Swiss Timeless Luxury Group, which specializes in luxury holiday villas, resorts and lifestyle products, has partnered up with AmaZix, a blockchain advisory firm to offer a “digital security offering” (DSO). The DSO will give holders of the token a 40% cut of the profits of the luxury experiences company, as well as a 20% discount on bookings.
Timeless has opened up its DSO to US accredited investors by using a US-registered broker dealer as well as a SEC-registered transfer agent for the issuance and custody of digital securities.
Timeless has two concept properties on its books, but it’s planning to grow based on the proceeds of the DSO. It has another 41 properties scoped out as well as a resort.
Michael Gössl, founder and CEO of Timeless explains:
The business has been successfully demonstrated and proofed through the Austrian concept properties Wilder Kaiser and Zell am See. After analyzing and optimizing them, we expanded the scope and are developing a strong project pipeline. We have identified up to 41 potential new hideaway properties along with a planned resort and we are now seeking to raise capital of up to USD100 million through the DSO to acquire and develop these.
Token offerings are slowly coming back to the market after a six-month lull. The revival has been spearheaded by Initial Exchange Offerings, where tokens go straight to exchange listing. Just today Lennix Lai, the financial market director for OKEx, said that the IEO trend has driven up the market sentiment.
Advising Timeless is AmaZix, a company that has worked with over 120 ICOs since it began in 2017.
Jonas Karlberg, CEO of AmaZix said:
Timeless is precisely the reason we at AmaZix love to work in this space – to get the chance to partner with such unique opportunities. The business model is as unique as the fundraising model in this case, with a compliant DSO being the vehicle. AmaZix believes in programmable, regulatory-compliant digital securities, and we are very pleased to be associated with one of the first to strike a path in this direction.
With substantial discounts on its high-end luxury villa and yachts, Timeless must be hoping that the crypto-wealthy are looking for a holiday now the markets are showing signs of life again after many months in the doldrums. If that’s the case then maybe its digital security offering will hit the spot.