Hello 404 Daily Crypto Community
On 27th May 2021, BricksEstate conducted an AMA in the 404 Daily Crypto. Our guest is Mr. Simon, CEO of BricksEstate.
Lots of questions as usual from the Community about BricksEstate progress. The BricksEstate team took part in a very interesting AMA session which included Project introduction, Questions from Twitter and a live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into BricksEstate.
Let’s take a look at the most interesting points of our conversation.
📍Session 1 » Project Introduction
please introduce yourself, your background and your roles within BrickEstate
Simon: I’m simon CEO of bricksestate mine and a few of our teams background is in blockchain working on various projects but now we are looking to link blockchain with real estate.
Can you give us a brief description about BrickEstate project and how you came up with the idea?
Simon: BricksEstate is a community blockchain project that will allow investors access to a variety of real estate properties through fractional ownership, NFT certificated ownership and DEFI backed Mortgages.
The concept behind BricksEtate has accumulated through our time identifying challenges faced by current markets while trying to find a fair, cheap and efficient solution to them.
How was the process of building the platform? Did you run into any difficulties during this time?
Simon: So far the experience of the BricksEstate team members has allowed us to avoid any real difficulties. We do have a lot more ahead of us to work through this year in our road map but we believe we have the right people in place for completing this.
What measures can you let our community know to give them confidence in the project?
Simon: We have taken measures to give token holders confidence such as separating our tokenomics into individual wallets that can be tracked at any time by investors constantly on the BSC explorer, these can be found on our website for viewing here https://bricksestate.co/#tokenmetrics
Also our contract wallet address has multi signature access through https://gnosis-safe.io to avoid any single point failure occurring from any one individual or hacker attempting to access our funds.
BricksEstate will also provide security by enabling investors to move in and out of both the Crypto and real estate market at the same time allowing for a steadier growth pattern than we see in the very volatile crypto market.
What do you think the benefits are of launching your first token sale with BSCtrust and BAFI ?
Simon: Launching on two platforms simultaneously gives a wider audience and also allows us to draw on the expertise of the teams behind two great platforms. With the help of both BSCtrust and BAFI we have grown much more than we could have without them.
All project coins have their main Utilities & real-life use case! So, Can you tell us what are the main role of $BRICK coin in your ecosystem? Explain its Utilities & Real-Life use cases?
Simon: Good question, we will be adding more utility as the platform grows however a a few use cases I can share initial will be focused on enabling real estate services to benefit from the blockchain so these will include using BRICK token to pay fees for completion of property purchase or sale.
Token holders will also be able to have property managed through our platform and pay this management fee in BRICKS.
BRICK will also at a future point be used to pay for Loans through our platform but this is something we will add later to our project after we obtain the relevant licenses.
In your WP you write that notary will confirm ownership of property in form of NFT token. Do you have such notary office which will do it? In which jurisdiction? And what about regulations? As far as I know there is no place in the world right now, which regulate NFT token as a legal form of contract. Please answer.
Simon: The NFT forms a digital back up of the ownership certificate and there are a few 3rd parties that can custody these for us such as https://www.uniqly.io who transfer from physical products to NFT and back again.
We will always pass the final choice over to the customer regarding what happens with the NFT and certificate of ownership.
📍Session 2 » Question from Twitter
— Question from Twitter @EgaRama43591070
In order to avoid hackers who want to take or break into a company system, be it company data or user data. Do you have a special security system for your project / company? And do you also provide special security guarantees for users / investors?
Simon: Good question @EgaRama43591070 so the main issue with most platform security is single point failure and hacks allowing baf actors to access funds along with other types of attacks.
Bricksestate will be accessible by your DeX wallet so you maintain total control over your assets at all times. The security of the bricksestate platform will be as secure as the wallet you choose to access the platform with As for bricksestate our funds wallets will all use multi sig so again there is no single point failure possible.
— Question from Twitter @TimSukses31
Can you list the killer and unique features that put them ahead of the competition? What competitive advantage does your platform have that make you feel the most confident in yourself?
Simon: Thanks @TimSukses31 so there will be a few unique points that put us ahead of our competition. The main part is linked blockchain as most real easte has not really moved from the traditional methods of transaction and sale.
Personally my favourite part is the NFT certificate that allows real estate investors the ability to trade almost instantly and arbitrage property prices across regions
— Question from Twitter @Muhamma54668203
Do you plan to expand Wealth locks to other exchanges with a better reputation? Where else can I buy #BrickEstate ?
Simon: Great question @Muhamma54668203 as you may have heard platforms from BSC are also launching on other chains so we see the future being multi chain.
With this we will be able to access other platforms that include decentralized financial options and products. For now you will be able to access the BRICK token on BAFI swap and also on pancakeswap after the pre sale has completed on both BSCtrust and BAFI.
— Question from Twitter @KAPTENJ70
What would you say to clear the doubts of a potential investor about crypto and explain that your project is an investment opportunity for the future?
Simon: A really important question @KAPTENJ70 . One of the main issues bricksestate is going to address is the fact that all blockchain projects no matter how good are adversely affected by BTC when it drops or positive when it rises.
The main reason is they are solely in a blockchain market, With the BRICK token allowing investors to be part of two markets such as not just the blockchain but also real estate we are placed between following both markets.
This will enable bricksestate and its investors to move towards real estate when BTC is bad and back to blockchain when BTC is good just by moving into the BRICK token.
— Question from Twitter @kata_rendy
Does the name #Bricksestate have a meaning? What made you choose a name like that? Also, can you explain the distribution of your tokenomics? How many tokens will be printed? How many tokens will the team lock?
Simon: Very good question @kata_rendy . So the bricksestate and BRICK token name has a nice meaning of building, The aim of the platform and the token is to build for the investors.
Also people tend to build together so we chose BRICK, Also a very important thing to remember is that there will only ever be 1 million BRICK tokens. If you take into account that people will be purchasing property that could cost 1 million in a single transaction you then realise how cheap the pre sale value of $1 per BRICK token is
Also you can check our platform to download our white paper and look through more on our tokenomics here
Connecting Real Estates & Properties Globally on Blockchain
Brick estate is a community project where users can access a variety of real estates and properties and own full or…
📍 Session 3 » Community Questions (Live AMA)
— Telegram User @Jemtran
Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage your project to gain a place in the market and become a best token in the blockchain world?
Simon: This is a very important question @Jemtran so the bricksestate philosophy and set up only allows us to prosper if our investors prosper. So by design we make nothing unless you do and also only if our investors make profits 👍
— Telegram User @shoaibhassan2
At this moment, which one the most Necessary for your project:
Simon: @shoaibhassan2 great question as in real estate that will allow for members to arbitrage across regions it means the community is the most important both at this stage and also in the future for our project 👍
— Telegram User @nikolas1819
In your roadmap I don’t see any token burning. remembering that the burning of tokens is important to encourage the treasure of these tokens .. then can you explain about brick token burning ??
Simon: Great question @nikolas1819 so token burn for any project with a large circulation is understandable however as you can see we not only have a low number of only 1 million tokens but these can also be used currently in one single property transaction.
This should give you an idea of the true value the token will rise too and also why for now token burn is not needed. Before such things we will implement buy back and last case we think of burn 👍
— Telegram User @Vipgoamr
The NFT is ideal to provide you with copyright and differences to each product, but after you buy the product, how useful will the NFT really be? just leave it in my wallet?
Simon: @Vipgoamr so a deed to property NFT will allow you to claim or trade that entire deed ownership to another investor by blockchain.
It’s a very important and a powerful product and not like a game NFT, this is the right to who owns the property in NFT form 👍
— Telegram User @Karoceh
Is Bricksestate a global project? how will Bricksestate be expanding into a different country? And is it possible to buy or sell real estate across countries?
Simon: @Karoceh great questions and answers is yes to all, we will be expanding into various regions starting in the UK and following up with the EU before moving into Asia where we have our representatives stationed.
This will allow you to retail and real estate arbitrage not just within your region but across the globe 👍
Thank you for answering questions from our community. Before the end of the AMA, maybe you want to say something to our community?
Thanks for having me here @ALAMSP and also all the members here for some great questions
Please feel free to ask anymore questions with our team on our channel https://t.me/bricksestate
For more information and future AMA, join our Social Media channels:
📍 More information on BricksEstate:
❇️ Website: https://bricksestate.co
❇️ Twitter: https://twitter.com/bricks_estate
❇️ Telegram: https://t.me/bricksestate
❇️ Github: https://github.com/bricksestate
❇️ Medium: https://bricksestate.medium.com/