Australia-based real estate developers Niecon has partnered with NFT Real Estate Platform All Set by Xillion to tokenize, fractionalize and sell several luxury villas worth over $3 million in small pieces starting at $10 per piece.
Established in 1969, Niecon is one of the oldest real estate developers in the country. The company has built 22 real estate projects worth $2.08 billion including the $850 million property The Oracle.
Sometime this month, several luxury villas located in one of the most popular holiday destinations in Australia (Gold Coast, Queensland) will be sold on the All Set website as NFTs. The total price of the villas exceeds $3,000,000.
Niecon and All Set will tokenize each of the villas by minting 10,000-plus NFTs for each of the villas. The sale will be conducted on the All Set website. Users will need to use their wallets to buy NFTs. Every user will be able to buy as many NFTs as they want. After users have purchased an NFT, they will be able to sell them or trade them anytime without any permissions or approvals. Additionally, all NFT holders will be able to receive an income from rent. Every user can buy the properties in whole as well, by purchasing the entire NFTs collection.
” We believe that combining real estate and blockchain is a great opportunity to modernize the industry,” Niecon said in the announcement. “The new generation of real estate buyers differs from the ones that came before. We believe that to serve them adequately, we must continue integrating mindful and relevant innovations in the Niecon ecosystem.”
