Real estate in the form of NFTs will start selling on the Bahamas island

Those wishing to buy a villa on the Great Exuma Island must pay $10 000 to get on the waiting list

22.10.2022 - 09:45

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2 min

What’s new? AGIA International has announced the sale of 60 luxury villas in the form of non-fungible tokens (NFTs) issued on the Ethereum blockchain. Real estate will be built on the Bahamian island of Great Exuma. It is noted that this method of sale will simplify the deal and consolidation of ownership, and buyers will also receive residency and access to the Bahamas’ offshore banking system. The press release called the project “a 100% tokenized resort-style community.”

Press Release

What is known about the project? The buildings range in size from 1000 to 6500 square feet. Those wishing to buy a villa on the island must pay $10 000 to get on the waiting list. Homes will be priced between $1,5 million and $5 million.

Erik Sanderson, the co-founder of AGIA International, noted that the construction will create more than 150 jobs, and the operation of real estate is expected to create 125 long-term service and entrepreneurial jobs. He added:

“When the public buys one of the 60 homes here via their crypto wallets, they’re not only buying into a wealth of oceanfront experiences, they’re also bringing economic vitality to the Bahamas. We are committed to growing the local economy and creating sustainable jobs.”

Previously, Roofstock, a real estate company, sold a house in South Carolina as a non-fungible token for $175 000. Buyer Adam Slipakoff noted that he was able to buy “a full title-insured, rent-ready property with one click.” The purchase itself was paid for with USD Coin (USDC) stablecoins through the Roofstock onChain platform.

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