Detailed Plan

Build an NFT marketplace that will act as a real estate market for buying, selling and investing in real estate. Tokenized properties will be bought and sold via smart contracts drastically reducing transaction costs and timelines.

The first version of the marketplace (what we are requesting funding for) will be geared toward real estate investments, our flip tokens. Through the network we will be able to crowdsource the funding needed to renovate the tokenized property via our partnership with a qualified contracting team. This first iteration of the network will be easiest to implement because there are far less bridges to cross. The property ownership never actually transfers to the investors, no lending is involved, and the typical ADA wallet will suffice - the features planned for our network user wallet in the long term are not required for this. This initial functionality will simplify real estate investing, open real estate investing to investors with minimal capital/experience & reduce fees/responsibilities. We will establish a solid base of users by providing a simplified way to invest in profitable real estate projects, while introducing the idea of buying real estate with ADA. While the network operates as an investing platform, our development team will be working on the integration and implementation of the functionalities required to actually buy and sell (transfer legitimate ownership) tokenized properties on the platform.

As our number of partnerships increase, adoption and development will continue to grow. We will then deploy the later versions of the marketplace, wallet, and property token that will allow for smart contract home purchases and sales on The Network. At that point we will have 5-7 well trained real estate agents working within successful brokerages across at least 7 states, generating buyers, sellers, investors, and properties to continue populating the network.

REQUESTED FUNDING: $40,100

**LAUNCH DATE:**01JAN2022

How funding will be used:

Development Cost: $20,000 (Development up-to Flip Token functionality for 10-25 users)

Stage 2 DEV Cost: $8,000

Create user profile and user acceptance checkpoint

Integrate verification tool

Integrate database - personal setting storage for each profile

Updating Marketplace UI

Wallet V1 DEV Cost: $8,000

Dapp connector R & D + Integration

Building Wallet UI

Updating Marketplace UI

Wallet/Marketplace Functionality Cost: $4,000

Wallet/Marketplace connectivity R & D

Integration repairs

Marketing Cost : $11,700

Full time pay for head of marketing: $7,200 (1,200/mo)

Content creation: $1,500 (3 platforms, 3 post per day)

Social media ad campaigns: $3,000 ($1000/mo for ads)

Growth/Adoption Plan Cost: $8,300

Goal is to establish at least 1 partnership in 7 total states (2 states currently established MA & VA) by 01JAN22 Launch date.

Schedule meetings with 15 brokerages to pitch and acquire AT LEAST 1 partnership in each state. Schedule 3 pitch meetings per day for 5 days (Mon-Fri) prior to travel. Once partnership is acquired 5 days of training the new team to implement new leads, system and skills. Each partnership will generate new investors to be added as users on the network, generate properties to be tokenized and establish 5-7 agents that know, support and further the adoption of the network. Partnership details: [Doc. Link]

**Full time pay: $8,400 (Used to pay for the items below)**

Fuel: $400 *390 miles per tank of gas at $40/fill* (10 fills)

Lodging : $5,000 ($1,000/location)

Food: $2,900

Success timeline:

3 Months -

• Complete development of the marketplace/wallet to allow users to invest in Flip Tokens.
• Reach 10 investor users on the network.
• Established 7 functioning partnerships with brokers & contractors that generate investment properties and users for the network.
• Reach 25K ADA staked in the CHOSN pool with at least 15 delegators and mint first block.

6 months -

• List first Flip Token, receive investment from users, and start first renovation.
• Reach 25 investor users on the network.
• Established 10 functioning partnerships with brokers & contractors.
• Reach 50K ADA staked in the CHOSN pool with at least 30 delegators and reach point of consistently minting blocks.

12 months -

• Complete first Flip Token renovation and distribute profits to users.
• List 5 Flip Tokens.
• Reach 50 investor users on the network.
• Established 15 functioning partnerships with brokers & contractors.
• Reach 75K ADA staked in the CHOSN pool with at least 50 delegators and reach 50K of the 250K charity goal.
• Complete development of Marketplace V2 (smart contracts fully integrated), Wallet V2 (ability to store users funds, properties and equity), and Property Token V3 (full functionality).
• Reach a treasury balance of roughly 250K USD to allow for the first user network purchase of property token directly from the network via smart contract.

Big picture summary: A marketplace where properties can be bought almost instantly and sold in a fraction of the time it currently takes. Opposed to the current MLS structure where only real estate agents have access, The Chosen Homes Network is open to everyone that creates an account and verifies their identity. Along with gaining access to the marketplace, creating an account also creates a digital wallet for that user. This wallet securely stores a user’s funds, equity and properties all in one place. This wallet allows users to send funds to buy a property and invest in flips, as well as receive funds for selling or receive their profits from a flip they’ve invested in. This will drastically reduce real estate transaction fees, saving both the buyer and seller money on every transaction. Transitioning real estate transactions to the blockchain will not only increase speed and efficiency but every property added to the network has its transfer and lien history coded into it, which is then automatically updated upon every future transfer. This establishes a new standard for accuracy and transparency of property ownership documentation. The fuel to the engine that is The Chosen Homes Network is its ADA staking pool. The ADA staked in the pool provides a consistent flow of currency that will allow The Chosen Homes Network treasury to back the value of the tokenized properties allowing for the instantaneous transfers. The treasury is able to act as the required party in any transaction, being the immediate buyer of a property being sold and providing a marketplace of available properties for users to purchase. This treasury/pool also allows us to completely restructure the lending side of homeownership by selling tokenized properties via smart contracts coded with terms of monthly repayment to the pool, radically reducing the financial obligation of homeownership and interest paid to own a home. This lending restructure routes the money that would otherwise be bank and mortgage lender profit. Instead each monthly payment is disbursed to the homeowner themselves, as they hold their equity in their Network User wallet, and to the treasury/pool that also provides consistent long term rewards to its delegators and uses 100% of its margin for charity.

Team is not showing up for me so I am adding their emails/usernames below:

Co-submitters: [email protected] , [email protected] , @christobear (DEV)