Tokenizing A Mega-Mansion In Los Angeles

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(Edited)

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The developer of a mega-mansion, one that defaulted on $165 million, wants to tokenize the property. By doing this the funds can be raised to get the property clear of the default while also spreading ownership among many different people.

In this video I discuss how we are looking at a new way to deal wtih real estate. Unfortunately, we are going to see the SEC and other regulators botch it up. However, seeing the idea presented means that people are thinking in this direction.

Here is the article mentioned in the video:

https://decrypt.co/90023/nike-niami-developer-the-one-coin-california-mega-mansion-tokenize-house


▶️ 3Speak



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Mansion tokenized and pegged with real crypto token with real use case i view it as real physical use case of crypto this a good initiative.

I guess the SEC don't go around screwing things up this is probably what they are good at regulating every bit of blockchain investment property.

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The SEC will only allow this to happen through the Wall Street institutions. They are clear in their view, these are securities.

That is why we need to keep developing thousands (if not millions) of projects that are under the radar yet get expand over time.

We can overwhelm them with numbers.

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Time sharing project?

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I dont think it is a time share. It appears the idea is to rent it out for different events. This could be used as a movie location, for example.

Tokenized time share is an interesting idea. Never thought about that one.

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I'm telling you, in a few years this will be the norm, no more home titles that can be lost or damaged, the future is digital and it's better to get used to it.

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I agree that, ultimately, real estate and blockchain will become one. They are made for each other. That said, I am not sure how long it will take. The government can really draw things out.

Nevertheless, we keep plugging along until we get to the point where we overwhelm the existing system. That is what our goal should be.

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I like the sound of this. In the Uk, housing is very expensive, but people feel its important to have ownership of where they live. I think its probably good for your sense of security, even if you only part own the house, or have some shares in it. Tokenisation would be a cool way to buy your house a bit at a time whenever you feel like you have the money, or when the share prices dip, or when another shareholder wants to sell out quickly at a reduced price. You could even ask for friends and family to buy you more shares of your house. Not to mention the fact that you could sell a few shares here and there when you need a holiday or whatever. I think the only problems might occur if you have to reach concensus with a bunch of strangers about what colour to paint the walls or where to have your bathroom installed. hehe

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For mega projects, tokenization is actually a great step forward. It helps the projects to raise large sums of money. At the same time, people can get involved in things with returns they normally would be exempt from.

After all, how many of us had a piece of a downtown office building? Historically, they were very profitable (that might be different in the future). With tokenization, we all could get involved via fractional ownership if the government allowed it.

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Interesting news! This one makes me smile. Just curious what would be its implications on decentralized tokens just in case the SEC would really consider the tokenization of real property as security?

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The implications are that the offering would have to be brought out through the approved channels, most likely a Wall Street institutions. Also, there is a good chance it will only be open to "accredited investors".

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The guy said any "real, real individual" can contact him. Just curious what does he mean by that? I thought that this could be the start of "decentralized" tokens out there to be counted also as security in SEC's eyes.

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