REtokens, a Swiss company focused on tokenizing real estate assets, has collaborated with One Hope of Colorado to tokenize an historic church using the Polymesh blockchain.
One Hope rents a landmark building known as Old Stone Church (OSC), the 1897 church in Fort Collins, Colorado. According to REtokens, One Hope will use Real World Asset tokenization and shares sold to the community will be used to raise sufficient funds to purchase OSC within three years. The initiative marks the first time that a church has been tokenized.
One Hope seeks to raise $2.5 million in its first year as part of an initial phase to accredited investors. The accredited investors will hold it for one year and then sell to the secondary market, comprised mostly of residents in Colorado.
“The idea of tokenizing the Old Stone Church building to allow for community-aided ownership and preservation came into my heart when I started learning about blockchain technology,” said Blake Bush, pastor of One Hope of Colorado. “After a deep dive and speaking with experts in finance, government, and real estate, I’ve realized this transformative technology is indeed the future. It’s a great way to crowdfund compliantly and is reproducible for other communities, who may have a historic building they want to preserve.”
“We are thrilled to be working with Pastor Blake and the One Hope ministry to enable further community investment in Fort Collins, which has a robust, historic downtown filled with a vibrant art, culture and business district,” said Tyler Vinson, CEO of REtokens, who added his company’s platform “is built on the perfect layer one blockchain, Polymesh, which simplifies the tokenization process, reduces counterparty risk and facilitates better compliance and security.”
Photo courtesy Colorado House of Prayer
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