Fun

Colorado Church group tokenizes $2.5M chapel

News Feed - 2024-08-19 01:08:49

Tristan Greene7 hours agoColorado Church group tokenizes $2.5M chapelThis may be the first tokenized church in the world.4878 Total views15 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onA network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building. 


The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.Tokenize the building


According to a report from Forbes, Bush’s congregation and other church groups had been renting the building from its owner, a local businessperson who also owns a car dealership.


The 11,457-square-foot building, called “Old Stone Church” due to its stone exterior, was purchased by its current owner in 2022 at a cost of $2.2 million. Reportedly, Bush and the Colorado House of Prayer group intend to purchase the building for $2.5 million


Bush says he came up with the idea of tokenizing the building — putting it on the blockchain as a digital asset that can be split into shares — after a spiritual experience.


“I heard the Lord say, ‘tokenize the building,"" Bush told Forbes, later adding that he had been “praying for this for years” and that God had told him to “go get my house.”Blockchain and real estate


In order to accomplish his holy mission, Bush and the group created “Stone Coin,” a digital asset used to raise money for the purchase of Old Stone Church. The coin is tied to a real estate token created by REtokens and running on the Polymesh private blockchain.


Like any tokenization project, the results will depend on the amount of positive token-flow and reactive value. The project is reportedly seeking investors after having raised about half of its goal.


In the future the token’s board, which includes Bush and other religious leaders as well as the mayor of a nearby town, plans to open up token sales to non-parishioners. While this could potentially put the digital asset ownership at risk of an outsider takeover, Bush doesn’t appear to be too concerned about that.


When presented with the notion that, for example, Satanists could end up making a run on the church’s tokens, Bush quipped that he’d be grateful, “let’s introduce you to Jesus.”


Related:Religious leaders debate going to church in the metaverse# Blockchain# Cryptocurrencies# Adoption# Real Estate# Tokens# TokenizationAdd reaction

News Feed

Helen Partz10 hours agoCrypto-friendly Robinhood inches closer to UK with local CEO appointmentRobinhood has been planning its expansion into the United Kingdom since 2019, but the project has faced multiple delays.2694
ADA Slips Below $0.3389 Level, Deeper Downtrend Looming?
Este artículo también está disponible en español. Cardano (ADA) has once more dropped below the crucial $0.3389 support level, sparking fears of an extended bearish phase
CFTC commissioner warns against infringing on SEC’s authority in KuCoin case
Turner Wright4 hours agoCFTC commissioner warns against infringing on SEC’s authority in KuCoin caseTwo U.S. financial regulators cannot seem to reach a consensus on how to treat certain cryptocurrencies as securities
South African Financial Sector Regulator Declares Crypto Assets a Financial Product
South African Financial Sector Regulator Declares Crypto Assets a Financial Product According to a general notice published in a government gazette, crypto assets are now treated a
Crypto Custody Firm Fireblocks Launches Web3 Services Suite
Crypto Custody Firm Fireblocks Launches Web3 Services Suite Fireblocks, a crypto custody service provider, is expanding its services with the launch of an institutional suite of We
Weekly NFT Sales Continue to Slide, Google Trends Data Shows NFT Queries Down 45% in 30 Days
Weekly NFT Sales Continue to Slide, Google Trends Data Shows NFT Queries Down 45% in 30 Days Following a lackluster week that saw non-fungible token (NFT) sales slip by 29.35% last
The Olive Corporation Could Be the Next Big Thing in Crypto, the Metaverse and the Food Sector
The Olive Corporation Could Be the Next Big Thing in Crypto, the Metaverse and the Food Sector sponsored Everyone would agree that the metaverse is a novel concept that is only goin
House committee ranking member says a stablecoin bill could be coming soon
Turner Wright7 hours agoHouse committee ranking member says a stablecoin bill could be coming soonHouse Financial Services Committee Ranking Member Maxine Waters said a stablecoin bill “in the short run” was coming a
Crypto Fear and Greed Index Hits ‘Greed’ for the First Time in 4 Months
Crypto Fear and Greed Index Hits "Greed" for the First Time in 4 Months On March 28, the Crypto Fear and Greed Index has jumped back to the “greed” position for the f
Derek Andersen2 hours agoDigital rupee gets big usability boost through Yes Bank integration with UPIThe Yes Bank app’s UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects sinc
Bitcoin May Reach $200K Despite Trade War Fears. Can the Biggest Presale $WEPE 100x?
Este artículo también está disponible en español. Fred Thiel, the CEO of Marathon Digital, a Bitcoin mining giant, is extremely bullish on Bitcoin and predicts it can rea
Japanese Bank SMBC to Foray Into NFT and Web3 Markets
Japanese Bank SMBC to Foray Into NFT and Web3 Markets The Sumitomo Mitsui Banking Corporation (SMBC), the second largest of the three biggest banks in Japan, has announced it is pl