The One mega mansion in Bel Air has suffered because its owner defaulted on over $165 million in loans and debt.
Its developer now wants to tokenize the property.
If you can’t afford to buy yourself a mega-mansion, how about buying coins that represent a portion of the mansion?
Nile Niami, who spent 10 years developing the 105,000-square-foot urban mega-mansion “The One” in tony Bel Air, Los Angeles, បានប្រកាស in a December 27 video that he aims to save the home from auction by tokenizing it.
The developer has racked up debts from the costly project—labeled the largest and most expensive urban home in the U.S.—and wants to save it from auction by creating a cryptocurrency, The One Coin, that represents shares in the property.