Altair: Wildest Assets Idea [ low key partnership proposal ] xD

Ah, the past few weeks have been so busy that I can’t believe this competition had slipped through my fingertips. Luckily there is still a few hours to enter :D.

One part of UN-LUX, a creative collective, would be:

**Fractionalising Real Estate **

There are approximately 600,000 empty properties in the UK, out of which 2 % are in London [ note: probably higher due to the Coronavirus pandemic ]. In order to solve this problem, our proposal is to fractionalise ownership of property into NFTs so that multiple owners can obtain part of the asset. Depending on the property owners’ budget, UN-LUX could 3D scan the property and upload it to the metaverse, thus enabling a clear view to everyone in the world of the property itself, which would ultimately attract further international buyers and/or investors.

**Repurposing Real Estate **

Let’s say the estate has been fractionalised into NFTs and all of them have been snatched, but the owners wish to capitalise on it without selling.

Maybe they have plenty of assets already and they wish to do something “good” or “charitable” with the property.

The building does not fit the current market and its interiors could look better, maybe the area and local community could benefit from this building if it was used in a different manner [ it has been proven that local communities suffer if their is an abundance of empty properties in the area ].

The procedure [ you could even say that the parties involved become a DAO ]:

1. Property owners vote if they wish to repurpose the building. If the vote passes, they decide on a budget.

2. UN-LUX suggests ways for the building to be repurposed within the budget

3. If the property is rented, commercialised or used for events, workshops, galleries, activities etc, the properties’ price increases, if it is used for events its popularity increases, thus increasing the chances of resales. If there are art sales within the space - owners get cuts. If there are events - owners get cuts. Plenty of revenues streams to consider.

The same procedure would apply in case of a charitable cause, except that budgets would be allocated for educating unprivileged youth or similar purposes.

So that’s it! Hope the Altair team enjoyed the suggestion! This might be an idea for now, but we are determined to make it a reality.

We got a deck, it still needs some numbers added, but it is a good breakdown of what we aim to do. If you have any questions or would like to speak further, feel free to email: [email protected]