Smartlands and UK Sotheby’s International Realty to Experiment With Tokenising Exclusive Luxury Properties
Asset tokenisation on the blockchain remains the number one financial markets trend for 2020 and beyond. With this in mind, Smartlands and UK Sotheby’s International Realty entered an agreement to explore the possibilities of fractional ownership in a luxury real estate market.
The parties will also study the opportunities related to the issuance of digital shares representing ownership rights for luxury real estate properties. The agreement sets forth the principal elements and terms for the collaboration between Smartlands and Sotheby’s with a focus on issuing digital shares and marketing digital shares offerings representing ownership rights for exclusive luxury real estate properties managed by UK Sotheby’s International Realty. “Deals of this level of exclusivity will open a new page in asset tokenisation,” says Katharine Manderfield, Smartlands Executive Director.
Currently, Smartlands and Sotheby’s are working on preparing the offering of tokenised shares in two luxury properties: a penthouse apartment in London and a luxury villa in Greek islands managed by one of the most prominent networks of luxury hotels in the world. Further project details are going to be made public by the end of 2019, at which time the additional criteria for participation will be announced.