Intelly: Strengthening Real Estate and Property Development Through Blockchain
Blockchain technology and the industry it helped from are no longer a niche market segment that used to be primarily associated with vaporware and projects devoid of substance. It has grown to a field that’s attracting billions worth of investment and top-tier talent throughout the entire world.
The distributed ledger technology has moved beyond a proof-of-concept and is now being applied in many industries. Earlier in 2020, CryptoPotato reported that IBM is entering a blockchain-focused partnership aimed at the clothing industry.
Another example where the technology is being utilized is real estate and, more specifically – fractionalizing real estate ownership. A company that’s aimed at this exact avenue is Intelly.
What is Intelly?
The Intelly Platform is attempting to fractionalize real estate ownership and allow smaller participants to enter a field that is historically reserved for those with serious financial capabilities.
It presents a way to access real estate investments through rather innovative options. Development projects will be funded through the Intelly web platform, where users will be able to invest via the INTL token.
Once the investment process is done, those who invested will receive fractionalized non-fungible tokens (NFTs) of said asset. If the users decide to hold these tokens, they will receive a share of the profits generated by the assets. Alternatively, they can also be traded on the Intelly Exchange.
A portion of the revenue that’s made by the intelly platform and the marketplace is invested in the so-called Intelly Wealth Fund (IWF). Half of the profits that are generated by the IWF will be redistributed back to those who hold INTL in stable USD coin currency using an airdrop function.
The team will be developing relationships with international companies and developers in the real estate field. The goal is that these companies will accept payments in INTL, which will enable investors in the Intelly Platform to take advantage of these opportunities. The platform itself will allow for multiple capabilities, which include the trading between two parties – as mentioned above.
This functionality will use smart contract infrastructure where both parties will be able to prepare an online agreement and initiate it by deploying the actual smart contract. This process will start the token transfer and control it as well.
What is the INTL Token?
All operations on the Intelly platform will take place using the INTL token. There will be 1,000,000,000 INTL tokens in circulations, and they will be burnable and not mintable. The network of choice is the Binance Smart Chain, where the maximum tokens that will be offered are 400 million.
There will be an INTL Reserve that’s created to keep the ecosystem appropriate and healthy. It has been created to keep investments through INTL secure. From each INTL that’s invested to various projects available on the Intelly platform, 1% of it will be transferred to the reserve. This percentage is set to decrease as the volume increases.
The Reserve will be transferring any Intelly Airdrop income directly to the Wealth Fund, and this should, in theory, cause it to grow. All in all said INTL Reserve will be used as a backup in case there is any possible loss in investment through the Intelly Platform.
