LAToken Implements Blockchain to Sell Fractions of Any Assets — From Real Estate to Art Objects

Through the creation of digital tokens, any asset can be bought, sold, or traded in fractional shares on a secondary market, enabling asset owners to more effectively leverage the value of their previously illiquid holdings.

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LAToken (Liquid Asset Token, LAT) sayst will issue 1 000 000 000 LATokens at a Public Token Sale on August 22.

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​LAToken is a platform that tokenizes assets and makes them tradable. It enables anyone to unlock the value of illiquid assets, including real estate, bank loans, and works of art. An investor needs LATokens to buy asset tokens created on the platform and pay fees for the creation of asset token and transactions.

The platform is based on an existing home equity marketplace, founded by the CEO of LAToken, that has facilitated 12,000 mortgage offers and more than 1,000 deals for 7 banks and 25 investors in the past year. Our advisory board is joined by Anish Mohammed, advisor to Hyperloop Transportation Technologies, David Drake, Chairman of LDJ Capital, and Ismail Malik, Executive Chairman of Blockchain Lab.

“My dream is to make NASDAQ on Blockchain with a wider range of tradable assets and a dramatic reduction of listing costs, settlement time, and transaction costs,” says Valentin Preobrazhenskiy, CEO of LAToken, former portfolio manager at Avega Capital, and creator of a back office for hedge funds.

The LAToken platform gives asset owners a new way to gain liquidity by making fractional asset ownership possible and tradable with minimal transaction costs. Asset owners can quickly get cash by issuing LATokens and selling fractional shares via the LAT marketplace, while keeping the actual asset for their use instead of borrowing money and paying interest or renting.

“The secondary and primary markets of fractional ownership of home equity and mortgages are now on the verge of a breakthrough, thanks to cryptocurrency Blockchain smart contracts,” says David Drake, chair of LDJ Real Estate Fund and member of LAToken’s Advisory Board.

An exciting case of real-world Blockchain implementation

Blockchain technology enables selling fractions of assets by issuing tokens backed by assets. Owners of artwork or houses don’t need to wait for a buyer to purchase their house or piece of art. They don’t need a major auction house, which might take a 20% cut, and they don’t need a real estate agent who takes 2-3%. They also don’t need to wait months or even years to sell their asset. The owner of the asset simply completes application forms via the site, signs token sale and asset sale agreements, and creates a token on the platform. After an audit, the token is listed on the LAT marketplace and the sale date is announced. After the sale, the funds are delivered to the asset owner.

By purchasing liquid asset-backed tokens (LABT) at the LAT marketplace, investors get a small piece of an asset. An independent custodian owns a piece of this asset and delivers cash proceeds from the asset sale to token holders. Token investors know that on a certain date in the future, this custodian will sell this share of the asset back to its primary owner. If the owner doesn’t buy the share back, the custodian will sell the entire asset to the market and distribute the proceeds to the principal owner and the token owners.

Investors get the appreciated asset price on their fraction of the asset.

The LAT platform includes a Wallet for purchasing and managing asset token transactions and a TestNet. Investors can trade and manage asset portfolios via the LAT investment terminal, which provides trading functions, access to credible assets’ data stored on Blockchain, and asset portfolio analysis tools.

LAToken has opened access to the platform wallet that allows tokenizing assets and listing for trading at the LAT marketplace. You can list your assets via latoken.com.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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