Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: TomPluz on August 21, 2024, 08:32:31 AM

Title: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: TomPluz on August 21, 2024, 08:32:31 AM

(https://cimg.co/wp-content/uploads/2024/08/19063745/1724049465-1724049281636_processed.jpg)

Quote
The Colorado House of Prayer, a network of affiliated church groups, has embarked on an initiative to purchase their main chapel by leveraging blockchain technology.

The group has tokenized the “Old Stone Church,” a historic 11,457-square-foot building, in an effort to raise $2.5 million to secure ownership.

According to Bush, the idea to tokenize the building came to him during a spiritual experience.

“I heard the Lord say, ‘tokenize the building,'” Bush told Forbes, emphasizing that this direction was the culmination of years of prayer.

He firmly believes that this project is a mission to reclaim what he refers to as “God’s house.”

More of this spiritual development here.  (https://cryptonews.com/news/colorado-church-network-tokenizes-chapel-to-raise-2-5-million.htm)


Wow...this RWA tokenization marks an important milestone, the entrance of the blockchain technology in the spiritual market. And this is telling us how the blockchain technology can be utilized by many sectors of the society, taking advantage of the power of tokenization. And with the story above, we can now say that even the heaven is officially recognizing blockchain technology and maybe even cryptocurrency, for that matter. Do you think there will be more tokenization to come from religious organizations because of this?






Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: ABCbits on August 21, 2024, 11:57:38 AM
I initially thought they plan to tokenize the building. But it turns out they create token and sell it, with goal to buy the mentioned building. While their approach generate some hype, i hope it wouldn't make current owner of the building raise it's price.
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: Zed0X on August 21, 2024, 01:36:43 PM
Quote from: ABCbits on August 21, 2024, 11:57:38 AM
I initially thought they plan to tokenize the building. But it turns out they create token and sell it, with goal to buy the mentioned building. While their approach generate some hype, i hope it wouldn't make current owner of the building raise it's price.
Yeah, I also think it's just a fund raising event trying to use the hype of cryptocurrencies. They don't even need to create a token for this purpose but I guess the holy voice mentioned a clear instruction.

I'm not all too familiar with RWA tokens but are these types of tokens tied to another token? It's weird that they have Stone Coin that's also connected to another token called REtoken
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: Lucius on August 21, 2024, 04:00:51 PM
Quote from: Zed0X on August 21, 2024, 01:36:43 PM
Yeah, I also think it's just a fund raising event trying to use the hype of cryptocurrencies. They don't even need to create a token for this purpose but I guess the holy voice mentioned a clear instruction.
~snip~

This is funny, Lord appeared to someone during prayer and asks for tokenization - and no matter how much someone is a man of faith, if he believes that Lord deals with cryptocurrencies and tokens, then he definitely has a big problem. I would seriously doubt what that man is saying, because I think that this whole story has very little to do with faith, and a lot more to do with the fact that it dawned on someone how to make a lot of money out of nothing.
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: target on August 21, 2024, 04:50:04 PM
There was a pastor who did that before so if you think there wil be more tokenization after that building being tokenized, you sure will see more.  Hope this one will have a success story.

I think this is not the first time a pastor scamed their believers which they tokenized their church. Someone did this long before this Colorado church. I think it was in the news but not making a big share to social media. Theyre just too disappointing to share.
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: Asiska02 on August 21, 2024, 07:17:48 PM
Quote from: TomPluz on August 21, 2024, 08:32:31 AM
Wow...this RWA tokenization marks an important milestone, the entrance of the blockchain technology in the spiritual market. And this is telling us how the blockchain technology can be utilized by many sectors of the society, taking advantage of the power of tokenization. And with the story above, we can now say that even the heaven is officially recognizing blockchain technology and maybe even cryptocurrency, for that matter. Do you think there will be more tokenization to come from religious organizations because of this?

So far I haven’t seen any religious group that have denied their users from participating in the blockchain technology or even told them not to do them because they’re scam or not good as the government see them. Tokenization of the building been revealed to the pastor will kind of raise some doubts from some people into thinking that they may be scammed but it all depends on his relations with his members and how they trust him.

In the past, I have seen news of pastors scamming their victims through this same blockchain initiative, whatever the case may be, if it’s for a good course, they should embrace and support it. I have also heard about an Islamic token in the past, but I don’t know how far the success of it was. In the coming years, we may see more religious groups embracing the technology, I just hope they’re truthful and not scam their followers for their personal gains.
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: NotATether on August 22, 2024, 01:46:22 PM
So basically, in order to buy the church building, they just made an NFT out of it and sold it to (what seem to be) wealthy people?

That's interesting.

They must have found really rich donors to sell this too, although they could've just done a normal fundraiser since they are probably 501(c) tax-exempt anyway.
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: Faisal2202 on August 23, 2024, 10:33:03 AM
Quote from: TomPluz on August 21, 2024, 08:32:31 AM
Wow...this RWA tokenization marks an important milestone, the entrance of the blockchain technology in the spiritual market. And this is telling us how the blockchain technology can be utilized by many sectors of the society, taking advantage of the power of tokenization. And with the story above, we can now say that even the heaven is officially recognizing blockchain technology and maybe even cryptocurrency, for that matter. Do you think there will be more tokenization to come from religious organizations because of this?
No offense but who would believe such statements I mean God asked Bush to tokenize the building I mean really, I am not talking about every person related to this religion but only this one who IMO trying to make money in the name of God and tokenizing the building I mean who would really believe it.

Overall it's not a shocking thing for me because I have heard in the news that some people are selling land in Heaven I mean for the money you can buy land in Heaven that's the totally opposite of what's going to happen I mean no money can buy you land but your kind acts will I am also a religious person but sorry to say this is so untrue and fake.

Although the idea to raise funds by tokenizing is a good one by saying god has asked me is just over-acting. 
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: robelneo on August 23, 2024, 02:17:32 PM
When a church leader uses the vision and dreams that the Lord talked to him, it's the easiest way to compel the flocks or followers to support the cause; this is the same method used by all church leaders in the old days. I hope all the other leaders use the same method of vision and that the Lord talked to him about the method for people to adopt cryptocurrency.

But it's a good idea for church members to understand and adopt Cryptocurrency; in the future, many church leaders will ask for donations through Cryptocurrency
Title: Re: Colorado Church Network Tokenizes Chapel to Raise $2.5 Million
Post by: Bobcrypto on August 24, 2024, 10:55:38 PM
Quote from: NotATether on August 22, 2024, 01:46:22 PM
So basically, in order to buy the church building, they just made an NFT out of it and sold it to (what seem to be) wealthy people?

That's interesting.

They must have found really rich donors to sell this too, although they could've just done a normal fundraiser since they are probably 501(c) tax-exempt anyway.

It would have been better call a fund raising for the church rather the tokenization. I am begining to see this approach as a strategy to launch a token or NFT  to attract new members to buy this token or  NFT. This is very surprising because I am yet to hear any religious organizations like the church coming into crypto, it could be something some people want to introduce and watch how the crypto community reacts.
I will suggest that we watch out for more of this kind of event.
Cryptocurrency is growing very fast, and if the religious organizations  are coming aboard, it may increases awareness and adoptions at the long run.