Vacation home and hotel operator NOT A HOTEL (Shibuya, Tokyo) has announced that it will issue a crypto asset (virtual currency) NOT A HOTEL COIN (NAC). The company aims to raise 2 billion yen, the largest amount of virtual currency financing in Japan. The funds will be used to purchase and develop real estate. The company's wholly-owned subsidiary, NOT A HOTEL DAO, will issue virtual currencies and raise funds through the IEO (Initial Exchange Offering) mechanism, and will begin accepting IEO applications on the leading exchange operator, GMO Coin, on March 31. The minimum purchase is 10 NACs.