Real Estate: LucentBlock, Finnacle
LucentBlock, a fintech company operating the fractional real estate investment platform ‘Soyou’, announced on March 8th that its 8th real estate property, ‘Sindorim Pinpoint Tower 2’, has been successfully sold out. The total amount raised was 2.13 billion won. Their previous offering, the 7th property, also sold out in 2 hours and 45 minutes, marking a successful run. LucentBlock emphasizes easy and fun investments with small amounts of money, aiming to enhance the real estate ownership experience, especially targeting the generation in their 20s and 30s.
As part of its strategy to enter the real estate-based fractional investment market, the fractional investment startup Finakle has chosen to collaborate with Metheus Asset Management. Through this partnership, Pinnacle will provide real estate product development, technological capabilities, and various profitability enhancement measures for issuing real estate-based token securities. Metheus Asset Management will be responsible for securing and advising on prime real estate development, known for its track record in real estate PF loans, purchasing and directly developing logistics warehouses and office buildings.
Commodities: Yeolmae Company
Yeolmae Company, the first in South Korea to issue art-based fractional investment securities, has announced plans to issue commodity-based fractional investment securities. In an interview with Yonhap Infomax on the 14th of last month, CEO Kim Jae-wook said, “In addition to issuing art-based fractional investment securities, we want to expand to new underlying assets and are currently undergoing legal review for issuing investment contract securities based on commodities.”
Lacking expertise in commodities, Yeolmae Company plans to partner with large corporations experienced in handling commodities. The company aims to issue its first commodity-based securities in the range of 30 to 50 billion won, investing 10% of the total issuance amount, akin to GP money.
Art-Based Fractional Investments: TogetherArt, Yeolmae Company
The second challenge for art-based fractional investment companies has begun. Yeolmae Company and TogetherArt have submitted their investment contract securities on February 29th and March 4th, respectively, drawing attention to how the follow-up to their first products will fare. Last time, both companies had success in their offerings based on different works by Japanese artist Yayoi Kusama titled ‘Pumpkin’, but faced under-subscription for both artworks, failing to meet expectations. This time, Yeolmae Company presented ‘Dialogue’ by Lee Ufan, and TogetherArt introduced ‘The Horizon of Insanity’ by American artist George Condo.
Livestock: StockKeeper
StockKeeper, opening the livestock fractional investment market, has resubmitted its securities registration statement, withdrawn a month earlier, to re-launch the offering based on calves as the underlying asset. The initial withdrawal was due to a request for amendments, citing the impact of feed price fluctuations on investor protection. StockKeeper submitted the securities registration statements for Livestock Investment Contract Securities No. 1-1 and 1-2 on February 20th to the Financial Supervisory Service. Unlike art, livestock raising and management incur costs, necessitating the provision of this information to investors. The submission includes explanations on global economic trends, domestic beef market trends, feed prices, and wholesale prices of major beef cuts. If there are no further amendment requests, the subscription for the livestock investment contract securities is planned from this month until April, aiming to raise a total of 864.8 million won through two rounds of 21,630 shares each.
Ships, Etc.: BuyCellStandard
BuyCellStandard, which opened the fractional investment market with luxury watches like Rolex as the underlying asset, aims to diversify its targets. It plans to issue products in the form of non-monetary trust beneficiary certificates for large assets, especially ship financing, within the year, becoming the first platform capable of handling both types of new securities: investment contract securities and non-monetary trust beneficiary certificates. The target underlying assets include K-assets such as entertainment, webtoons, OTT services, as well as ships, e-commerce, art, real estate, and high-end tangible goods.
