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OFA Group Enters $7.5 Million Tokenization Platform Services Agreement for Vero Beach, Florida Residential Development Project
Rolling Hills, California, May 14, 2026 (GLOBE NEWSWIRE) -- OFA Group, Inc. (NASDAQ: OFAL) (“OFA” or the “Company”), a technology-driven architecture, real
About this update from Ofa Group
[{"type":"text","content":"Rolling Hills, California, May 14, 2026 (GLOBE NEWSWIRE) -- OFA Group, Inc. (NASDAQ: OFAL) (“OFA” or the “Company”), a technology-driven architecture, real estate, and digital asset infrastructure company, today announced that, on May 8, 2026, the Company entered into a Real World Asset Tokenization Service Agreement (the “Agreement”) through its proprietary Hearth RWA tokenization platform with Vero 60 LLC and Vero Beach Land Development LLC (or its designated special purpose vehicle) (the “Client”). Under the Agreement, the Company will provide blockchain-based tokenization technology infrastructure services in connection with the Client’s residential real estate development project located in Vero Beach, Florida (the “Project”). The Project consists of the redevelopment of an existing agriculture property into a low-density residential community. The projected stabilized value of the completed Project, as estimated by the Client, is approximately $500 million, subject to confirmation by an independent valuation report prior to token issuance. The projected Project value reflects the Client’s estimate for the completed development and does not represent any economic interest of the Company in the underlying real estate. Platform Technology Fee As consideration for the technology and tokenization infrastructure services described in the Agreement, the Client has agreed to pay the Company a platform technology fee of $7.5 million (the “Platform Technology Fee”), payable in two installments of $3.75 million each, subject to satisfaction of the milestones specified in the Agreement. The Platform Technology Fee is payable in U.S. dollars or, at the Client’s election, in Bitcoin or USD Coin, in each case as more fully described in the Agreement. The Company has received the first installment of $3.75 million in accordance with the terms of the Agreement. The Platform Technology Fee: is contractually established under the executed Agreement;is not contingent upon the success of any capital raising, token sale, or investment activity, and is payable solely for access to and use of the Hearth platform and related infrastructure services;is payable in milestone-based installments aligned with platform deployment phases as set forth in the Agreement; anddoes not represent recognized revenue under U.S. generally accepted accounting princi...