PRESS RELEASE. Toronto, July 19, 2021 – FOHO is building a transparent fractional ownership marketplace that uses the wisdom of the masses to uncover deals, hold sellers and property managers accountable, and manage the use and income disbursements for property assets. Your modus operandi revolves around a trust-based system. Behind the platform are Tangentia – one of the fastest growing technology companies in Canada and Tripvillas – a leader in the development and management of vacation homes.
FOHO Coin – a utility token for use in the FOHO ecosystem announced today that it has entered into agreements for its Initial Exchange Offering, or IEO, on the Ascent by Bitnbs Launchpad. The IEO will open on July 27, 2021.
FOHO was founded in Goa in 2019 and raised capital from Tangentia Ventures. It quickly gained momentum with stores in Goa and Sri Lanka. In 2021 it received further support from Tripvillas – a leading manager of holiday home communities with over 5000 homes under direct management across Asia and Europe. Tripvillas’ new openings during the pandemic include Goa’s largest real estate development – Rio De Goa (www.riodegoadabolim.com) and Kenisha Holiday Homes, Khopoli (www.kenishaholiday.com). In addition, Tripvillas owns one of the largest information archives on international real estate through its stake in Holiday Home Times.
Vijay Thomas, Founder of FOHO Holdings: “When we started FOHO Haus in Goa in 2019, we thought we had a formula for success to democratize real estate investments around the world. We have only divided properties into 10-12 fractions each. In 2021 we introduced Blockchain and Crypto and now the same real estate can easily be broken down into 10,000 or more factions and I stand corrected, now this is true democratization of global real estate investment and use. ”
According to Roshan Dsilva, founder of FOHO Holdings. “FOHO will bridge the gap between the real world and cryptocurrencies and enable a safer, more decentralized way to invest in hard assets. Our focus is on making sure the best deals come to the platform. We believe that both sellers and investors will see the value and FOHO will become the place to invest in real estate. We are excited to finalize our agreement with Bitbns to launch our first public offering on their Indian investor platform and will be announcing additional listings elsewhere shortly. ”
The FOHO ecosystem includes the (1) FOHO coin – a special cryptocurrency that is the elixir of life of the FOHO ecosystem, used for transactions with FOHO marketplace participants and rewards early adopters and good ethical behavior. (2) FOHO Haus – is the blockchain-based residential real estate marketplace that enables users to buy and sell fractions of residential property. (3) FOHO Work – Similar to FOHO House, but allows investors to buy and sell fractions of commercial assets such as office space, warehouses, retail, hotels, wineries, farms, and plantations. The only for-use portion of the FOHO ecosystem is the (4) FOHO Club – which allows anyone to create a club where like-minded people come together to share the use of a property asset or experience. So there you have it, with the FOHO ecosystem, you made fractional ownership and fractional use of real estate around the world easy.
The FOHO-Coin is a utility token that can be used to purchase shares in real estate or to subscribe to usage clubs where owners can use real estate. The FOHO ecosystem mimics real estate ownership in the real world and owners can vote on key decisions, change the manager of the property, and vote to sell the property. FOHO’s focus is on holding participants accountable and bringing transparency and lower transaction costs to the platform. FOHO will shortly announce the expansion of its advisory board. Further details can be found on www.fohocoin.com.
(Registration for the private placement is possible at fohocoin.com)
Dranding Consulting (representing FOHO Coin)
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