House of Hiranandani becomes India's first real estate developer to launch NFTs

House of Hiranandani becomes India's first real estate developer to launch NFTs
House of Hiranandani, India’s premium real estate developer, has announced its foray into the Non-Fungible Token (NFT) segment, becoming the first real estate developer in the country to jump on the NFT and Web3 bandwagon. The brand’s maiden NFT series titled ‘DreamVerse’- Engineering Your Dreams is a limited edition of bespoke NFTs that enables NFT owners to gain access to exclusive design consultation with some of India’s leading design and staging experts who work with House of Hiranandani.

The NFT collection has been launched with an aim to pay an ode to engineers and architects who, over four decades, have helped create urban landscapes of the House of Hiranandani and transformed dreams into reality for aspiring home buyers. Through its thoughtful construction, it has transformed land parcels into buzzing community spaces and offered elevated lifestyles for its residents.

House of Hiranandani becomes India's first real estate developer to launch NFTs
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.

Commenting on the NFT collection, Prashin Jhobalia, Vice President — Marketing Strategy at House of Hiranandani, said, “House of Hiranandani has a long history of firsts, with our properties becoming landmarks of the region. The brand has maintained the trust of its customers by delivering best-in-class architecture and designs. With this move, the House of Hiranandani has yet again established itself as a leader in technological adoption and innovation in real estate. On account of Engineers Day, creating NFTs “Engineering Your Dreams” concept is a tribute to all the engineers and to motivate young minds with research-based real estate creations. Our intention is to make them self-sufficient and masters in their trade.”

The real estate company will also provide home furnishing vouchers as an encouragement to begin designing one's residence. The collection can be found on KoineArth's ngageN platform, an NFT platform for brands and creators and has partnered with Polygon, a globally leading platform for Ethereum scaling and infrastructure development.

In May 2022, global NFT sales stood at ~USD 3 billion and India stands strong as one of the top five most active countries in the NFT segment with over 1.50 million NFT users in the country. Web3 and Metaverse offer enormous potential to address important real estate concerns and the industry is likely to see massive innovation in the usage of emerging technologies to fuel growth in the space.

House of Hiranandani has transformed the real estate skyline of Mumbai, Bengaluru, Chennai, and Hyderabad with its signature-styled neighborhoods that offer a holistic living experience to residents. HOH invests heavily in research and development to ensure that its developments surpass industry benchmarks and redefine engineering and design, and create value for all stakeholders at every step of development.