Integrated Projects first sells NFT of New York City Office Building to owner-developer
44W37
Developer, Azul NYC, purchased the first-ever NFT at 44 West 37th Street. 44W37 aims to monetize and authenticate ownership of the building’s digital assets
– Jose Cruz
NEW YORK, NEW YORK, USA, September 12, 2022 /EINPresswire.com/ — Integrated Projects First Sells NFT in New York City Office Building to Owner-Developer
44W37 aims to monetize and authenticate ownership of the building’s digital assets
Developer, Azul NYC, purchased the first-ever non-fungible token (NFT) for a New York City high-rise at 44 West 37th Street – a 16-story, 50,000-square-foot office building.
According to public sales records on NFT marketplace Opensea, “44W37” was purchased for 1 ETH – with another “substantial, undisclosed sum” invested in creating the digital building assets unlocked by NFT.
44W37, created by spatial intelligence company Integrated Projects, acts as an immutable digital resource minted on the Ethereum blockchain.
As owners of 44W37, Azul NYC has privileged access and rights to the collection of digital building files unlocked by NFT. These unlocked files are visible, shared and can be rented out to the building’s tenants via Integrated Projects’ platform, IPx. Within the platform, tenants have the ability to view, share and use 3D scans, plans, virtual tours and location reports for their rented space.
Collectively, these unlocked assets save tenants the time, expense and coordination involved in reproducing the exact existing conditions in their physical space, by painting a survey-quality picture of the building’s physical characteristics – architectural, equipment and mechanical.
“NFTs are not new. 3D scanning of buildings is not new,” says Jose Cruz Jr, founder of Integrated Projects, “…what is new is the merging of these technologies with blockchain tools, which enable building owners to create, own, trade and monetize their digital assets – just as we do with our physical assets.”
“The digital transformation of commercial real estate is going to fundamentally change how we design, build, operate and monetize our spaces,” says Jack Ezon, principal at Azul NYC, “this is still day one.”
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About Azul NYC:
Azul NYC is a real estate development firm and owners of 44 West 37th Street, a 16-story office building in Midtown Manhattan.
www.44w37.com
About integrated projects:
Integrated Projects is a spatial intelligence company with a focus on digital transformation of the built environment. IP’s services enable owners, operators and real estate agents to accurately view, verify and quantify their buildings.
www.integrated-projects.com/bimint
General inquiry: [email protected]
44W37 press release
44W37 at Opensea
Jose Cruz
Integrated projects
+1 646-685-3578
[email protected]
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