1.) What makes the Crpyto Island project so special?
The Crypto Island project will be the ultimate go-to meeting place for the cryptocurrency community. Branson and Disney did well with their ‘own island’ ideas and indeed, own their own island ideas. They had substance. If the day comes that a crypto currency funds an island acquisition, we would have truly turned a corner.
2.) So you're raising funds to buy a real, physical island?
Yes, a real island will be purchased with funds raised during the crowdfunding effort.
3.) What are the benefits of owning an island?
A self sufficient, collectively owned autonomous island would enable the cryptocurrency community to participate in a closed circular-economy and will serve as a meeting place for the cryptocurrency community.
4.) How can I invest in Crypto Island?
A token sale will be organized to secure funding for the initial investment of purchasing an island and setting up island’s infrastructure. XIT token cost at the Token Sale will be fixed at a price of 100 XIT per 1 USD. The token sale will last for 30 days. Total amount collected in USD will be calculated at the end of the token sale. The minimum amount for the token sale crowd funding effort to be considered successful is $800.000,00 (five hundred thousand dollars).
5.) Which currencies will be accepted in the token sale?
Participants will be able to contribute funds in any of the top five largest cryptocurrencies by market capitalization: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Ethereum Classic (ETC).
6.) What is the purpose of XIT tokens?
The amount of XIT held represents a proportionate ownership share of the Island. The proceeds of the Island sale in a potential event of liquidation will be distributed to respected holders of XIT. Tokens therefore have an intrinsic value backed by land. XIT token holders will enjoy the benefit of voting rights, directly impacting major decisions regarding Island’s governance. The Island will conduct business in line with both investor interests for profits and Island’s vision. Profits from business operations will be used for XIT buybacks.
7.) Is this just a fun project or can I make some money from it?
Crypto Island is not merely a fun project. Besides regular income from Island’s business operations and buybacks, the value of XIT will appreciate with the constant growth of real estate prices in the region.
8.) What is the legal status of Crypto Island?
A legal entity named Crypto Island foundation will be established, acting as a real world entity representing the interests of XIT holders while following Island’s vision. Crypto Island foundation will be established after the successful token sale in a jurisdiction chosen based on the opinion of Crypto Island’s professional legal advisers.