Image from @frystikken's post

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Our very own Mr. Nate ( @picokernel ) is meaning to get a house, and he's looking to get some cash to pay for it. What other better ways than to start an ICO for the first ever house on a Blockchain!! And so through the SteemSpeak Think Tank, @frystikken started the idea of an "Initial House Offering" and it seems like this is going serious!!

You can see @frystikken's post where he has ALREADY invested quite an amount for a pre-ICO.

Nate has been busy going through the necessary bureaucracy and procedures in in making sure everything goes smoothly. And he initially already has a sum committed for a down payment. So it's not "play-play" as a Malaysian and Singaporean will say it.

You can listen to Nate's conversation with the Banker here

Here's how @picokernel break it down:

"So basically, I am buying a house with my own funds and some of these pre ico funds
and when I buy put a down payment on the house and officially own it, I will release the ICO and give everyone who already paid there tokens
so with these tokens, you own a share of the house
and when I sell the house, you will be entitled to a portion of whatever I sell it for
so if I buy the house at $175,000
I will issue 175,000 nest tokens
and if I sell the house at $180,000, I will buy back all the tokens for that new price
and also being a shareholder has perks because you can vote on certain things
like if we want to install a pool because we think that'll improve the value"

There's even a flashy diagram that goes with it!!

where an ELI5 by @mckenziegarygoes like this

Phase 1- Assets will be issued and funds collected
Phase 2- Funds will be used for the purchase of the house
Phase 3- A development pipeline will be voted on by NEST owners
Phase 4- The house will be sold for at an appreciated value
Phase 5- Nate will use the cash value from selling the property to buy back tokens

The staging for the ICO is still in it's early plans, so we'll wait for Nate to put out updates and possibly a firm confirmation of how things will go down. (Imagine the first ever house fully paid in cryptocurrency without loan, gets me giddy everytime i think of it!!)

And so i want in on this!!!!

I will be contacting Nate through discord link here https://discord.gg/sqxV63P and contact him for a pre-ICO. if you are as enthusiastic as me, you can do the same too. So far we've already had some investors other at @frystikken himself.

I'll be sure to keep close tabs on this and show more of what i know as new development comes in. And will be using the "#natestate" tag.

More related post on this at the time of writing:

post by @frystikken
post by @aggroed
Technical Analysis post by @scaredycatguide
post by @bitcoinparadise
post by @steemiqa
post by @mckenziegary
post by @whatsup
post by @jjjjosue

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I'm @awesomianist Stay awesome!