Next week further info will be given on the $VBS token and how this will be connecting into the complete TuruGlobal ecosystem.
One thing we can already indicate, which is that participating into our Real Estate projects by buying Brick NFT’s is open for all.
Investing in the $VBS tokens, which are backed by the TuruGlobal portfolio though will only be possible for people invested in TuruGlobal. These tokens we will only put up for sales in trading pairs with $turu and $BBT tokens.
Once all details are worked out, it will be added to our project summary.
As the real estate legislation is different per country, we will switch on countries one by one. Easiest is to start with countries where we have team members living in order to get the right representation and legal documentation in place.
We don’t have any team members living in the Carribian (yet :-)) so that is not planned to be part of the first wave. Though if we can convince a team member to move there, it might get its turn earlier…
Will some of the properties be vacation cottages or are you guys focusing on City properties? Will the holders have any advantages interms of vacations stays etc. ?
The first properties will be city properties. Every property will have its own group of owners (the DAO with their own discord channel in our server) This DAO will have a TuruGlobal community manager and one of the goals of the community manager is to record ideas and feedbacks.
If we see appetite for holiday cottages, we can go into that direction. As one of the basics of VersacBrickSquad is to give a voice to the community. Then when we buy a holiday cottage it is for the DAO to decide whether investors will get free stays reducing the returns or rather focus on returns. They will have the power to make key decisions based on a 2/3 majority…
This is something we really need in this space.
Community power should not be underestimated, the DAOs are the perfect tool to make most out of all the smart people out there
Thanks for the explenation
The key responsibility is to collect their part of the income generated by the real estate object
But besides that they will be considered as a group to influence their objects destiny.
For example they can decide to go for AIRBNB rental rather then long term rental or they can decide to have the object sold if the price went up a lot. But all decisions based on 2/3 majority vote
One of the key offerings of Versac Brick Squad is the opportunity for everyone to invest into real estate without the need of doing KYC.
TuruGlobal doesn’t withhold any taxation from earned income but leaves it to the responsibilty of its community to manage taxation in line with the regulation of the country of residense by themselves.
Also we want to ensure liquidity of the Bricks held by our community, to give them the opportunity to sell their share at any moment.
The liquidity, the missing KYC and the kadaster regulations in the various countries we have been exploring makes it impossible to give legal partial ownership of real estate to the holders of Bricks, as each of them should be individually registered in the Kadaster as partial owners of the property and an adjustment to Kadaster should be made anytime a Brick changes ownership.
Therefore in cooperation with our lawyer we have decided to approach the brick holders of a property as a DAO, where TuruGlobal owns the property but it holds a mortgage with the DAO with the property as colleteral. This is covered in a seperate contract for every DAO. The DAO assigns one representative to be the individual with signature rights representing the DAO. In this manner there is a legal contract between DAO and TuruGlobal, where TuruGlobal borrows the sum of money representing the original value of all Bricks minted and the Real Estate Property is the colleteral against the Mortgage. The contract also states that all revenue (-costs) generated by the specific Real Estate property is provided to the DAO, who in its turn distributes it to the Brick holders proportionally.
Until the moment the DAO assigns another individual with signing rights based on voting, a TuruGlobal member who will also be part of the DAO, representing the TuruGlobal share, will be volunteering to hold the siging rights to have a legal agreement in place between the DAO and TuruGlobal.
Hope for Caribbeans in the future 
… this will be epic
