NYCE Issues Real Estate-Backed Token, Giving Retail Investors Access To $1 Ownership Units In Private 'Philicon Square' Development

Start generating passive income through real estate.

Own a piece of your favorite cities through diversified real estate investments in the country's top markets

*Terms and conditions apply. Visit Nada's website for more details.

Zinger Key Points
  • NYCE's TEMPLE I property tokens represents ownership of the Philicon Square development.
  • TEMPLE I ownership units utilize smart contract technology to trade digitally via a blockchain.

Real estate fintech NYCE has officially launched live trading of $1 ownership units in its TEMPLE I, the first digital liquidity event for Reg. CF real estate crowdfunding investors.

What Happened? NYCE's TEMPLE I property tokens will begin trading on the Securitize Markets Alternative Trading System under the ticker TMPL. TEMPLE I represents Phase I of Philicon Square, a 105-unit community for entrepreneurs located adjacent to Temple University.

Related Link: What To Know About Investing In Private Companies: Ark Invest's New Fund

Why It's Important: Regulation CF, also known as Title III of Regulation A+, is a provision added to the Jumpstart Our Business Startups (JOBS) Act in 2016 to allow private companies to raise up to $5 million from the general public. Prior to Reg. CF, private company fundraising was limited only to accredited investors, institutions and the wealthiest 2% of Americans. Reg. CF makes it much easier for startups to raise the capital they need, and it gives retail investors unprecedented access to opportunities that were previously reserved only for wealthy investors.

The TEMPLE I ownership units utilize smart contract technology to trade digitally via a blockchain, and their fractional nature allows investors to take an ownership stake for as low as $1.

“This is a huge milestone and what’s driven the entire team from Day One,” NYCE CEO Philip Michael said. “Allowing a new group of investors to not only invest, but participate on an even footing with the wealthiest 1%.”

Related Link: What Does It Mean To Be An 'Accredited Investor'?

NYCE has already completed five real estate offerings via the Regulation Crowdfunding exemption since 2020, including three campaigns of more than $1 million each. NYCE currently has more than 1.2 million community members, and the company says its goal is to help 100,000 first-time investors become millionaires by 2030.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsOfferingsMarketsReal EstateNYCE
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!