Australian Developer Niecon to Tokenise Real Estate Into NFTs - Rental Income up for Grabs

December 31, 2022
Share this Post: 

Niecon, one of the oldest real estate developers in Australia, will tokenise multiple luxury villas worth an approximate A$3m in January 2023.

The properties will be fractionalised, tokenised, and sold off for as little as A$10 a piece in a new strategic partnership with NFT specialist All Set.

Niecon will mint circa 10k NFTs for each villa, with All Set users able to buy a fraction of the properties using their crypto wallets. There will be no upper limit on how many NFTs users can claim.

NFT holders will be able to claim income from rent proportionate to their interest in each unit.

Buyers will be able to sell them or trade their NFTs at anytime without any permissions or approvals. Users can buy an entire villa in NFT form if they choose.

A statement from Niecon said:

"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."

December 31, 2022
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Onthemarket Debt
OnTheMarket To Be Sold? US Investor Pens Open Letter to Shareholders Outlining His Vision

This one is already a nominee for "most unexpected headline of 2023" at Online Marketplaces. A US investor by the...

Read More
General Atlantic
General Atlantic Nets $220m as it Divests from Swedish Portal Hemnet

The private equity firm General Atlantic has divested from Hemnet according to a press release issued by the Swedish portal...

Read More
Streeteasy Skyline
StreetEasy to Introduce Tools to Capture Seller Leads for Agents

StreetEasy is set to launch a trio of products that the Zillow-owned portal says will capture the highly lucrative seller...

Read More
Homely Financial Results
Homely Officially Becomes Australia's #3 Portal

Industry-owned portal Homely has revealed that it became Australia's number three portal for the first time in 2022, based on...

Read More

Editor's Pick