NFT in real estate it may sound a bit far fetched but it has happened.
House of Hiranandani, a real estate developer announced its foray into the Non-Fungible Token (NFT) segment, becoming the first real estate developer in the country to jump on the NFT and Web3 bandwagon. The brand’s maiden NFT series titled ‘DreamVerse’- Engineering Your Dreams is a limited edition of bespoke NFTs that enables NFT owners to gain access to exclusive design consultation with some of India’s leading design and staging experts who work with House of Hiranandani.
The NFT collection has been launched with an aim to pay an ode to engineers and architects who have helped create the unparalleled urban landscapes of the House of Hiranandani. For over four decades, House of Hiranandani with its engineers and architects has transformed dreams into reality for every aspiring home buyer. Through its thoughtful construction, it has transformed land parcels into buzzing community spaces and offered elevated lifestyles for its residents.
As part of the campaign, the company would use the NFT sales revenue to establish a fund to assist Bangalore Institute of Technology’s underprivileged engineering students.
Commenting on the NFT collection, Prashin Jhobalia, Vice President — Marketing Strategy at House of Hiranandani said, “House of Hiranandani has a long history of firsts, with our properties becoming landmarks of the region. The brand has maintained the trust of its customers by delivering best-in-class architecture and designs. With this move, the House of Hiranandani has yet again established itself as a leader in technological adoption and innovation in real estate. On account of Engineers Day, creating NFTs “Engineering Your Dreams” concept is a tribute to all the engineers that help us deliver our vision to the customers. The purpose of this initiative is to illustrate our respect and gratitude toward engineers. Our attempt is to motivate these young minds with research-based real estate creations and encourage them to work in a manner that would make a difference to society. It is our perception that the golden standard for success is self-sufficiency. Our intention is to make the students and our future engineers self-sufficient and masters in their trade.”
The real estate company will also provide home furnishing vouchers as an encouragement to begin designing one’s ideal residence. The collection can be found on KoineArth’s ngageN platform, an NFT platform for brands & creators and has partnered with Polygon, a globally leading platform for Ethereum scaling and infrastructure development.
In May 2022, global NFT sales stood at ~USD 3 billion and India stands strong as one of the top five most active countries in the NFT segment with over 1.50 million NFT users in the country. Web3 and Metaverse offer enormous potential to address important real estate concerns and the industry is likely to see massive innovation in the usage of emerging technologies to fuel growth in the space.
About House of Hiranandani: House of Hiranandani is a pioneer in developing integrated communities that have become landmarks in India. It has transformed the real estate skyline of Mumbai, Bengaluru, Chennai, and Hyderabad with its signature-styled neighborhoods that offer a holistic living experience to residents. Pillared by over four decades of experience and a unique approach to designing and planning, HOH invests heavily in research and development to ensure that its developments surpass industry benchmarks and redefine engineering and design. Today, the brand is synonymous with excellence and strives to create value for all stakeholders at every step of development.
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