The OXO Property Collection by Bali-based boutique property developer OXO Living creates a unique Digital Artwork for each of their properties
Contemporary Bali based property developer and management services provider, OXO Living, has made history by becoming the first to create and launch its own property NFT (non-fungible token) artwork collection. The series of artwork is designed to immortalise each of the 24 stylish properties in the portfolio with unique visual representations on the blockchain.
The OXO Property NFT Collection features 24 hand-designed and programmatically generated works of art, which are ‘minted’ (or created), stored and traded on the Etherium Blockchain. The project is known as the OXO Artwall.
Each piece is designed as an abstract visual expression of every OXO property built since the company began creating its collection of cool townhouses and one-of-a-kind contemporary chic villas in Bali in 2015. Each property is designed to cater to the digital nomad lifestyles of a new breed of savvy entrepreneurs and lifestyle enthusiasts who have chosen to live and operate their businesses remotely from Bali.
“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, a former advertising entrepreneur turned property developer who conceived, founded 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.”
The works are unique representations of each of the properties in the company’s Bali developments OXO Townhouses Umalas, OXO Townhouses Berawa, Chameleon by OXO, Wonderland by OXO as well as their pleasure yacht Splendour.
Only one NFT per property gets minted, creating a truly unique and rare art collection. Buyers of OXO Properties have the first right of refusal to purchase the NFT for their respective property.
But anyone who has a crypto wallet and access to the internet can purchase and trade OXO Artwall NFTs.
The OXO Property Collection launches for public sale for the first time today (15 February 2022) on OpenSea – the world’s largest 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.
The initial offering of each artwork is priced at 1 Ethereum, which is equivalent to USD3,241 at press time.
