Friday, November 8, 2024

Interesting: The Perhaps Largest ICO Around A Catholic Monastery Launches Soon!

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On July 1, 2023, probably the most ambitious Initial Coin Offering (ICO) worldwide will start via Vienna and Dubai. In the course of this so-called REAL-TOK ICO, up to 1.2 billion real-estate crypto tokens are to be sold for €1.00 each. This makes targeted proceeds of €1.2 billion. The issuer of this gigantic ICO is the Vienna-based REALTO Group. In the middle of this ICO is a Catholic Austrian monastery which owns the group’s real-estate properties.

The ICO Narrative

The ICO website states that REAL-TOK aims to simplify and revolutionize the global transactional process in the real estate sector. REAL-TOK intends to introduce the first decentralized marketplace for properties on the blockchain. The goal would be to benefit sellers and buyers by reducing transactional costs through trusted partners, thereby eliminating intermediary expenses. The platform will be powered by the Ethereum blockchain and utilize the REAL-TOK (RLTO) utility token, which is backed by real assets.

The REAL-TOK project promises quick wealth on its website, which seems a bit dubious. The real estate sector and the crypto segment are currently in a rather depressed state.

Behind the project are the Viennese real estate investors Peter Kilian and Thomas Wagenhofer. Also involved is the Viennese lawyer and football player manager, Skender Fani.

The RLTO token is said to be baked by REALTO Group‘s real estate projects. These projects are mostly built on the properties of the Chorherrnstift Klosterneuburg, one of the largest landowners in Austria.

Compliance Check

The REAL-TOK Token (RLTO) will reportedly be issued with all necessary permissions via Dubai. The whitepaper does not provide any details in this regard. The whitepaper is only half finished and therefore does not look serious.

We have put the REAL-TOK project on our Red Compliance List, as the claims are partly not comprehensible, the whitepaper is incomplete, and the regulatory background is not disclosed. This is clearly too little for an ICO that wants to raise €1.2 billion and seems like a rip-off.

Key Data

ICO brandingREAL-TOK
Domainhttps://real-tok.io
Token symbolRLTO (ERC20)
IssuerREALTO Group
BlockchainEthereum
ICO Volume1,200,000,000
Token supply2,000,000,000
Related individualsPeter Kilian
Thomas Wagenhofer
Skender Fani
Lukas Koch-Hochmuth
Markus Pistracher
Related entitiesChorherrnstift Klosterneuburg
Regulatory authorizationNot explained
Compliance ratingRed

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If you have any information about the REALTO Group, the REAL-TOK ICO, or the individuals involved, please let us know through our whistleblower system, Whistle42.