Equity Platforms, Inc., a public benefit corporation (DBA EquityCoin) announced the launch of their first crowdfunding offering, which can be found at https://seedathetable.com/campaigns/equitycoin.
Led by CEO Vernon J., EquityCoin™ is the first digital token on the blockchain backed by affordable housing. The company seeks to modernize the real estate funding apparatus by replacing the centralized paradigm with the burgeoning sharing equity economy model.
According to the State of Homelessness: 2021 Edition Report, on any given night in America, there are over 500,000 people facing homelessness, and to add insult to injury, a recent Pew Research study revealed that the wealth gap has more than doubled since 1989. “Lack of affordable housing and the widening wealth gap are the crises of our time, and something must be done,” proclaimed Vernon J. “Equity Platforms, Inc. and the EquityCoin token were developed to tackle these two societal issues.”
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Vernon continued by stating that “Blockchain and Web3 are the great equalizers of our time. We need solutions that combine scalable technology with private and public programming in order to dramatically increase access to both affordable housing and rental income.”
More than just a digital token, EquityCoin adds civility to wealth-building. In fact, the creation of EquityCoin was inspired after Vernon saw the challenges of homelessness firsthand while renting one of his available units in East New York, Brooklyn, NY to a single mother living in a shelter.
“Once I handed her the keys to the apartment, she wept with tears full of joy. That feeling of fulfillment was inexplicable; and it was at that moment I knew my purpose was to dedicate my life to helping thousands of other families in need,” says Vernon.
“Our communities have long been kept out of the conversation of ownership and generational wealth,” expressed Michael McConnell, EquityCoin’s Director of Community Engagement. “My role has been to make sure that we have our ear to the streets, keep people informed of our work, and connect with the players who can open doors.”
To accelerate growth, the company is white-labeling their proprietary system and smart contract, offering the infrastructure required for other real estate community developers to tokenize their portfolios with a platform dubbed EquityShare™. The startup’s goal is to create $1B in net worth for communities of color by 2030 through real estate tokenization.