Sosnovkino is a real estate project, secured by a land asset, that is raising funds via an ICO.
Sosnovkino is located 20 km south of Novosibirsk, which is the center of the Siberian region, with a population of about two million. The most popular artificial lake in West Siberia and pine forest make this area very attractive. According to the project information, the Sosnovkino Foundation already owns 194 hectares of land in the area (including 11.9 km of the adjacent coastline), worth an estimated $3,000,000. This area is intended for the construction of private houses, for which the foundation plans to develop a centralized infrastructure. To complete the infrastructure, an investment of $2,700,000 is required. The foundation plans to complete construction by October 2018, after which it will begin to sell 1,800 individual plots.
In order to raise the required funds, the Sosnovkino Foundation is conducting a crowdsale of 270,000 SNKCoin tokens at $10 each. Each token guarantees its holder a share of the company’s profits, as well as voting rights on matters of foundation operations. 70% of the profit will be distributed to token-holders quarterly, starting October 2018. Dividends will be paid in a chosen cryptocurrency. Token holders will also be able to buy and sell SNKCoin on the exchange at market value.
According to the project information, Sosnovkino is a reliable investment, backed by a land asset not subject to inflation, and as such provides SNKCoin with some immunity to the volatility of cryptocurrencies. The foundation anticipates a 300% profit for ICO investors, with income not only from the land plots but also from the roads and infrastructure which will remain in the foundation’s ownership. The estimated investment return period is two years.
Following the token crowdsale, in September 2017, the collected funds will be deposited in the Sosnovkino Foundation’s account in the Cayman Islands. In October 2017, Sosnovkino LLC will transfer the funds for construction of gas and water pipelines, electric and central sewage systems (and, presumably, construction will begin). In December 2017, a blockchain vote will be held among all token holders to decide on a start date for the sale of the 1,800 land plots, their selling price, the real estate agency, and marketing expenses. After voting, Sosnovkino LLC will choose a real estate agency and enter into a contract for sale with an established price policy. Construction is planned to be completed by July 2018, whereupon Sosnovkino will build roads in the entire territory of the settlement. This is planned to be completed by October 2018.
Dividends will be paid quarterly to token holders starting from the sale of the first land plot and until the last one is sold. The estimated selling price of a land plot is $10,200. After all the plots have been sold, token holders will continue to receive a share of the profits from monetization of the roads and engineering communications which will remain in the foundation’s ownership.
- Maxim Dvedenidov, CEO – An experienced suburban real estate project developer who has developed more than 3,000 land plots in the Russian Federation, several successful projects in the Czech Republic, and a resort apartments project in Thailand.
- Olga Serbinenko, CFO – A financial and business analyst with a Master’s degree in Economics from the Plekhanov Russian University of Economics, a BBA from the Moscow Technological Institute, and a BA in Real Estate, Finance and Revenue Management from the Glion Institute in Switzerland, as well as experience as a financial director in two successful startups.
- Dmitry Nagornykh, CIO – An IT specialist with a master’s degree in Information Technologies and Computational Systems from Novosibirsk State University, where he is currently working on his PhD and as Senior Teacher; a professional in artificial intelligence, neural nets, computational systems, and blockchain technologies.
A word of caution: although Sosnovkino appear to be open and available, at least one interested party has found their Telegram, Wechat, and Slack communication channels to be unresponsive. Also, neither Maxim Dvedenidov nor Olga Serbinenko list Sosnovkino on their LinkedIn profiles.
|Total Supply||270,000 SNK (100%)|
|Maximum Raise||2,700,000 USD|
|Pricing Structure||$10 per SNK|
|Holding of Funds||N/A|
|Technical White Paper||The Sosnovkino whitepaper is a concise, professional presentation of the project’s business model.|
|Team||The team appears to be professional and capable. However, there are only three team members, one of whom does not have a LinkedIn profile, while the other two do not list this project on theirs.|
|Location||Unclear where Sosnovkino LLC will reside; the foundation’s account is in the Cayman Islands.|
|Token Rights||Dividends and voting rights.|
|Token as Asset||Via exchange.|
*Disclosure – At the time of writing, Cryptorated staff owned no Sosnovkino tokens.
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