A Florida NFT is for sale, and a decentralised organisation wants a Bel Air megamansion

According to Propy, a California-based real estate technology company, a four-bedroom home in Gulfport, Florida, will be tokenized and sold for $650,000 using non-fungible token (NFT) technology. In addition to the Gulfport residence, another blockchain project has been launched with the goal of purchasing The One Bel Air 105,000-square-foot megamansion through the formation of a decentralised autonomous organisation (DAO).

Gulfport, Florida, home to be tokenized and sold for $650,000

According to the homeowner, Leslie Alessandra, a home in Gulfport will be auctioned as an NFT on February 8, 2022. According to the current owner, it will be the first real-estate auction in the United States to auction a home in NFT form. Alessandra is collaborating with Propy, a Palo Alto-based company that used tokenization to sell Michael Arrington’s Kiev apartment. The apartment of Techcrunch founder Michael Arrington was originally sold in 2017 in one of the first blockchain real estate transactions.

“I’m very excited to have purchased the first real-estate NFT from Michael Arrington with Propy,” the current homeowner who purchased Arrington’s apartment at the time told the press.

In the case of Alessandra in Florida, she is the founder of a Tampa Bay blockchain startup and a real estate investor. Alessandra insisted that the NFT allows the owners to sell the house in the same amount of time as a Venmo transfer. The NFT will also feature a mural created by local artist Derek Donnelly, also known as ‘Saint Paint,’ according to the report.

An Attempt by a DAO to Tokenize The One Bel Air

Aside from Alessandra’s Gulfport home, another project called the One DAO intends to use a decentralised autonomous organisation (DAO) to purchase the infamous The One Bel Air home. Nile Niami, a real estate developer, and renowned architect Paul McClean collaborated on the Los Angeles residence. The property’s owner, Niami’s firm Crestlloyd, defaulted on debt in March 2021, and the 3.8-acre property is now being auctioned off. The One DAO wishes to acquire the well-known residential neighbourhood home on Los Angeles’ Westside. The ultimate goal of the DAO is for it to be owned by “a collective of anonymous people.”

According to the project’s roadmap, if the One DAO wins the auction, the home will offer DAO members the opportunity to stay at the megamansion. “As a DAO member, you will be able to enjoy and stay in The One megamansion,” according to the website. “The One can accommodate 15,330 DAO members per year with 21 bedrooms and 2 people per bedroom.” The One DAO claims that it will offer public tours and host crypto events throughout the year.

The One DAO, like other decentralised crypto organisations, will have a governance system that will allow community members to vote on specific requests and issues. “Because the DAO is a fully decentralised organisation, any member of the DAO has the opportunity to put any proposal to a vote,” according to the website.

While the Gulfport home in Florida costs only $650,000, The One Bel Air has a much higher starting price of $295 million. The home in Florida has four bedrooms and two and a half bathrooms. The One DAO is interested in a California megamansion with a bowling alley, nightclub, theatre, running track, and a moat.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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