A church group in Colorado, often called the Colorado Home of Prayer, has turned to blockchain expertise to purchase a chapel price $2.5 million.
Below the management of Pastor Blake Bush, the group has tokenized the constructing, changing it right into a digital asset to make the acquisition course of simpler.
The chapel, referred to as the Previous Stone Church, is an 11,457-square-foot constructing that the group has been renting. The present proprietor, a businessperson who additionally runs a automotive dealership, purchased the constructing in 2022 for $2.2 million.
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Pastor Bush informed Forbes that the choice to make use of blockchain was impressed by a non secular expertise, describing:
I heard the Lord say, “tokenize the constructing.”
To boost the wanted funds, the group created a digital foreign money referred to as “Stone Coin.” This token, backed by actual property, runs on the Polymesh personal blockchain.
The challenge’s success will depend on attracting sufficient investments and sustaining the worth of the tokens. Having raised about half their objective, they’re now searching for extra traders, together with these past their spiritual neighborhood.
Opening token gross sales to non-members has sparked considerations about outsiders gaining management over the asset. Nonetheless, when requested about the potential of teams with opposing beliefs, like Satanists, shopping for tokens, Bush replied:
Let’s introduce you to Jesus.
The Colorado Home of Prayer’s determination to tokenize the chapel exhibits how fashionable expertise can be utilized to attain non secular objectives.
In different information, in June, Galaxy Digital and the co-founder of Animoca Manufacturers tokenized a 1708 Stradivarius Violin.
Gode is a Web3 Market Analyst who researches crucial trade occasions and interprets how they have an effect on the broader Web3 house. Her formal training in media tradition & digital rhetoric permits her to make use of a methodical method to evaluating vital Web3 information information, together with large-scale occasions and the broader social sentiment throughout the ecosystem.Gode is a mutilingual skilled, having studied in a number of universities all throughout Europe. This permits her to have a one-of-a-kind alternative to investigate Web3 social sentiments spanning completely different cultures and languages and, in flip, develop a a lot deeper understanding of how the Web3 house is rising inside completely different communities. With the remainder of her crew, Gode works to determine essential crypto information patterns and supply unbiased and data-driven info.Gode’s passions embrace working and speaking with individuals, and when she’s not researching Web3 information, she spends her time touring and watching true crime documentaries.
