How does it work?
First, all reconciliations of the properties to be put up for sale are prepared with the partner company. These will verify that property has such qualifications that can bring profit to the investor as it is convenient to trade, it does not have any legal issues, it is in demand etc.
A property that meets all the criteria declared above receives approval from our expert team to be created in the metaverse.
All necessary architectural details are to be noted and modeled by our designers to be as close to the real property as it can be.
Modeled property will be divided into NFTs based on its specifications.
The total amount and price of NFTs of a property is going to be proportional to its real-world value/price and these NFTs will be divided into affordable prices that anyone can buy.
Subsequent to minting, an Initial House Offering (IHO) will take place which the allocations will be Rens Token stakers only.
After all the NFTs of the property in the metaverse are sold, it becomes subject to the tax system in the country where this property is located and pays its tax by converting the fund collected for the sale into cash.
Rens Token buys the real estate representing the NFT, giving the partner company the money whose tax has been paid. After this property is purchased on behalf of Rens Token, all earnings and usage rights are distributed to the people who own NFT in an organized way.
After this stage, the Rens Token company is obliged to constantly monitor the Partner company in order to protect the rights of NFT owners.
Rens Token automatically pays the rental income of properties to NFT owners based on the amount of NTF(s) they own.