Primalbase plans to launch the first ever shared coworking spaces for the tech community leveraging Waves’ technology with a token that gives lifelong access to office facilities . Using Blockchain’s features, these tokens can also be traded or leased to other users. Lifetime access is guaranteed through purchase of a single Primalbase token that will be offered during the Initial Coin Offering (ICO) set to begin on the 26th of June at 12:00 noon (UTC).
The shared workspace rent in tech hubs is usually costly, but Primalbase aims to change this by building a digital analogue for community membership mechanisms and turning membership into investment. Primalbase token (PBT) holders will be able access any of Primalbase’s facilities and book a coworking space (with 1 PBT) or a shared office (with 4 PBT) by using a mobile app. In addition, they can lease their tokens (or fractions of tokens) to other users based on peer-to-peer agreement. It is also possible to trade PBT on major cryptocurrency exchanges and sell it at any point.
“Real Estate is a conservative and a traditional industry, and thus it is ready for disruption. Blockchain needs real use-cases based that are not just based on speculation. With previous coworking space experience, we turned what used to be a cost into an investment, showing the power of applying blockchain to new industries,” comments Dmitry Faller, CEO at Primalbase.
Primalbase is built on the Waves and Ethereum platforms. The total number of free-to-use tokens is 1000 PBT. 250 tokens are reserved for management remuneration and social activities within the tech community to accelerate growth. After the ICO, no new tokens will be created. Full token holders will be able to vote on new Primalbase locations and be a part of the ever growing Blockchain-inspired community. Future locations include Amsterdam, Berlin, London, New York, and Singapore.
“Primalbase is a real estate company, while it is also a Blockchain community. It offers a rather unique product – on the one hand, it is access to office space, on the other hand, it is a financial instrument, which can be traded on the market. There hasn’t been anything like this before,” says Sasha Ivanov, Founder and CEO of Waves.