Bali-based Property Developer OXO Living Releases NFT collection

Last February, a Bali-based property developer and management services provider, OXO Living, launched its property NFT collection. The series aims to immortalize the 24 properties in the company’s portfolio with unique visual representations in the blockchain.

The collection was labeled the OXO Artwall, and it features 24 hand-designed, programmatically generated artworks that were minted, stored, and traded on the Ethereum blockchain. The artworks are abstract visual expressions of every OXO property built since the company first created its catalog of townhouses and one-of-a-kind villas last 2015. According to the company, these properties cater to the digital nomad lifestyle of new entrepreneurs who wish to live and operate in the Indonesian province.

“The algorithm used to digitally generate each artwork 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,’’ says Johannes Weissenbaeck, advertising entrepreneur-turned-property developer who conceived and runs OXO Living.

“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.”

These tokens are representations of several properties in the company’s Bali developments. The properties include the OXO Townhouses Umalas, OXO Townhouses Berawa, Chameleon by OXO, Wonderland by OXO, and the yacht Splendour.

The collection is currently for sale on the OpenSea marketplace. After a transaction, the buyer will receive the NFT and a high-resolution source file that can be used to make a physical copy. The initial offering for each token is 1 ETH or roughly $2,611.98.

Source: Manila Bulletin