REtokens, a leading digital asset tokenization company, has announced a collaboration with One Hope of Colorado to tokenize the historic Old Stone Church (OSC) located in downtown Fort Collins. Utilizing the Polymesh blockchain, this innovative partnership aims to transform traditional property investment by unlocking liquidity and broadening access to a global pool of investors while preserving a cherished community landmark.
Pioneering Community Investment through Tokenization
One Hope of Colorado, a faith-based organization committed to building a network of churches and faith communities, currently rents the OSC, a historic structure built in 1897 and recognized as the oldest church in Fort Collins. Through tokenization, One Hope plans to raise sufficient funds to purchase the property within three years, fostering a new model for community investment that can be replicated in other regions.
The initial fundraising goal is set at $2.5 million in the first year, targeting accredited investors who will hold the tokens for one year before offering them on a secondary market predominantly composed of Colorado residents. This approach not only preserves the historic integrity of OSC but also strengthens the surrounding downtown area by engaging the local community in its ownership and maintenance.
Embracing Technology for Preservation and Growth
Pastor Blake Bush of One Hope of Colorado spearheads this initiative, bringing over 34 years of pastoral experience and a forward-thinking perspective on technological innovation in community development.
“The idea of tokenizing the Old Stone Church to allow for community-aided ownership and preservation came into my heart when I started learning about blockchain technology,” said Pastor Blake. “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 that may have historic buildings they want to preserve.”
Strategic Collaboration for Enhanced Asset Security
REtokens will leverage Kiln’s advanced Ethereum (ETH) staking technology integrated within its custody platform to facilitate this tokenization process securely and efficiently. The Polymesh blockchain was chosen for its robust, purpose-built features tailored for real-world asset tokenization, offering simplified processes and enhanced compliance measures.
“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. “REtokens is built on the perfect layer one blockchain, Polymesh, which simplifies the tokenization process, reduces counterparty risk, and facilitates better compliance and security.”
Graeme Moore, Head of Tokenization at Polymesh Association, also expressed enthusiasm for the project. “Real estate is undergoing a transformation for community investment through real-world asset tokenization. One Hope of Colorado, as the first-ever tokenized church, is a great example of unlocking liquidity and fostering collaborative ownership.”
Revolutionizing Real Estate Investment
REtokens’ innovative approach allows for the fractionalization of real estate assets into digital shares, increasing accessibility for a wider range of investors and enabling faster, more transparent transactions. Tokenization also opens avenues for trading assets on secondary marketplaces, providing enhanced liquidity and flexibility for investors while positioning properties like OSC to capitalize on future growth opportunities in a digitized economy.
In selecting Polymesh as the blockchain platform, REtokens emphasizes streamlined token configuration and robust security measures, including regulated node operators and a settlement engine that mitigates counterparty risk and ensures compliance with regulatory standards.
About REtokens
REtokens is a full-service real estate tokenization and digital strategy company launched in 2022. With its proprietary software platform introduced in Q1 2024, REtokens guides real estate sponsors through strategic planning, asset tokenization, and liquidity pathways for both sponsors and investors. Backed by decades of real estate investment experience, REtokens addresses the limitations of traditional real estate liquidity by providing a tailored user experience for modern investors.
About Polymesh Association
The Polymesh Association is a not-for-profit organization dedicated to the growth of the Polymesh ecosystem through both public and private blockchain deployments. Polymesh is a leading public permissioned blockchain specifically designed for real-world assets, streamlining capital markets and facilitating new financial products. Polymesh Private offers a private, enterprise-deployable instance of the blockchain.
Photo by Holly Mandarich on Unsplash
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