UCASU to launch NFT sale and historical landmark renovation with ribbon-cutting ceremony
August 06 2021 - 9:23AM
InvestorsHub NewsWire
UCASU to launch NFT sale
and historical landmark renovation with ribbon-cutting
ceremony
Atlanta,
GA -- August 6, 2021 -- InvestorsHub NewsWire -- UC Asset LP
(OTCQX:
UCASU) announced the company will hold a formal ribbon-cutting
ceremony to kick off its landmark project and NFT sale, on
Wednesday, September 8, 2021.
The
ceremony will launch the company's
primary project to refurbish
Rufus Rose House, the oldest building in the
heart of downtown Atlanta. Sitting
on the
city's busiest
street,
the
Victorian
style mansion is
officially recognized as a national Historic Place and a Landmark
Building of Atlanta.
The
ceremony will also introduce
the
sale
of first
1,000
NFTs representing the artistic and historical value of
the
Rufus Rose House. The NFTs will be developed and sold by third
party partners with a successful reputation in the crypto-currency
business. UC Asset will license to its
partners the
rights to build
the
artistic and historical value of Rufus Rose House
into
NFTs, in
exchange for 95% of net income of NFT sales.
"We
estimate the
building's
commercial value,
after
being fully refurbished,
will
be at
between
4 to 6
million dollars and
perhaps more,"
projects
Greg Bankston,
managing general partner of UC Asset. "And
we believe its historical and artistic value will be
even
higher.
One could say its value as the only standing Victorian mansion in
the 9th largest city of this country is
priceless."
Bankston
says the NFTs will be sold at an affordable amount, offering
more
people the
opportunity to become a collector and owner of artistic and
historical value. "It
is up to our partners
to
decide on their pricing strategy, but my estimate would see the
first 1,000
NFTs priced between $400 to $500 per token,"
says
Bankston.
As the
property undergoes renovation,
and
its value rises, so will the collectible value represented
by NFT
tokens. "According
to our partner's
license agreement, a maximum number of
5,000 NFTs may be issued. I would
not be
surprised if the NFTs issued in later rounds will
be priced
much higher,"
Bankston
says.
A
buyer
of the
Rufus Rose House NFT will be officially recognized as an owner of a
piece of artistic and historical value of the
landmark, and empowered by block-chain technology, will be able to
claim an indestructible "virtual
deed".
Buyers will also enjoy certain accesses and privileges to Rufus
Rose House.
About UC Asset
LP
UC
Asset LP is a limited partnership formed
for the purpose of investing in real estate with value-added
strategies, concentrating in metropolitan areas of Atlanta,
GA. For
more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause
our actual results,
performance or achievements, or industry results, to differ
materially from any these statements. You are cautioned not to
place undue reliance on any those forward-looking statements.
Except as otherwise required by the federal
securities laws, we undertake
no obligation to publicly update or revise any forward-looking
statements after the date of this news release. None of such
forward-looking statements should be regarded as a representation
by us or any other person that the objectives and plans set forth
in this News Release will be achieved or be executed.
For More
Information Contact:
Christal Jordan |
Investor Relations Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297
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