Today, Indonesian lifestyle brand and real estate developer, Finns Bali, announced that they would accept cryptocurrency for selling luxury apartments.
Indonesia is the land of digital nomads. Between coworking space and digital innovations, it’s one of the best places to work remotely while enjoying beaches and sunny weather. Now, digital nomads can buy luxury apartments with cryptocurrency.
Finns Bali is completing the construction of 206 fully-furnished luxury apartments at Finnins Lifestyle Village (FLV). The luxury village will be 1,000 meters from Berawa beach, near Canggu. The eco-friendly luxury apartments are part of Finns’ project to re-launch the local economy. The apartments will include:
- 55 inch 4k UHD Smart TVs
- High-end Modena Appliances
- King Koil bedding and linen
- Premium marble flooring
- Smart home technology
In addition to a luxury lifestyle community, Finns VIP membership includes options for dining, recreation, beach clubs, nightlife, coworking, wellness, kids clubs, and entertainment venues.
UseCryptocurrency To Buy Luxury Apartments
Thanks to this first-of-its-kind project, investors can convert their cryptocurrency holdings into tangible assets on the island. To specify, crypto owners can purchase fully-managed property through secure transactions.
Usually, crypto-holders convert their digital assets into fiat currency. This process leads to third-party fees, additional tax responsibilities, and price fluctuations during the transaction. For this reason, Finns Bali allows a direct transaction to purchase luxury apartments with cryptocurrency. In partnership with Finns Global Ltd, investors can access secure and private transactions. In addition, as mentioned in the press release, Finns Bali will take care of taxes and extra fees during the transactions.
Finally, Finns Bali started another partnership with Ekta. The latter is the first blockchain to tie fractionalized NFTs (F-NFTs) to real estate and properties. It allows you to fractionalize a proprietary into multiple pieces to sell it. After that, Ekta F-NFTs owners can receive a monthly rental income based on the percentage they own. Additionally, you can access discounts on properties with Ekta’s native token (EKTA) for F-NFT transactions.
As Beau Whittington, Chief Strategy Officer at Finns Bali, states: “People around the world looking to reap the rewards of investing early in cryptocurrency are discovering they’re faced with no reliable option to convert their crypto into something they can use. Finns Lifestyle Village will fill that gap. The construction of FLV and our decision to give our customers the ability to convert crypto into offline assets to keep Bali at the forefront of innovation while encouraging responsible investment on the island. By embracing cryptocurrency and offering our buyers the flexibility to simply and securely convert their digital assets, we’re reminding the world that Bali is still the place you go to find freedom and tranquility.