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Cape Town Developer The Spectrum Integrates NFT To Bolster Sales


coinedition.com 11 November 2022 15:39, UTC
Reading time: ~2 m

A new micro-apartment developer by the name ‘The Spectrum’ has integrated an NFT project that is intended to speed up the sales process and help cut out intermediaries like the deeds office. Blockchain start-up Momint has collaborated with the developer to launch the project.

The Spectrum highlighted the key features of the one-of-a-kind NFT project. The NFT will serve as a token that will give the holder the right to purchase a specific apartment. Furthermore, it will also make the property more investible and decreases the middlemen in the transactions.

The Spectrum spokesperson said:

The NFT grants the holder with the right to purchase a specific unit at The Spectrum. Further benefits will also be made available for token holders at a later stage, including token airdrops, exclusive access, discounts, and more.

Additionally, the NFT can be used to avail benefits and used within The Spectrum development upon completion. The sales team at the developer will send the owner a unique NFT for the apartment purchased upon nearly the completion of the site.

The project houses 306 units across 10 floors. It will offer a range of amenities, including a co-working space, an onsite gym, and a coffee lounge, as well as a backup generator to mitigate power outages.

In other news, Momint also partnered with the South African Gold Coin Exchange & The Scoin Shop to tokenize a Complete Denomination Coin Proof set of the old Zuid-Afrikaansche Republiek (ZAR) coinage for the digital era. The collaboration demonstrates how the blockchain is revolutionizing asset ownership.

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