Multi-Billion Dollar Real Estate Developer to Tokenize Over $3MM Worth of Real Estate

One of the oldest Multi-Billion Dollar Australian-based real estate developers, Niecon, has partnered with NFT Real Estate Platform All Set by Xillion (XIL). They will tokenize, fractionalize, and sell several luxury villas worth over $3MM in small pieces starting at $10 per piece.

Niecon is one of the oldest real estate developers in the country (est. 1969). The company has built 22 real estate projects worth $2.08B, including a spectacular $850MM project, The Oracle.

To make this project happen, Niecon has established a strategic partner of real estate with investment platform All Set – by Xillion (XIL), which specializes in tokenizing real estate.

Approximately in January 2023, 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.

1. Niecon and All Set will tokenize each of the villas by minting 10,000+ NFTs for each of the villas.
2. The sale will be conducted on the All Set website. Users will need to use their wallets to buy NFTs.
3. Every user will be able to buy as many NFTs as they want.
4. After users have purchased an NFT, they will be able to sell them or trade them anytime without any permissions or approvals.
5. Additionally, all NFT holders will be able to receive an income from rent.
6. Every user can buy the properties in whole as well, by purchasing the entire NFTs collection.

“In our endeavour to continuously grow and improve, we are excited to work alongside All Set by Xillion (XIL). We believe that combining real estate and blockchain is a great opportunity to modernize the industry. 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.”

All Set is a real estate investment platform founded by Web3 PE / Incubator Xillion.One (XIL) – building a blockchain-empowered combination of Zillow, AirBnB, and Robinhood for Real Estate in one very easy-to-use platform.

Original link: Block3Wire