tZERO, a leader in blockchain innovation and liquidity for
digital assets, announced today that it has partnered with ROI
Group™, a global real estate development company, to digitize up to
$50 million of preferred equity in a luxury hotel and residential
development located in downtown Dubai on the Tezos Blockchain. The
partnership represents ROI Group™’s first digital security project
of what could be one of many future digital security offerings.
Headquartered in New York, ROI Group™ has multi-billion dollars in
assets under management, with properties in the United States,
Canada, and the Middle East. It specializes in land development,
real estate investments, and passive co-investing.
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The digital security will use tZERO’s smart contract technology,
Megalodon’s management consultancy services, and will be built on
the Tezos Blockchain. ROI Group™ expects to issue the digital
securities, subject to applicable law and separate documentation,
in Q3 of 2021, and the development of the building is expected to
be completed in Q4 of 2023. It is further expected that the digital
security will become tradeable on the tZERO ATS, subject to legal
and regulatory due diligence, offering investors secondary
liquidity.
tZERO CEO Saum Noursalehi stated, “Our partnership with ROI
Group™ has the ability to transform the real estate sector and
builds upon our momentum in the space. We are excited about our
project to digitize and trade up to $50 million in this landmark
luxury hotel and residential development.”
A real estate digital security offering is the process of
raising capital and issuing digital securities representing
ownership and economic interests in an underlying asset. The
ability to provide secondary liquidity for investors on a regulated
trading platform is an important differentiator for traditionally
illiquid assets, such as real estate.
ROI Group™ CEO Martin Scholz said, “We partner with the world’s
leading real estate companies, brands, financial institutions, and
now technology firms. We are excited to utilize tZERO’s smart
contract technology on the Tezos Blockchain for our first digital
securities offering to provide access and liquidity to commercial
real estate. We look forward to collaborating with tZERO on future
real estate projects.”
tZERO is a technology firm with the goal of democratizing access
to private capital markets. tZERO is a subsidiary of Medici
Ventures, the blockchain-focused, wholly owned subsidiary of
Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notice
Investors should note that trading securities could involve
substantial risks, including no guarantee of returns, costs
associated with selling and purchasing, no assurance of liquidity,
which could impact the price and ability to sell, and possible loss
of principal invested. Further, an investment in single security
could mean lack of diversification and, consequently, higher risk.
Potential investors are urged to consult a professional adviser
regarding any economic, tax, legal or other consequences of trading
any securities as described herein.
No Offer, Solicitation, Investment Advice or
Recommendations
This release is for informational purposes only and does not
constitute an offer to sell, a solicitation to buy, or a
recommendation for any security, nor does it constitute an offer to
provide investment advisory or other services by tZERO or any of
its affiliates, subsidiaries, officers, directors or employees. No
reference to any specific security constitutes a recommendation to
buy, sell, or hold that security or any other security. Nothing in
this release shall be considered a solicitation or offer to buy or
sell any security, future, option or other financial instrument or
to offer or provide any investment advice or service to any person
in any jurisdiction. Nothing contained in this release constitutes
investment advice or offers any opinion with respect to the
suitability of any security, and the views expressed in this
release should not be taken as advice to buy, sell or hold any
security. In preparing the information contained in this release,
we have not taken into account the investment needs, objectives,
and financial circumstances of any particular investor. This
information has no regard to the specific investment objectives,
financial situation, and particular needs of any specific recipient
of this information and investments discussed may not be suitable
for all investors. Any views expressed in this release by us were
prepared based upon the information available to us at the time
such views were written. Changed or additional information could
cause such views to change. All information is subject to possible
corrections. Information may quickly become unreliable for various
reasons, including changes in market conditions or economic
circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition,
from time to time, tZERO, its subsidiaries, or its representatives
may make forward-looking statements orally or in writing. These
forward-looking statements are based on expectations and
projections about future events, which is derived from currently
available information. Such forward-looking statements relate to
future events or future performance, including financial
performance and projections; growth in revenue and earnings; and
business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as “may,”
“should,” “expects,” “anticipates,” “contemplates,” “estimates,”
“believes,” “plans,” “projected,” “predicts,” “potential,” or
“hopes” or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including, without limitation: the ability of tZERO and
its subsidiaries to change the direction; tZERO’s ability to keep
pace with new technology and changing market needs; and
competition. These and other factors may cause actual results to
differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The
forward-looking events discussed in this release and other
statements made from time to time by tZERO, its subsidiaries or
their respective representatives, may not occur, and actual events
and results may differ materially and are subject to risks,
uncertainties and assumptions. tZERO, its subsidiaries, and its
representatives are not obligated to publicly update or revise any
forward-looking statement, whether as a result of uncertainties and
assumptions, the forward-looking events discussed in this release
and other statements made from time to time by tZERO, its
subsidiaries or its representatives might not occur.
About tZERO
tZERO Group, Inc. and its broker-dealer subsidiaries (tZERO)
provide an innovative liquidity platform for private companies and
assets. We offer institutional-grade solutions for issuers looking
to digitize their capital table through blockchain technology, and
trade on a regulated alternative trading system. tZERO democratizes
access to private assets by providing a simple, automated, and
efficient trading venue to broker-dealers, institutions, and
investors. For more information on tZERO, please visit
https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal,
underwriter, investment bank, investment adviser or investment
manager, and is not providing brokerage, investment banking or
underwriting services, recommendations or investment advice to any
person, and does not provide any brokerage services. tZERO takes no
part in the negotiation or execution of secondary market
transactions for the purchase or sale of securities and at no time
has possession of investor funds or securities in connection with
such transactions.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a
member of FINRA and SIPC. More information about tZERO ATS may be
found at https://brokercheck.finra.org/. Digital securities that
trade on tZERO ATS are conventional uncertificated securities.
Ownership of such securities is reflected on the traditional books
and records of regulated market participants. At this time, the
term "digital" refers to the blockchain technology elements of a
security that are intended to enhance investor experience through
added transparency. tZERO ATS, LLC operates the alternative trading
system known as the tZERO ATS and has the right to determine which
digital securities may be traded on the tZERO ATS by its
subscribers, in its sole and absolute discretion. No investor
should rely upon this press release as evidence that a secondary
market or any liquidity for the securities will exist.
About ROI Group™
Incorporated 2013 in Nevada, ROI Land Investments Ltd. and its
subsidiaries and affiliates - branded ROI Group™ - is a global real
estate development company focused on land development, passive
co-investing, and active lead real estate investments.
Headquartered in New York, with subsidiaries in Montreal, Dubai,
Luxembourg, and Nürtingen, ROI Group™ specializes in unique
international real estate investment opportunities. For more
information, please visit: https://roigroup.com/.
About Tezos
Tezos is smart money, redefining what it means to hold and
exchange value in a digitally connected world. A self-upgradable
blockchain with a proven track record, Tezos seamlessly adopts
tomorrow's innovations without network disruptions today. To learn
more, visit Tezos.com.
About Megalodon
Megalodon is a boutique management consultancy firm. The firm is
specialized on consultancy services focusing on fintech and
(digital) securities. For more information, please visit:
https://megalodon.ae/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210302005423/en/
tZERO Media: Alexandra Sotiropoulos, +1-347-293-1416
asotiropoulos@tzero.com
Investor: Michael Mougias, +1-347-293-1248
mmougias@tzero.com
ROI Group™ Investor:
investors@roigroup.com
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