What is Rentberry

What is Rentberry? ICO Analysis 2021 - Dobrebit Coin

Rentberry: A blockchain solution for long-term rentals

Rentberry is a long-term rental platform that uses blockchain technology to streamline the rental process for tenants and landlords alike. With smart contracts, they offer users unique features such as crowdsourced rental deposits and auctioned rental prices.

The Rentberry token is already on sale, but you can go until February 28 still make a contribution to their ICO.

Rentberry Key details

Ticker: BERRY

Token type: ERC20

ICO token price: 1 ETH = 2500 BERRY

Fundraising goal: $ 30, 000, 000

Total token: 400, 000, 000

Available for token sale: 280, 000, 000 (70. 0%)

Know your customer (KYC): Yes

Accepted: ETH, BTC

What is Rentberry?

Rentberry integrates blockchain technology with most of their platform. However, there are some unique features that help the company stand out from the competition.

Crowdsource security deposit

All members of the Rentberry community can use the platform's BERRY tokens to interfere and help with someone's safety performance - up to 90% of that. When you contribute, you will receive 3-7% interest in the form of more BERRY tokens.

The aim of this program is to secure high-quality rental properties for tenants that they would otherwise not have been able to use due to high deposit costs.

This is an interesting feature, but it can take users some time to figure out the exact interest rates. The risk profile of every tenant depends not only on their history, but also on the security provided by each property. If this is not standardized, it can be difficult for an ordinary user to determine exactly what a good ROI should be.

Auction technology

Instead of taking rental prices from the landlord for his properties Tenants at auctions for the properties they want to rent. Rentberry is already successfully using this process on their current platform and intends to keep this after the blockchain integration.

Once the team has implemented the blockchain, it will cost BERRY 1,000 (~ $ 200) to submit an application to participate in the auction of a property. If your bid is accepted, 950 tokens of your BERRY payment will cover part of your rental costs, while Rentberry will receive the remaining 50 BERRY as a fee. If you don't win the auction, your entire BERRY deposit will be refunded.

It is unclear whether the registration fee will change if the BERRY token goes up (or goes down).

BERRY token

BERRY is an ERC20 token and the exclusive payment method on the platform. Landlords collect rent through BERRY tokens and can use them for other Rentberry services such as:

  • Property promotion and marketing
  • Crowdsourcing investments in value assets
  • Third-party services (cleaners, craftsmen, etc ...)

Token sale

The sale of the Rentberry token began on December 5, 2017 and will last until February 28, 2018. The company has a limit of $ 30 million and will end the token sale early if they reach this amount.

The team can also extend the closing date up to three times at its own discretion. If the company earns less than $ 3 million at the end of the token sale, the money will be returned to all participants.

1 ETH contribution will bring you 2500 BERRY, but you can get a bonus by bringing in early. The bonuses follow the following schedule:

  • December 5th - December 19th: 33% bonus
  • December 20th - January 16th: 27% bonus
  • January 17th - February 28th: 25% bonus

So, if Rentberry doesn't decide to extend the token sale, everyone will receive a bonus.

The minimum amount you can deposit is 0.1 ETH against 250 BERRY plus the bonus. Rentberry accepts either Bitcoin or Ethereum contributions.

competition

Rentberry has no well-known, direct competitor, especially in the blockchain space. Airbnb is likely its closest competitor but tends to be more focused on short term rentals. Long-term rental properties are usually advertised and managed by local companies that differ from place to place.

Rentberry is currently in nearly 5,000 cities in America and has plans to expand internationally by 2020.

Rentberry team

Unlike many other ICOs, Rentberry is already an established business with significant growth numbers. Founded in 2015, the team of 23 has $ 4 million collected and had a growth of 53% in the third quarter of 2017 compared to the previous month.

Alex Lubinsky, Lily Ostapchuk and Aleksey Perfilov lead the Rentberry team. Their well-rounded expertise covers most of what you would want to see with a leadership team in the field. Lubinsky is a real estate owner who has previously sold several successful companies. Ostapchuk has experience as Marketing Director as well as Chief Product Officer and has managed rental apartments around the world.

The technical team raises a few flags. Perfilov, Rentberry CTO, has extensive software development experience but can work at Amazon, at least part-time, according to his LinkedIn profile. The blockchain developers on the team also seem to have little blockchain experience, which can be worrying.

On the plus side, Rentberry has a wide variety of advisors, including Adi Ben-Ari, the CEO of Applied Blockchain.

Rentberry Pros

  • Proven track record. Rentberry has been operating successfully for 3 years with impressive growth numbers in recent times. They also raised $ 4 million which proves that there are others out there who believe in the team and their vision.
  • Clear distinguishing features . The team not only uses blockchain technology and applies it to a standard business model. They're innovating the long-term rental process and using smart contracts to simplify it.
  • Advisor support . The team has a large roster of consultants spanning several relevant industries.

Rentberry Cons

  • Lack of blockchain experience. The development team doesn't seem to have a lot of experience building blockchain applications. This could cause problems on the road.
  • Potentially unnecessary token . Users may not want to be forced to use the BERRY token. If the platform does not offer an easy way to "pay out", landlords and tenants can switch to an app that accepts Fiat instead.

Final thoughts

Rentberry brings blockchain to long-term rentals and offers all parties a one-stop rental. The new platform should not only reduce operating costs, but also offer notable features such as rental auctions and crowdfunding for security services.

It's a good sign that the company has already had success, but it's still unclear whether or not an ICO is necessary. While the development team may not have any experience with blockchain technology, Rentberry's extensive network of consultants, investors, and partners should provide sufficient support to mitigate this risk.

The most important factor to keep in mind is whether existing users are adopting the new platform and new tenants are coming to Rentberry at the same impressive rate of growth.

The token sale is currently in progress and you can participate through its website.

You can find more information about Rentberry in their whitepaper here.

Additional Rentberry resources

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