meg primeTexas-based associates and subsidiaries of Megatel Propertiesplans to launch MP Token, a digital forex designed as a rewards platform that renters and householders can use as a monetary path to homeownership.
This system presents as much as $25,000 in down fee help and homebuyer help to renters who join as an incentive to take part within the Perks MP Token program.
MegPrime Holding LLC no action letter This may permit the corporate to start out working the MP token and MegPrime platform.
Zach Ipour, CEO and co-founder of Megatel Properties, mentioned: Builder’s Each day The corporate mentioned it plans to launch a brand new digital forex and up to date MegPrime platform in Texas within the coming weeks, with a nationwide rollout by the top of 2026.
Based on Ipour, inside 24 hours, hundreds of individuals contacted the Megatel staff expressing curiosity in utilizing the MegPrime platform and MP token.
How the MegPrime platform and MP tokens work
MegPrime and MP token customers are eligible to obtain varied rewards. Under are the highlights.
- down fee help: Renters who paid their lease by way of the MegPrime app utilizing MP tokens can get again 100% of their final 12 months’ lease (as much as $25,000) as a down fee or bills associated to a house buy.
- Rental help: Clients can earn 20% month-to-month rewards by discovering an house by way of MegaPrime affiliate search, signing a rental settlement, and paying lease on the MegaPrime platform utilizing MP tokens.
- Mortgage curiosity subsidy: Customers can entry mortgage rates of interest as much as 2.0% beneath market charges when paying with MP tokens by way of the MegPrime app.
- each day bills: Customers can earn as much as 10% on on a regular basis purchases utilizing the MegPrime crypto debit card.
Ipour in contrast MP tokens to Bitcoin and Ethereum, noting that customers should buy MP tokens on Coinbase and different crypto exchanges. MegPrime additionally plans to supply bank cards to its clients.
Megatel Properties, a developer of multifamily communities and single-family houses, has been providing down fee help plans for its clients since 2019.
“We consider that the idea won’t solely enhance our gross sales quantity but in addition assist a major variety of homebuyers who would in any other case not be capable to buy a house,” Ipur defined.
Ipour mentioned Megatel has been in talks with affiliate companions, together with dwelling builders, who’re involved in becoming a member of the MegPrime platform and MP token. Because of this, it is possible for you to to obtain down fee help for quite a lot of houses.
“Most significantly, we wish to emphasize that this isn’t simply restricted to Megatel Properties. That is surprising information. If you are going to buy from Megatel Properties or considered one of our eligible builders, you’ll be able to obtain as much as $25,000,” Ipur mentioned, explaining that customers can even obtain as much as $15,000 in rewards on different houses.
The profit may be utilized to safe decrease mortgage charges, and Ipur defined that it’s “purely for non-megatel houses and present houses” as “sellers of present houses are presently unable to supply the rate of interest incentives supplied by dwelling builders.”
Affiliate builders affiliated with MegPrime plan to sacrifice margins in trade for elevated quantity, and Megatel plans to drive mass adoption of the platform by way of incentives, just like how bank cards use enhanced rewards programs to quickly increase their person base.
“Our [business plan] Consumer adoption and ecosystem quantity creation. We are going to provide you with these key incentives as finest we are able to to resolve issues for homebuyers, and in return, extra folks will be a part of our ecosystem,” Ipur mentioned.
The SEC, run by pro-crypto chairman Paul Atkins, authorized the MP token after a number of years of labor by the Megatel staff.
“We have now been concerned within the housing trade for a few years, whether or not it’s renting flats or promoting single-family houses, and now we have all the time dreamed of developing with options that may resolve this housing affordability disaster,” Ipur mentioned.
