LEADING PROPERTY FIRM ANNOUNCES SALE OF PLOT OF LAND VIA NFT - A UK FIRST
NFT Bidding Now Open!
The prime beach-front plot on the south coast of England is now listed on the blockchain for the equivalent of $1.25m in cryptocurrency.
Leading property consultants West London City Lets has launched its new sub-agency Tokenized Properties to facilitate the sale of a real-world plot of land using a Non-Fungible Token (NFT) for the transaction. This will be the first UK property company to support the sale of physical land through an NFT. It will also be the first time this style of property sale has taken place in the UK.
Idris Anjary, founder of West London City Lets, comments, “NFTs being paired with physical assets is becoming increasingly popular within the crypto-sphere. We truly believe that this is the future of property transactions and are delighted to be embarking on this as our next adventure.”
The Web 3
Future of Real Estate
Online Panel Event
Watch out online event for more info on the land sale
Smart Contracts for Smart Investors
Unlike other NFTs which fluctuate in costs with the crypto market, our NFT allows for stability as the land is a high-value physical asset.
Tokenized Properties has partnered with tech firm Mattereum, NFT agency Mint Collective and a team of investors to facilitate the first sale, a prime beach-front plot on the south coast of England which will be listed for the equivalent of £1.25m available to buy in cryptocurrency. Selling the land as an NFT will eliminate the bureaucracy involved in standard property transactions.
Our Partners
The relevant data for the high-value property will be stored securely using the Mattereum Asset Passport and held on an immutable public storage platform. The Mattereum Asset Passport bundles together legal rights and guarantees and is paired with Mattereum's smart contracts. This will not only enable the required searches, title deed and reference media for due diligence to be displayed accurately and transparently, but it will also streamline the purchasing process and increase buyer confidence as to the authenticity and value of the property.
Mattereum Asset Passport
This is an innovative, transfer mechanism that allows investors to trade an NFT with a physical high-value utility. The NFT will be minted on September 26th at an online auction. Anyone who wishes to bid on the sale will be vetted and must complete the register form beforehand.
Investors will be able to trade the NFT as many times as they wish, for 5 years. However, should the owner of the NFT want to legally take possession of the land, they will have the option to transfer the legal rights with a token purchase of £1.
The NFT Sale
DISCLAIMER: The land is sold as is without any planning permission. Images are for reference only for possible uses. Buyers are to make their own investigations and due diligence.
DISCLAIMER: The land is sold without any planning permission. Images are for reference only for possible uses. Buyers are to make their own investigations and due diligence.
DISCLAIMER: The land is sold without any planning permission. Images are for reference only for possible uses. Buyers are to make their own investigations and due diligence.
“Real estate is the biggest asset class in the world, and one of the most stable, particularly in geographically diverse portfolios. But the transaction costs are extraordinarily high, both in terms of diligence on the buildings and the mechanics of legal transfer of title. Innovation in the space to make buying and selling real estate cheaper and easier is going to liberate a lot of dormant potential in the sector. We’re very happy to be working with West London City Lets to show the world what is possible!”
— Mattereum founder and CEO Vinay Gupta
DEVELOPMENT OPPORTUNITY ON THE COAST OF LYMINGTON, HAMPSHIRE
The purchase includes a sea-facing plot of land in Milford-on-Sea in Lymington, Hampshire. The land has an approximate span of 120mx22m, a 380m perimeter and an approximate area of 2680sqm. Situated on the edge of New Forest District Council, with stunning views of the Isle of Wight, Milford has always been a sought-after area with a thriving creative community.
The NFT will represent the land and the contract. It will not be connected to any planning application. The plot has never been individually sold and therefore no planning permissions have been sought. This gives future buyers the opportunity to create their own vision. 3D designs to develop the site into an art gallery, multiple artist studio pods or a high-end café have been created to provide inspiration to investors.
What happens if the value of the NFT goes down but the property value goes up?
The NFT value is controlled by the holder by way of accepting a bid. The asset property value is not directly linked to the NFT value. However, the land asset value does not depreciate. Property trend has shown that even in a recession property prices still go up in value. This is the beauty of our particular NFT sale. Whoever wishes to re-sell the NFT will simply bump up the price to reflect the asset value.
How to buy / Mint
To be able to buy the land or ‘Mint’ the NFT. There are 6 important steps.
Step 1 - ‘Register to buy’ button below. Fill in your full name, email, phone number and wallet address.
Step 2 - You will then receive a confirmation email and we’ll send you a link to the NFT sale.
Step 3 - You make an offer on the NFT via the marketplace. A minimum asking price is required.
Step 4 - If your bid is accepted you will then go through a KYC process and be asked to provide;
Current country of residence and how long at the current address
Photo ID (to include passport or driving license)
Proof of address (utility bill and bank statement) – less than 3 months old
Proof of funds in the form of bank statements going back 6 months
If funds were only made available within that time, we require evidence of how assets were acquired (such as sale of property or chattels and proof of sale including contract/receipt)
*Please note that anyone wishing to buy the NFT on the secondary market will also have to go through the same KYC proof-of-identity process.
Step 5 - You receive the NFT into your wallet with ownership of the Mattereum Asset Passport
Step 6 - Investors will be able to trade the NFT as many times as they wish for up to 5 years. However, should the owner of the NFT want to legally take possession of the land, they will have the option to transfer the property with a token purchase of £1 at any time. After 5 years whoever holds the NFT at that time will automatically take legal possession of the land.
WARNING: Please be very wary of scammers, we DO NOT have a Discord and we will ONLY email you if you have gone through the Whitelist process.
DISCLAIMER: The land is sold as is without any planning permission. Images are for reference only for possible uses. Buyers are to make their own investigations and due diligence.