"Elements Estates is creating a Blockchain-based platform with underlying unique portfolio of real estate deriving from banks’ distressed assets. The platform will offer the ability to utilize ELES tokens through purchase or rent of real estate and other services, all primarily related to newly developed and modern properties in platform ownership.
Since the last economic and financial crisis, which has changed the economic and financial landscape of Europe there has been great demand for distressed assets . The Elements team was involved in a great number of the most important distressed acquisitions in South-East- ern Europe (SEE) region in the past few years in which we acted as an advisor to hedge funds from USA and Western Europe . The Elements Estates project is a new step in that area . We will set-up a private corporate fund that will purchase, develop and maintain real estate across the regions . It will be managed by an experienced team with proven track-record and governed by smart contracts on blockchain .
By using blockchain technology we are creating a platform that will enable everyone to benefit from real estate opportunities in distress market . It will act as a transactional hub between a fund and the ELES (Elements Estates) token holders themselves who will benefit through the increasing value of ELES token. Twinned with that, the ELES token will be used as payment means in every transaction related to properties owned by the Fund to ensure safety, secu- rity, and transparency. All services will be payable solely in ELES tokens that will be offered to users in the upcoming ICO event as described in this Whitepaper .
The ELES token is one of the first cryptocurrencies to combine distress real estate opportuni- ties with blockchain technology. The ELES token is classified as an utility token since the own- ers will not have any ownership or shares of the corporate private fund and do not receive any dividend. However, they will be able to benefit from its use and deployment through the platform .