HOW PHAETON USES NFTs TO FUND ITS KEY PROJECT

  1. First, there is a requirement for legal preparation for the sale of a property as an NFT or a development proposal requiring equity capital for the total development cost.
  2. The proposal is submitted to Phaeton’s Real Estate Marketplace Platform for approval by Phaeton’s investment committee.
  3. If approved, the NFTs are “minted” — that includes descriptive and legal data about the property, including paperwork, disclosures, reports, image files, and even videos. The NFT is proof of ownership. Legally, whoever has possession of the NFT, owns part of the property through an ownership vehicle.
  4. That NFT, which resides on a distributed ledger, can be placed for sale in an existing NFT marketplace.
  5. Potential buyers and investors bid or buy the minted NFTs. Successful buyers pay for the NFT in fiat or cryptocurrency via a custodian type smart contract designed to perform escrow duties.
  6. After funds are released to the seller or developer within a limited window, the NFT is transferred to a wallet controlled by the buyer entity. Finally, the buyer entity completes paperwork to finalise the legal ownership transfer.
  • A medical centre plus a NDIS (National Disability Insurance Scheme) Hub
  • A social enterprise coffee shop to train and provide work for people with disabilities.
  • 10 NDIS Accommodation apartments
  • 22 Affordable co-living apartments

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