Recently in my Discord Channel we've been talking about buying an Island. Leave the Covid Regulations and City life behind and start a nice little community on the beach. The Pulse of Crypto Discord Stop in and say Hi!
Of course, I can't quite afford the type of Island I'd like, and I don't want a rock in Canada.. So crowd funding or a group purchase is appealing and while I know this idea isn't a new one, the idea of selling 1 Acre Plots via smart crypto contracts and each acre being represented by an NFT is an fun idea to consider.
For the sake of this idea let's put aside a lot of logistics and just look at it at a high level.
Let's say I purchase this 430 acre island in the Bahamas for
$45 million. Imagine I subdivide and survey the land to sell 430 1-acre lots and list the corresponding NFTs (each with a property description and survey)
Each lot could be priced individually based on attributes like any NFT, such as Beach Front front would be rare, etc.
Some Acres might be part of a Golf Course or Marina, thus holding a different value. You could list the acreage privately or publicly and have a live document of rules or ordinances like a home owners association to manage/govern the Island. When issues arise each NFT owned provides the owner with a vote in any issues, improvements etc.
I've heard about this type of real estate funding and management being tracked on a blockchain since the early days of ETH and Smart Contracts, but to my knowledge it isn't being done yet.
I have myself half talked into seeing how I can figure this out for a less ambitious project maybe a small set of condos.
Anyone know of anyone launching a project like this yet?
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It's a solid idea but maybe a few years before we have island money from hive.
Put me down for a legendary beach front in five years time.
Each nft comes with voting rights, attributes and can be frented on the open market I'm assuming.
Smart contract to let the nft out for periods of the years and get a solid return.
Man, you know what I'd give for island buying money?
haha, I hear ya. The thing is Island buying money costs.. Island buying money and also..
Good to see you!
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Hey maybe our crypto investments will pay off. Probably not mine, sadly but someone's. I always seem to pull out at the wrong time.
That's what he said?
Thanks and likewise. My work schedule is much less hectic these days plus I reintroduced mushrooms into my life and feeling all extra creative lately so I've been around off and on.
lol, well get that creativeness on the chain!
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Just keep in mind that in the next 5 to 10 years rising ocean levels will probably make that resort the underwater, so you drop the 45 million now and be stuck with ocean in the next few years... I would say invest in something more in the mountains next to a lake, we can grow sustainable food, and beautiful mountains to look at and water to go swimming in! ❤️
Sounds Amazing and good feedback!
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It's a solid idea but maybe a few years before we have island money from hive.
Put me down for a legendary beach front in five years time.
Each nft comes with voting rights, attributes and can be frented on the open market I'm assuming.
Smart contract to let the nft out for periods of the years and get a solid return.
Gotcha for that legendary beachfront! lol.
We really need to figure out how to really do this! :)
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You are in Hive. That means you will have a nice island, like Hawaii.
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We all need an Island community I think!
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I've never heard of such a project before, but it's a great idea. It's really interesting when I imagined the project but I like the idea.
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Maybe we will have to build Leo Island! For the Lions!
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That would be absolutely great.
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It's s good question and i thought the answer must surely be yes. I did some searching and couldn't find anything. Many countries have experimented with land registries on a blockchain but no project as you describe that i could find.
I love the idea though. I wonder could you set up cameras on the island so people could see their stretch of beach? Do you remember the whale project by @roelandp, that was fun.
I totally remember the whale! That was fun, we can live stream our Island for some extra income.
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Nice idea but imagine sharing the island with a bunch of Hive nutters lol. I suppose it would be convenient as you can just walk around to your neighbors and slap them instead of downvoting. Who knows where this will lead to in the future as hopefully crypto does pay off big time.
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Bernie moves in next door and paints C*NT on your walls..
LOL. I hear ya.
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Weekend at Bernies will take on a whole new meaning then lol.
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That's a good idea. I would definitely like to be a part of a project like that.
I want a Tiki bar on my acre
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I'll be hanging at the tiki bar drinking, between lounging on the beach.
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In the early days of Steem there was an attempt to buy an island. Steem island. People were very excited. I ,,invested'' 1000 steem.
It went bad and I need to threaten the guy who started to get my money back.
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I must have missed this, I do remember the NateEstate experiment which also didn't work out, but refunds were sent promptly
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Or we just do away with the island bit.
LOL those are cool!
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This idea might work, if land registry system converted to a Blockchain.
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