A notable Australian real estate team is conducting a luxury home auction that can be bought with two cryptocurrencies. There will be a live auctioneer who will take on bids in BTC. The home owner says he wants to keep as many coins as possible.
Live Auction for Cryptocurrencies
One of Australia's leading real estate groups, LJ Hooker, is readying a live luxury real estate auction for cryptocurrencies with a live auctioneer. The company is working with James Pratt Auctions and blockchain company Nuyen, which in turn will help with online bidding for the five-bedroom property in New South Wales, Australia. Micky media outlet reported Monday:
The auctioneer will call bids in cryptocurrency, with the price to be converted and displayed in AUD and USD on a live screen. Payments can be made in both bitcoin (BTC) and binance coin (BNB).
The property owner and president of Nuyen, Greg Costello, told news.Bitcoin.com that, as well as the two cryptocurrencies, AUD will also be gladly accepted.
According to Nuyen, the auction has attracted interested buyers from the U.S., Canada, China, and Australia, the publication detailed. Costello was quoted as saying: “We have already had parties register for the auction in less than 5 days of it being released … There has been a lot of international interest and publicity and I expect to see this grow and grow as the auction gets closer.”
In addition, he told the news outlet that he has no doubt there will be more live auctions for cryptocurrencies down the road considering that international bidders can comfortably participate, elaborating:
All signs point to a borderless system where digital assets are traded for real assets.
Founded in 1928, LJ Hooker claims to be “Australia's best-known and most depended on real estate brand.” With office spaces in Australia, New Zealand, China, Indonesia, Papua New Guinea and Vanuatu, the group claims to manage the most extensive property portfolio in the region of around 160,000 properties worth $100 billion Australian dollars (~$71 billion).
The public auction will occur on April 8. There will be a live auctioneer on the premises, which is located on the coast about 60 miles south of Brisbane. Nuyen Vice President Ryan Lee explained the post-auction process:
Once the sale has been completed, Nuyen’s internal and secure exchange will then be responsible for facilitating the liquidation of the coins themselves and of course releasing them back to the market.
Costello, being a strong crypto believer, intends to try to keep as much of the BTC and BNB as he can, Micky shared. Even so, he detailed that “Some of the coins will have to be liquidated to release the mortgage but the rest will be held tight for future gains.”
What do you think of this live auction for BTC and BNB? Let us know in the comments section below.
Images courtesy of Shutterstock, LJ Hooker, and Greg Costello.
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