House of Hiranandani, an Indian premium real estate developer, has announced its foray into the non-fungible token (NFT) segment. Reportedly, the brand’s maiden NFT series, titled ‘DreamVerse’- Engineering Your Dreams, is a limited edition of NFTs to enable NFT owners gain access to design consultation with some of India’s design and staging experts who work with House of Hiranandani.
As per insights from the developer, the NFT collection has been launched with an aim to pay an ode to engineers and architects who have helped create the platform’s urban landscapes. As part of the campaign, the company would use the NFT sales revenue to establish a fund to assist Bangalore Institute of Technology’s underprivileged engineering students, and will also provide home furnishing vouchers as an encouragement to begin designing one’s ideal residence. The collection can be found on KoineArth’s ngageN platform, a NFT platform for brands and creators, and has partnered with Polygon, a global platform for Ethereum scaling and infrastructure development.
According to Prashin Jhobalia, vice president — marketing strategy, House of Hiranandani, the brand has aimed to maintain the trust of its customers by delivering architecture and designs. “The purpose of this initiative is to illustrate our respect and gratitude toward engineers. Our attempt is to motivate these young minds with research-based real estate creations and encourage them to work in a manner that would make a difference to society. It is our perception that the standard for success is self-sufficiency. Our intention is to make the students and our future engineers self-sufficient and masters in their trade,” he added.
In May, 2022, market reports showed that global NFT sales stood at three billion dollars, and India stands as one of the top five most active countries in the NFT segment with over 1.50 million NFT users in the country. Web3.0 and metaverse carry the potential to address real estate concerns and the industry is expected to see innovation in the usage of emerging technologies to fuel growth in the space.
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