And it was supposed to be so beautiful! “Epic Flip” by Rafał Zaorski could have brought the approach to investing in real estate to a new level in our country. However, it ended… as always.
“Epic Flip” could have been a breakthrough
Rafał Zaorski’s “Epic Flip” could have been something really interesting. In practice, it was about tokenizing a luxury apartment at ul. Złota 44. But the neighbors got in the way, and then the court. They no longer liked the fact that the most famous Polish speculator was inviting large numbers of guests to the premises. Tokenization – i.e. the division of ownership rights to the apartment – was the last straw.
I would like to inform you – the audience and participants of the “Epic Flip” that I have decided to finally end the experiment on July 8, 2024.
– Zaorski now wrote on X.
As he added, everything fell apart “due to reasons completely beyond his control.”
All people who took part are refunded
– he wrote.
Then he started explaining how the withdrawal process works. It turns out that the most loyal investors will receive a bonus:
- people who applied for a refund the earliest had their funds gradually returned earlier in accordance with the dates of incoming applications,
- people who have recently requested a refund and have not yet been served (before July 8, 2024), their refunds will be processed in the coming days,
- I decided to reward people who declared that they would stay in the project and have not withdrawn from participating to this day, who took the risk and trusted the idea with a BONUS – 44% per year, which gives a total of 22% bonus for about half a year of the epic flip – which I will pay out together with the refund of the contract amount.
He further promised that “no one will be left out (including the artistic ideas and competitions that I announced)”.
(…) please send me a direct DM on Instagram to verify your participation in the contest and possible winnings. I won’t leave anyone out
– we read.
What will Zaorski do now?
Zaorski himself now intends to focus on BigShortBets and investment activities (another famous short?).
There is a lot of volatility in the market and a big chance to multiply capital
– added.
The project itself is worth a thorough analysis by lawyers. Potential successors to Zaorski (I don’t think the idea of tokenizing real estate in Poland has failed) need to check what failed and what could have been done better.
