Tier 1 investor, knowing that come what may, your Annexcoin can never be lower that the capital growth value of the underlying asset. You win either way.
So what now?
We only have 2,000 Annexcoins left to be sold. Once sold, we hold and wait for the asset to double in value, most likely by the by the end of 2018 and then we launch the Digital Landlord app, where the masses can start buying Annexcoin as a result of the future gain of the real asset once we complete the 14 units at Sangotedo. People will buy into Annexcoin to own a % of the entire unit but at double the price of the Annexcoin you initially bought it at. Why would they invest? Capital appreciation of course and for the same reason people buy cryptocurrencies: perception, adoption and popularity.
At that point we will begin to expand our portfolio, working closely with the Lagos state government to acquire more land and build smart homes, and communities powered by renewable energy. The international community will be able to buy a % of the portfolio using smart contracts and the digital currency of choice will be Annexcoins.
Invest early and earn big tomorrow. Invest in the digital currency of Africa today:
Join the exclusive Digital Landlord group on Telegram while it’s still open to the public until the 5th of February 2018: