NOT A HOTEL announces it will issue virtual currency to raise 2 billion yen to purchase real estate

vacation home and hotel operator NOT A HOTEL (Shibuya, Tokyo) announced the issuance of cryptocurrency NOT A HOTEL COIN (NAC). The company aims to raise 2 billion yen, the largest virtual currency financing amount in Japan. This funding will be used to purchase and develop real estate.

The company's wholly-owned subsidiary, NOT A HOTEL DAO, will issue virtual currency and raise funds through the IEO (Initial Exchange Offering) mechanism, and will start accepting IEO applications on leading exchange operator GMO Coin from March 31st. The minimum purchase amount is 10 NAC.