Luxury Resort in Malaysia Will Raise Funds to Build by Selling Tokens
Luxury resort life: Yes please. One of the largest construction companies in Southeast Asia, have just announced that they will raise funds to build a wildly beautiful hotel via a token sale.
IBN Corp has its real estate tentacles across Asia. It has a presence in Malaysia, China, and Singapore. The company has some impressive developments under its belt, including IBN Bukit Bintang – the tallest residential building in Kuala Lumpur.
IBN Highlands City
Their latest project, called IBN Highlands City, is a billion-dollar project. It will be located in one of Asia’s most well-known summer resort – Genting Highlands.
The project will have serviced apartments, commercial areas, and 5-star hotels, all falling into the luxury category. And they will be paying for construction by selling tokens.
IBN Corp say that asset tokenization “has a potential to increase the number of investors in the broader market, grow liquidity compared to traditional bonds, and reduce the time required to execute large projects.”
The Hasbro connection
Hasbro are a giant American toymaker. They are partnering with IBN Corp in the development. Hasbro has more than 1,500 brands in its portfolio. This includes Marvel, Transformers, Star Wars, Peppa Pig, and Monopoly. This hotel will be a ‘Hasbrotel.’
Luxury resort: The Crypto Connection
Brazilian Luiz Góes is the developer of the tokenization project that will fund the construction of the IBN Highlands City-Fortune towers in Malaysia. Góes is the co-founder of LGBank and CEO of LYOPAY.
Góes says that the resort construction project in Malaysia “is not only a pioneer in its magnitude but also a turning point in the crypto market and future tokenization initiatives.”
Luxury resort life
Góes says, “Projects of this dimension result from the plasticity and innovation that blockchain technology has been generating. What we are experiencing now is a new phase of consolidation of crypto-assets. Blockchain technology allows the creation of assets (tokens) linked to tangible projects. The decentralized and global nature of the digital economy provides access to more people worldwide with low capital to invest in more transparent and solid projects.”
There will be 325,000 tokens for sale, which are already available on LGBank. The Hasbrotel token (HASHM) gives users a share in ownership in the IBN Corp. They operation hopes to raise US$325 million, with a completion date of 2025.
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