Niecon, an Australian real estate developer founded in 1969 in Broadbeach, has revealed its plan to turn villas into non-fungible tokens (NFTs).
The company has teamed with All Set, an NFT real estate platform, to tokenize, fractionalize, and sell several villas at bite-sized prices, making the investment accessible to everyone.
The total value of the luxury villas, which are located in one of Australia’s most popular tourist locations (Gold Coast, Queensland), will be divided into many portions – about 10,000 NFTs per villa, each with a value as low as $10.
The villa NFTs will be available on the All Set website beginning around January 2023.
Buyers will be able to buy the NFTs singularly or in bulk using a wallet, and then will be able to hold, sell, and trade their NFTs while also earning a portion of the rent.
As technology advances and generations shift, new, more inexpensive investing opportunities arise. In this regard, combining blockchain and real estate appears to be an excellent method for meeting the demands and preferences of the next generation.
This is not the first attempt to bring together real estate with NFTs or the metaverse. Verse Estate, an eco-friendly metaverse agency, declared ambitions to create luxurious digital properties linked to NFTs in July, while the DAMAC Group announced plans to join the metaverse with virtual homes in April.