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The idea behind the project is to raise funds via cryptocurrency to create a “New Ecosystem” through the famous blockchain technology. It is in fact the world’s first electronic option for real sand.
Why Buy Sand Coin?
Sand is the basic ingredient of roads, houses, buildings, and every infrastructure. Moscow is one of the largest cities of the world. But the region also has poor transportation infrastructure. So, President Vladimir Putin, being fully aware of this, endorsed a plan to restructure the entire region by demolishing the old residential properties and replacing them with modern units.
The authorities of the Sand Coin project already have about 270,000 acres of land in the entire region. It has a potential to become a mortar sand quarry for the city-remodeling project. So, they’re offering units of sand to the investors, and the money will be directed towards converting the plot into a sand mining entity. Soon, after 9 months or so, the company will start to buy back sand coins.
What’s Done So Far?
The project began in August 2017. SND is the name of the token and it is valued at USD 0.95. Initially, the Pre-ICO was estimated at about 230,000 and the ICO phase will be offering around 3,170,000 SND. By then, 1 SND will be valued at $1.25-$1.35. The ICO date is September 18, 2017.
According to their website, over 1,500 ETH (Ethereum – the name of the platform used for the ICO) have been contributed so far. The Pre-ICO and private campaigns launched by the management has resulted in substantial earnings for the project.
The roadmap of the Sand Coin project indicates that the company has everything planned. The ICO is due in mid-September, after which everything is set for technical work which is expected to commence in April 2018. The company would start to buy back SND tokens in July 2018 at the then-listed value.
The plan is to buy back 10% SND every year and this buying will continue until they reach 50%. Meanwhile, an investor can exchange SND themselves at a rate of 1 SND per 1 cubic meter of sand.
Considering the present sand price, 1 cubic meter of sand goes for $5.30, which is way above the rate offered by the company. Therefore, it’s an attractive opportunity for the investors to buy the sand, and later, sell on higher rates....tune in for our full review!
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