LOOK: The first-ever NFT property art collection is now on sale
Presenting the Oxo Property collection
History has been made as Bali-based property developer and management service provider Oxo Living becomes the first group to create and launch its own property NFT (non-fungible token) art collection.
For their first offering, the Oxo Property Collection features 24 hand-designed and programmatically generated works of art which are created, stored, and traded on the Ethereum blockchain. Known as the Oxo Artwall, each piece in the collection is designed as a visual expression of every property the group has built since the creation of contemporary villas in Bali back in 2015.
“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,” shared Johannes Weissenbaeck, property developer at 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.”
With this, only one NFT per property gets created, making a truly unique and rare art collection. Buyers of Oxo properties are said to have the first right of refusal to purchase the NFT for their respective property.
Public sale for the Oxo Property collection is now available on OpenSea, which is a NFT marketplace. “Upon purchase, each owner receives the actual NFT and a high resolution source file, which can be used to create a physical copy of the digital original. If an NFT owner wishes to have a physical copy made for them, OXO Living works with Bali’s local businesses and craftsmen to create a print or handmade copy of the work,” detailed Oxo Living.
Each artwork is priced at 1 Ethereum, which is equivalent to $3,241 as of writing.
