Non-fungible tokens are convenient for people to prove exclusive ownership and authenticity over an object. The way they can uniquely prove ownership by writing data in the blockchain is why their use has expanded beyond just the art world they started.
OXO Living, the property development and management services company, is the first company to launch their NFT collection based on the 24 beautiful properties that they are offering.
The campaign was created to promote the new property launch of the company by taking advantage of the current popularity of NFTs. To make the campaign appealing to potential owners, the NFTs will offer the opportunity for people to get visual representations of the properties on the blockchain.
According to the advertisement campaign for OXO “Artwall” project, each NFT will abstractly represent the foundation behind OXO’s properties.
The company began back in 2015 by offering an attractive collection of townhouses and villas designed to appeal to digital nomads and adventurous entrepreneurs who wanted to continue their business ventures while reconnecting with nature and taking a break from the buzz of the city.
Johannes Weissenbaeck, the property developer who runs OXO Living, claims that “The algorithm used to generate each artwork digitally is based on the location, personality, signature, orientation, volume, interior, and decor of each property, creating a hierarchy of rarity, complexity, visual significance, and value.”
According to Johannes, in recent years, many entrepreneurs have taken an active interest in cryptocurrencies and, more recently, into NFTs. Others managed to get their wealth altogether by relying solely on crypto’s highly volatile but potentially profitable investment opportunities.
No matter their background, crypto enthusiasts just received a project designed explicitly for their taste.
“As a number of our investors and residents are crypto entrepreneurs, we thought that being the first developer to link our properties to NFTs was a perfect fit for our brand,” says Johannes.
The OXO Property collection will be encrypted on the Ethereum blockchain. The non-fungible tokens will be available for trading on the OpenSea platform, the largest NFT marketplace.
The purchase comes with the NFT and a source file, which can be used to make a physical copy if the owner decides to do so.
The current price of each artwork is around 1 Ethereum, with many expectations it to rise in the coming days as the enthusiasm around this unique collection rises.
