Mystery Behind IMMO Project: No ICO, 1000 of Top Blockchain Thinkers, Closed-Door Meetings for Investors

Mystery Behind IMMO Project: No ICO, 1000 of Top Blockchain Thinkers, Closed-Door Meetings for Investors

 
SHARE:

The mysterious project IMMO foundation was mentioned on various occasions by Vitalik Buterin, Jimmy Song, Tim Draper, Simon Cocking and other influential members of crypto community. Notably, the project has been discussed during the G20 Summit in Argentina among such crypto topics as the Bitcoin price movements, dollar backed up Tether and lack of ICO regulations. That means that the banking and governmental leaders from selected countries have found it worth their time to dive deeper into the project the public knows a little about.

The discussion on the “world reserve cryptocurrency secured by intrinsic values” was held behind the closed doors and the public once again was left with nothing. While society is actively discussing Bitcoin, Tether and ICO regulations, public information about IMMO mentions is relatively scarce. At the time of publication, Google gives only about 3.7 mln search results to the search request “IMMO Foundation”, comparing to 753 mln to  “Bitcoin”, 198 mln to ”ICO” and 57 mln to “Tether”.

Information Leakages Shedding Light to the IMMO Mission

The anonymous group, or secret society, was good at keeping their information private, but some information has been leaked. From these leakages one claim has become public – IMMO claims to be the Intrinsic Value Token – “a world crypto standard and reserve cryptocurrency for blockchain that is commonly used in international transactions, international investments, and all aspects of the global economy”.

The foundations of the projects are stated as “eternal and unshakable”. At the web page, one can find a quote from Warren Buffet on inadequacy of trying to maintain capital in cash equivalents. In addition, it is claimed that the functioning of IMMO “will not depend on technology and time, and the interests of investors will be fully met through a ramified monitoring and counterbalancing system”.

The legal structure is stated to be within the current legal framework. According to some sources, the project one-pager dubbed IMMO Essence mentions that the legal framework was confirmed by one of the “Big 4” audit and consultancy firms, Deloitte. If true, it becomes clear that the project is above well financed.

Last year summer leakages, that were immediately reported in crypto media, mentioned that the governance of the foundation is planned to be in hands of so-called High 1000 – a community of project evangelists and experts. The members of the elite community will supposedly serve as guarantors of the rights of the investors, will vote for certain changes, and, obviously, get bonuses in forms of dividends.

Additionally, some light was brought to the criteria for selecting High 1000 elite with the leakage of IMMO Code. Apart from the requirement to be recommended at least by two current members, one has to satisfy at least these criteria:

  • Be the speaker at the largest crypto-conferences (Blockshow, Consensus, Devcon3 etc.))
  • Rated within the Top-50 on crypto sites
  • Adviser or the first person of technological, financial or crypto companies or start-ups preaching an innovative approach to business
  • A large number of followers across social networks

By the way, all are invited to try the luck submitting the application form.

The High 1000 Community List Will Be Open to Public

The LinkedIn page of the organization shows that the company operates in the field of Venture Capital and Private Equity with a legal address in Prague, the capital of Czech Republic. The company has 501-1000 employees, which consists of the mentioned above High1000 members.

At the time of publication, 66 Linkedin users from all over the world indicated that they are connected to the organization. Antoshi Popov, who claims to be part of High1000 for 7 months, describes the organization in the following way:

“IMMO.FOUNDATION is working on incredible things. We are not having an ICO. The High1000 is comprised of many of the industries top thinkers, techs, influencers, media reps, highly active members of the community, lawyers, artists, you name it, we’ve got it.”

The description is not unique and is supported by Alexander Mamasidikov, who resides in Emirates, and other members. Some mention only the membership without describing the project, as Bonnie Normile from California, Md Mofassair Hossain and Shohel Alam from Bangladesh, Mohamed Shoieb from UAE, Qusai Sharef from Palestina, Timo Tripper from Germany, Mihai Alexandru Bisnel from Romania. Abhijith Naraparaju and Manav Kalra from India, Alexander U. from San Francisco, Ratz A. Rottweiler from Switzerland, Abiodun Ayorinde from Nygeria.

Notably, most of the LinkedIN members indicated that their involvement started from 6 to 10 months ago, mentioning the location in Prague with a rare exception (some mentioned Malta). The amount of women is astonishingly low, way behind even the blockchain industry unequal gender distribution.

The Creators Of the Project Remain Anonymous And the Speculations Arise

Last year in the midst of the speculation about the foundation – its connection to the oldest banking dynasty and accusations of being the market “whales” behind certain price movements – Forbes has published an exclusive interview with IMMO Evangelist Gabriel Brack, who denied the connection of IMMO creators to the Rothschild Family. According to his opinion, one of the sources of these rumors could be his previous connection to the family, as he was longtime Trustee and Protector of the Rothschild Family trusts, worked at the Rothschild group from 1988 to 2008:

“I can say unequivocally that the involvement of the Rothschild family in the creation of IMMO is purely speculative… We do not want the community to disseminate information that is known to be false. Speculations about the project are completely out of control, it’s time to put all the rumors to rest”

IMMO Evangelist pointed out that a closed meeting might have been just a normal part of private sale for privileged clients:

“IMMO has been conducting closed meetings because the Partner Sale has begun for privileged clients. However, there is nothing secret about that”

One can only speculate why Vitalik Buterin mentioned the connection of the foundation to Rothschilds. Some community members suggest that the reason for his rhetoric might be the fact that he has not been invited to be part of High1000 elite and has as little information as others. Yet attentive web page viewers cannot miss the ETH icon along with EOS icon.