First-Ever MetaReal Mansion Under Construction In Both Miami And The Sandbox Metaverse

The first ever MetaReal mansion is currently under construction in both Miami in real life and in the Metaverse and is expected to fetch millions when it goes to auction. Meta Residence, ONE Sotheby’s International Realty and Voxel Architects have aligned to build and sell the first real-world mansion using NFT technology. The luxury mansion is being constructed in Miami with a virtual counterpart coming to life inside of The Sandbox metaverse. The purchaser of the NFT asset will also acquire ownership rights of the physical home.

“We are building a rare lifestyle experience that blurs the lines between the metaverse and reality,” said Gabe Sierra, President of the joint venture. “Never before has a project like this been delivered, and we are proud to offer the buyer of this NFT a once-in-a-lifetime opportunity to own the first MetaReal mansion ever created.”

Located on a 1+ acre within one of Miami’s most sought-after neighborhoods, the 11,000 square-foot home will feature 7 bedrooms and 9 bathrooms. The virtual version will be a mirror image of the property. Michael Martinez with ONE Sotheby’s International Realty is the exclusive sales agent for the project and plans to execute the transaction on the Ethereum blockchain. The metaverse mansion is expected to list for auction in 2022 with a yet to be disclosed reserve price.

“Being able to leverage my expertise to pair a homeowner with real and virtual property is something I never imagined being a part of, it’s exhilarating,” said Martinez, the top agent at ONE Sotheby’s International Realty. “We look forward to finding a buyer for this spectacular property and being involved in a momentous deal in this new era of homeownership.”

The joint venture has also acquired the equivalent of over 40 acres in the metaverse for future projects which may include homes, as well as commercial properties, marketing, and gaming endeavors.

“As a company we push boundaries and constantly evolve with the changing dynamics of the industry—always on the cutting-edge of real estate, art and technology. We believe that the metaverse will play a role in the future of real estate in one way or another,” said Daniel de la Vega, president of ONE Sotheby’s International Realty. “This deal represents a bold move to support our clientele where the real and virtual worlds converge, and we look forward to presenting the property to our unrivaled global network.”

The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain using $SAND, the main utility token of the platform. The Sandbox offers a wide range of exploration across its metaverse, consisting of 166,464 unique pieces of LAND, each belonging to a user. The Sandbox was founded in 2011 and has partnered with 60+ companies to develop content based on their IPs on the platform, including brands like Square Enix, ATARI, The Smurfs, Care Bears, and more.

Jake Paul and Logan Paul Revealed As Purchasers Behind E11EVEN Residences Beyond Penthouses Asking $20.5 Million Each

Jake and Logan Paul have been revealed as the purchasers of two penthouses atop the planned E11EVEN Residences Beyond condo tower in Downtown Miami. Jake Paul and Logan Paul are social media and YouTube personalities who turned into professional boxers. In 2021 Logan Paul faced boxing legend Floyd Mayweather Jr. in an exhibition match. The penthouses are 3 bedroom, 3.5 bathroom residences that are currently asking $20.5 million each. The penthouses include an outdoor kitchen and plunge pool. It was not revealed how much each paid. Other celebrity buyers include WNBA star Candace Parker, ESPN co-host Sage Steele and MMA fighter Luke Rockhold.

E11EVEN Residences Beyond is being developed by E11EVEN Partners and PMG. Rising 65 stories, E11EVEN Residences Beyond offers a highly exclusive, "members only" experience designed to cater to high profile buyers who seek the VIP, entertainment-driven lifestyle of E11EVEN Hotel & Residences and the privacy of a private condominium. Units range from 318-square-foot studios to 993-square-foot two-bedrooms, as well as a presidential collection ranging from 1,167 to 2,762 square feet and penthouses starting at 2,213 square feet, totaling 461 luxury residences.

Designed by Sieger Suarez Architects, E11EVEN Residences Beyond boasts private amenities available only to residents in the tower. They include a helipad, a resort-like sun lounge deck with 93-foot pool, a state-of-the-art fitness center and fully staffed executive office suites. E11EVEN Residences Beyond buyers will also have access to the first tower’s amenities, including the Chopra Spa & Studio, day club, beach club, gourmet food hall, and sports lounge. A private, access-controlled walkway bridge will provide residents direct entry. Owners will also enjoy exclusive access to E11EVEN Residences Beyond Members Social Club.

Starting in the mid $300,000, or the equivalent cryptocurrency rate, all interiors and residences are fully furnished and finished by award-winning design firm AvroKO. Each features custom imported ITALKRAFT millwork and cabinetry, including fully-integrated kitchens and bathrooms with custom countertops and backsplashes and fully built-out closets in the master bedrooms featuring all shelving and drawers pre-installed for absolute convenience. Subzero and Wolf appliances and finishes and flooring selections curated by AvroKO ensure that each residence offers supreme form and function. PMG's smart home technology system will offer unprecedented efficiency through seamless personalization with the touch of a button that includes integrated audio, video and lighting systems.

Penthouse and presidential collection residences feature expansive outdoor terraces with top-level audio systems, towering 8-foot interior doors, upgraded custom ITALKRAFT kitchens with marble countertops and Sub-Zero wine storage, a midnight bar in each master suite, motorized roller shades, and expansive views of the Miami skyline, Biscayne Bay and Atlantic Ocean. Owners of these exclusive units enjoy access to the building through a private lobby entrance.

Taking luxury and style to even greater heights, the penthouses feature fully finished & custom interior layouts to be selected under one-on-one consultation with PMG’s in-house interior architectural design team and include marble flooring throughout the interiors and floor-to-ceiling impact-resistant windows.

PMG Residential is the sales team for the project, led by Raquel Kaufman alongside team members Pablo Rodriguez, Reiner Perez, Adam Freeman, Liza Hernandez and Lauren Negrin.

The first phase of the project comprises 375 turnkey residences. Each unit comes equipped with fully-integrated “smart building” features and 24/11-style amenities, including celebrity-chef dining experiences throughout the property, a casino-style sports lounge, an E11EVEN Members rooftop experience, and a world-class Chopra Spa & Studio wellness center curated by Dr. Deepak Chopra. E11EVEN Hotel & Residences Miami is a lifestyle experience and destination, the first of its kind in the United States. Completion is expected for the first tower in 2023.

E11EVEN Partners is led by Michael Simkins, Marc Roberts, and Dennis DeGori, who own the neighboring E11EVEN Nightclub. PMG is led by Managing Partners Ryan Shear and Kevin Maloney.

E11EVEN Hotel & Residences and E11EVEN Residences Beyond are two of the first pre-construction condos to accept cryptocurrency as a deposit through a first-time-ever real estate partnership with FTX, the world’s leading cryptocurrency exchange.

E11EVEN Hotel & Residences is located at 29 NE 11th Street and E11EVEN Residences Beyond will be located on the same block at 90 NE 11th Street.

For more information about E11EVEN Residences Beyond or E11EVEN Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

Micah Johnson Debut's Aku World For Miami Art Week As Digital NFT Astronaut Enters Physical World In Partnership With FTX US

Aku, the digital explorer and crypto-native NFT IP created by artist and former MLB player Micah Johnson, will come to life for the first time since its inception with Aku World: Miami presented by FTX US from December 2-4, 2021 in the vibrant Wynwood Arts District. Aku World: Miami will be Aku's first introduction to the physical world, bringing friends and collaborators across art, music, fashion and technology together in one space. The visually-stunning, multilayered event will showcase the otherworldly dimension of Aku and allow guests to step out of reality and into the metaverse through carefully curated exhibits that blur the lines between NFT technology and IRL experiences.

“Aku World is a world built around dreams. It was imperative to incorporate talented artists and designers who have achieved their dreams into the world and it’s our mission to inspire everyone who walks through the door,” said Micah Johnson, creator of Aku. Through a partnership with leading cryptocurrency exchange FTX US, attendees will be able to sign up for their own crypto wallet, collect NFTs throughout the space via hidden QR codes, and purchase digital artworks by legendary 3D artist, Raf Grassetti, as well as unique Aku digital works. Top-tier ticket holders will have exclusive access to the Minting Room presented by FTX US, where they can create their own 4D-scanned avatar that lives within the Aku universe and mint them into NFTs, which they can later trade, sell or display in their digital wallets.

Attendees can shop on-site via the Merch Room, which will host three days of exclusive merch collaborations with VIP guest collaborators Pusha-T, Jerome LaMaar and Aleali May, with each day dedicated to a single limited time, limited edition collection, available for pre-order at the event and online.

Aku’s Collection, curated by Art Angels, will tell more of Aku’s story through an art installation for guests to explore and interact with. A special curation of young Black artists including Jade Yasmeen, Asiko, Floyd Strickland, and Solomon Omogboye will be exhibited alongside two new original paintings by Micah Johnson, as well as three screen prints by Jean-Michel Basquiat. Guests will have the opportunity to view and purchase original artworks on-site.

Conceptualized by renowned creative and experiential studio MATTE Projects, the 30,000 square foot space will house a futuristic lifesize art installation of Aku’s Helmet, where guests can experience three otherworldly dimensions of Aku. The Blue Room will host exciting, informal panel conversations led by leaders in art, fashion, music and crypto, and The Patio will provide food and beverages for guests. Aku World: Miami will also host an invite-only VIP opening party on December 2nd with an intimate live musical performance by Kehlani.

Conceived by Micah Johnson in February 2021, Aku has since become the first NFT to be optioned for film and television projects and is the first NFT to travel to space. Aku is a conduit to empower the next generation of explorers and dreamers.

Aku World: Miami will be held at Wynwood Arts 29 (95 NW 29th St, Miami, FL 33127). The ticketed event will be open to the public on December 2-4 from 12pm-7pm daily. Tickets are on-sale now. Visit aku.world for more information.

Follow Aku on Instagram @aku.dreams, Twitter @AkuDreams and Discord.

Meet Aku:

• Digital explorer conceptualized by Micah Johnson in February 2021

• Created to empower the next generation of explorers and dreamers

• First NFT to be optioned for film and TV projects & to travel to space

Explore the Dimensions of Aku World:

• Aku’s Helmet: A futuristic lifesize installation of Aku’s Helmet will invite guests to experience and interact with multiple different worlds of Aku

• Curated Exhibitions: by young Black artists Jade Yasmeen, Asiko, Floyd Strickland, and Solomon Omogboye, alongside two original paintings by Micah Johnson, and screen prints by Jean-Michel Basquiat

• The Merch Room: will host exclusive merch collaborations with VIP guest collaborators Pusha-T, Jerome LaMaar, and Aleali May. Each day will be dedicated to a single limited time, limited edition collection, available for pre-order at the event and online

• The Blue Room: will host exciting, informal panel discussions with leaders in art, fashion, music & crypto; including: special sit downs between Micah Johnson and Aku's merch design collaborators Pusha-T, Aleali May and Jerome LaMaar

• The Minting Room: visitors can create their own 4D-scanned avatar that lives within the Aku universe and mint them into NFTs, which they can later trade, sell or display in their digital wallets

• Crypto Wallet: visitors can sign up for their own crypto wallet, collect NFTs and purchase digital artworks by legendary 3D artist, Raf Grassetti and unique Aku digital works

Event Information:  

WHAT: Aku World: Miami

WHO: Micah Johnson in collaboration with FTX US

WHEN: December 2-4, 2021 | 12PM-7PM

WHERE: Wynwood Arts 29, 95 NW 29th St, Miami, FL 33127

TICKETS: https://aku.world/ (OPEN TO THE PUBLIC) 

E11EVEN Partners And PMG Launch E11EVEN Residences Beyond And Break Ground On E11EVEN Hotel & Residences

After the fastest sell-out of a luxury condo building in Downtown Miami, E11EVEN Partners and PMG have announced they are launching their second phase, E11EVEN Residences Beyond and simultaneously broke ground on E11EVEN Hotel & Residences in Downtown Miami’s Park West district. The project launched due to an unprecedented demand in the marketplace following the sellout of phase one. Rising 65 stories, E11EVEN Residences Beyond offers a highly exclusive, "members only" experience designed to cater to high profile buyers who seek the VIP, entertainment-driven lifestyle of E11EVEN Hotel & Residences and the privacy of a private condominium. Units range from 318-square-foot studios to 993-square-foot two-bedrooms, as well as a presidential collection ranging from 1,167 to 2,762 square feet and penthouses starting at 2,213 square feet, totaling 461 luxury residences.

Designed by Sieger Suarez Architects, E11EVEN Residences Beyond boasts private amenities available only to residents in the tower. They include a helipad, a resort-like sun lounge deck with 93-foot pool, a state-of-the-art fitness center and fully staffed executive office suites. E11EVEN Residences Beyond buyers will also have access to the first tower’s amenities, including the Chopra Spa & Studio, day club, beach club, gourmet food hall, and sports lounge. A private, access-controlled walkway bridge will provide residents direct entry. Owners will also enjoy exclusive access to E11EVEN Residences Beyond Members Social Club.

Starting in the mid $300,000, or the equivalent cryptocurrency rate, all interiors and residences are fully furnished and finished by award-winning design firm AvroKO. Each features custom imported ITALKRAFT millwork and cabinetry, including fully-integrated kitchens and bathrooms with custom countertops and backsplashes and fully built-out closets in the master bedrooms featuring all shelving and drawers pre-installed for absolute convenience. Subzero and Wolf appliances and finishes and flooring selections curated by AvroKO ensure that each residence offers supreme form and function. PMG's smart home technology system will offer unprecedented efficiency through seamless personalization with the touch of a button that includes integrated audio, video and lighting systems.

Penthouse and presidential collection residences feature expansive outdoor terraces with top-level audio systems, towering 8-foot interior doors, upgraded custom ITALKRAFT kitchens with marble countertops and Sub-Zero wine storage, a midnight bar in each master suite, motorized roller shades, and expansive views of the Miami skyline, Biscayne Bay and Atlantic Ocean. Owners of these exclusive units enjoy access to the building through a private lobby entrance.

Taking luxury and style to even greater heights, the penthouses feature fully finished & custom interior layouts to be selected under one-on-one consultation with PMG’s in-house interior architectural design team and include marble flooring throughout the interiors and floor-to-ceiling impact-resistant windows.

PMG Residential is the sales team for the project, led by Raquel Kaufman alongside team members Pablo Rodriguez, Reiner Perez, Adam Freeman, Liza Hernandez and Lauren Negrin.

Since launching in February, E11EVEN Hotel & Residences Miami has garnered both domestic and international interest, including countless celebrity, athlete and executive buyers including high-profile cryptocurrency executives. WNBA player Candace Parker, ESPN co-host Sage Steele and MMA fighter Luke Rockhold are just a few of the high-profile buyers the luxury development has attracted.

The first phase of the project comprises 375 turnkey residences. Each unit comes equipped with fully-integrated “smart building” features and 24/11-style amenities, including celebrity-chef dining experiences throughout the property, a casino-style sports lounge, an E11EVEN Members rooftop experience, and a world-class Chopra Spa & Studio wellness center curated by Dr. Deepak Chopra. E11EVEN Hotel & Residences Miami is a lifestyle experience and destination, the first of its kind in the United States. Completion is expected for the first tower in 2023.

The groundbreaking of the first phase of E11EVEN Hotel & Residences Miami took place on November 11, the date reflecting 11/11, and included city officials, purchasers at E11EVEN Hotel & Residences, Miami real estate industry bigwigs, VIP brokers, celebrities, a celebrity performance and the surprise announcement of the launch of E11EVEN Residences Beyond.

E11EVEN Partners is led by Michael Simkins, Marc Roberts, and Dennis DeGori, who own the neighboring E11EVEN Nightclub. PMG is led by Managing Partners Ryan Shear and Kevin Maloney.

E11EVEN Hotel & Residences and E11EVEN Residences Beyond are two of the first pre-construction condos to accept cryptocurrency as a deposit through a first-time-ever real estate partnership with FTX, the world’s leading cryptocurrency exchange.

E11EVEN Hotel & Residences is located at 29 NE 11th Street and E11EVEN Residences Beyond will be located on the same block at 90 NE 11th Street.

For more information about E11EVEN Residences Beyond or E11EVEN Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

PMG Partners With FTX.US To Accept Cryptocurrency at South Florida Real Estate Developments

PMG has announced a partnership with West Realm Shires Services Inc. (“FTX.US” or “FTX”), a leading U.S.-regulated cryptocurrency platform, as the sole platform handling cryptocurrency conversions for two of its South Florida projects deposits and residential transactions — E11EVEN Hotel & Residences Miami and Waldorf Astoria Residences Miami. This announcement represents FTX.US’s first entry into the real estate market, further establishing developer PMG as a trailblazer in the real estate industry and FTX.US as an innovator in the cryptocurrency financial services space. To commemorate the partnership PMG hosted the FTX/ Crypto Roundtable at Waldorf Astoria Residences Miami where Miami’s real estate leaders with experience completing deals using cryptocurrency met with FTX.US VP of Business Development Avinash Dabir for an in-depth discussion about how the FTX cryptocurrency platform handles cryptocurrency conversions for PMG’s luxury real estate properties.

“As FTX continues to grow its presence in the Miami area, we couldn’t think of a more ideal time to work with such a prestigious cryptocurrency exchange platform,” said Ryan Shear, Managing Partner of PMG. “We foresee this partnership with FTX bringing increased security for our cryptocurrency payment processes offered to buyers due to their extremely diverse portfolio and impressive experience.”

In June, national developer PMG announced it is the first U.S. real estate developer to accept cryptocurrency for condominium deposits in pre-construction projects through E11EVEN Hotel & Residences Miami. Additionally, E11EVEN Partners, the hospitality brand co-developing E11EVEN Hotel & Residences with PMG, announced in April that it is accepting cryptocurrency for transactions at its globally renowned nightlife venue, E11EVEN Miami. Through this deal, buyers utilizing cryptocurrency for either the remaining available inventory at E11EVEN Hotel & Residences Miami or Waldorf Astoria Residences Miami, or each following deposit, will have their payments converted through FTX.US.

FTX.US President Brett Harrison commented on the news, “Alongside FTX, cryptocurrency’s presence on the global stage only continues to grow, and this is just the latest development in that process. We are excited to add such prestigious institutions to our roster of partners and increase consumer access to digital assets and digital asset-related services. At FTX, we believe that crypto is the future of finance and strive to do our part on a daily basis to make this future come to fruition.”

Centrally located in Downtown Miami’s Park West District, E11EVEN Hotel & Residences Miami developed by PMG and E11EVEN Partners will be designed by internationally renowned Sieger Suarez Architects and feature finished residences and hotel rooms by award-winning design firm AvroKO. E11EVEN Hotel & Residences Miami encompasses 375 fully furnished residences. Each unit comes equipped with fully-integrated “smart building” features and 24/11-style amenities, including celebrity-chef dining experiences throughout the property, a casino-style sports lounge, an E11EVEN’s Members rooftop experience, and a world-class wellness center curated by Chopra Spa & Studio. E11EVEN Hotel & Residences Miami is destined to be a lifestyle experience and destination, the first of its kind in the United States. Residences start at $300,000 and include studio, one, and two-bedrooms, as well as a limited Penthouse Collection along with two Presidential Suites.

Located at 300 Biscayne Boulevard, the development of Waldorf Astoria Residences Miami is led by developer PMG, Toronto-based private equity firm Greybrook Realty Partners, global investment company Mohari Hospitality, S2 Development and will be managed by global hospitality company Hilton. The tower will rise 100 stories and 1,049 feet above Biscayne Bay as the tallest residential building south of New York City. The property will consist of 360 private residences as well as 205 guestrooms and suites within the five-star hotel. Signature spaces will include Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a spa and fitness center. The development marks the debut of one of the world’s most iconic hospitality brands, Waldorf Astoria Hotels & Resorts, in the Miami market.

Residences start at $1 million, with sales and marketing being led in-house by PMG Residential, including Aura Aragon, Alejandra Castillo, Karine Carvalho, Daiana Quiceno and Christian Tupper, in collaboration with Fredrik Eklund, Julia Spillman and John Gomes of Douglas Elliman’s Eklund | Gomes Team.

Ultra-Luxe Condo At One Thousand Museum Sells For $7.2 Million In Cryptocurrency Ethereum

Crypto sales in Miami continue to become more mainstream as the city continues to make itself a Crypto City and emerging tech hub. Unit 2202 at One Thousand Museum by Zaha Hadid Architects has sold for $7.2 million in the cryptocurrency Ethereum, becoming the most expensive crypto currency real estate purchase to date in the City of Miami. It is also second most expensive in Miami-Dade County behind a penthouse at Arte Surfside that sold last month for $22.5 million. Keith Marks and Sonia Toth of The Keith & Sonia Team at Brown Harris Stevens were the exclusive listing agents. Zachary Oppenheim and Madison Roberts of Oppenheim Realty brought the buyer.

The 4 bedroom 5.5 bathroom northeast corner unit spans 4,600 SF. The residence offers far reaching views of Biscayne Bay and Miami Beach and overlooks cultural landmarks including Perez Art Museum Miami (PAMM) and Phillip and Patricia Frost Museum of Science. The residence also features spacious balconies and the finest attention to detail and state of the art appliances and lighting, including Poliform, Gaggenau, SubZero, Dornbracht, Petzgold and Creston.

One Thousand Museum is regarded as the essence of unprecedented fusion of art, architecture, design and location within Downtown Miami. Designed by famed architect Zaha Hadid, the building is home to the highest helipad in the US other than Los Angeles. Celebrity residents include David and Victoria Beckham.

Cryptocurrency has emerged as a viable form of payment for real estate and Miami has been at the cornerstone of crypto becoming mainstream. Miami is quickly becoming a cryptocurrency and blockchain hub led by Mayor Francis Suarez. Arte by Antonio Citterio in Surfside became the first new construction project to accept cryptocurrency for real estate followed by E11EVEN Hotel & Residences. A unit would later sell for a record $22.5 million in cryptocurrency at Arte.

For a background on cryptocurrency and blockchain and its application to real estate check out the PROFILE Insider: The Crypto Revolution Versus The Evolution of Blockchain Part 1.

Images via Brown Harris Stevens

For more information about purchasing real estate using cryptocurrency, private showings or purchasing/ leasing information please fill out the form below:

Home Of Miami Heat AmericanAirlines Arena Renamed FTX Arena Following 19-Year $135 Million Naming Rights Deal

AmericanAirlines Arena, home of the NBA’s Miami Heat in Downtown Miami’s Park West neighborhood, has officially been renamed the FTX Arena. The American Airlines signage has now been removed following the Heat’s Round 1 playoff loss to the Milwaukee Bucks. The name change is part of a 19-year, $135 million naming rights deal with cryptocurrency exchange FTX which was approved by Miami-Dade County Commissioners in March 2021.

As per the agreement the Heat, who have 19-years remaining on their lease with the arena, will receive an annual payment of $2 million for the naming rights from Miami-Dade County. FTX branding will also be placed on the Miami Heat’s website and digital platforms, promotions, contests and community engagement. American Airlines will retain a marketing agreement with the Heat.

Miami-Dade County has also entered into a partnership with FTX to collaborate on technology and Fintech education and has committed an additional $5 million in contributions to the county. Miami-Dade County must also reserve a portion of the naming rights deal proceeds to help combat local gun violence and poverty.

The deal represents the first partnership between a cryptocurrency company and a major American professional sports franchise. The partnership further advances Miami quest to be a cryptocurrency and blockchain hub and the Cryptocity.

AmericanAirlines Arena is located at 601 Biscayne Blvd. and first opened on New Years 1999 after the Heat moved from the Miami Arena. The arena was designed by Arquitectonica and 360 Architecture and had a total construction cost of $213 million. The spectator capacity for a basketball game is 19,600. The Miami Heat have appeared in five NBA Finals since 2010 and have won three NBA Championship titles since they were founded in 1988.

FTX US is a US-regulated cryptocurrency exchange led by CEO Sam Bankman-Fried. FTX operates two different exchanges, FTX (ftx.com) and FTX US (ftx.us). FTX is an international cryptocurrency exchange that is does operate in the US and supports more cryptocurrencies than FTX US. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. FTX pursues its mission, led by philanthropic founder Sam Bankman-Fried, to turn revenue into charitable giving which led to the launch of the FTX Foundation in which 1% of all FTX net fees are donated to select charities. FTX US supports Bitcoin, Ethereum, Dogecoin, Sushi, Tron, Tether, Litecoin, Bitcoin Cash and other cryptocurrencies.

Miami has quickly become the Cryptocity, and is becoming a cryptocurrency and blockchain hub led by Mayor Francis Suarez. Mayor Suarez’s goals include turning Miami into a Bitcoin mining hub by using the city’s nuclear power capability. He is also working towards allowing the use of Bitcoin to pay for tax and public services, as well as a salary option for city employees. Mayor Suarez set his focus on a Miami tech boom following the COVID-19 pandemic and has been working to attract the top tech and investment firms from San Francisco, Silicon Valley and New York City. The effort has paid off shown by taxable property values in Miami having doubled over the past decade as high-paying jobs have been attracted to the weather, beaches, restaurants, nightlife, low-tax and high-quality of life.

For a background on cryptocurrency and blockchain and its application to real estate check out the PROFILE Insider: The Crypto Revolution Versus The Evolution of Blockchain Part 1.

Save 5% discount off of trading fees at FTX when you sign up with the following link: Click Here

PROFILE Insider: The Crypto Revolution Versus The Evolution Of Blockchain In Real Estate Part 1

When it comes to understanding cryptocurrency and blockchain, nearly the entire world is in the dark. Bitcoin is stored on the first blockchain and was first released in 2009. Although over the past decade both Bitcoin and blockchain have became more mainstream, the crypto and blockchain worlds are still in their infancy. The real estate world has been forced to adapt faster than most as the demand to use cryptocurrency for real estate transactions has “gone to the moon,” and blockchain developers have created digital databases that streamline and secure every aspect of the real estate industry.

Miami has quickly become the Cryptocity, and is becoming a cryptocurrency and blockchain hub led by Mayor Francis Suarez. Mayor Suarez’s goals include turning Miami into a Bitcoin mining hub by using the city’s nuclear power capability. He is also working towards allowing the use of Bitcoin to pay for tax and public services, as well as a salary option for city employees. Mayor Suarez set his focus on a Miami tech boom following the COVID-19 pandemic and has been working to attract the top tech and investment firms from San Francisco, Silicon Valley and New York City. The effort has paid off shown by taxable property values in Miami having doubled over the past decade as high-paying jobs have been attracted to the weather, beaches, restaurants, nightlife, low-tax and high-quality of life.

As Miami and Crypto have rapidly become synonymous, in honor Miami Crypto Week and following a PROFILEmiami Instagram Story Poll in which 41% of our followers reported investing in cryptocurrency, we wanted to make sure that none of the PROFILEmiami community was in the dark when it came to blockchain, cryptocurrency and real estate. In this three part PROFILE Insider series we will explore the differences between blockchain and cryptocurrency, how both apply to the real estate industry and how Miami is working towards becoming the center of what could be crypto’s “golden age.”

Part 1: Blockchain versus Cryptocurrency

Understanding the difference between blockchain and cryptocurrency is essential. A blockchain is a publicly distributed digital ledger that is managed by a peer-to-peer network using cryptography. It is comprised of an ever-growing list of records which tracks the history and dates of transactions, ownership or occurrences of anything or any process stored on that blockchain.

Each record is known as a “block,” and can store the data of anything from Bitcoin to a real estate deed to a property and its history to the tracking of food from farm-to-table. Each block is timestamped and once stored cannot be modified without modifying all ensuing blocks.

The blockchain was invented by Satoshi Nakamoto in 2008 and that specific blockchain became the public transaction ledger for the world’s first cryptocurrency, Bitcoin. To date Satoshi Nakamoto is unidentified and it is unknown if the name represents a person or a group.

A cryptocurrency is a medium of exchange of digital assets which are denominated as “coins,” which represent ownership of that digital currency. A coin is a verifiable record stored on a decentralized blockchain of cryptography. Cryptocurrencies appeal to many due to being decentralized from governments and the central banking systems. Different cryptocurrencies include Bitcoin, Ethereum, Dogecoin, Ripple (XRP), Tether, Aave, Internet Computer, Bitcoin Cash, Litecoin, Polygon, amongst thousands of others known as “altcoins.”

In a transaction the transfer of the value between each party gets validated and stored on a new block, leaving behind a signature known as a private key, or seed. The validation process, known as “mining,” occurs when a transaction is broadcast to the cryptocurrency network and the transaction is confirmed by high-powered computers solving extremely complex computational math codes which maintain the validity of the ledger of transactions. As the computers solve the codes successful miners will produce cryptocurrency as a reward. Cryptocurrencies can be traded directly from wallet to wallet but also be traded similar to stocks or exchanged for Fiat currency such as the US dollar or other cryptocurrencies on exchanges such as Coinbase, FTX and Kraken.

Cryptocurrencies are stored on digital wallets. There are two types, a “hot wallet” and a “cold wallet.” Hot wallets are run on internet-connected devices such as phones or computers. They are very easy to use and transact with as they are usually an app on your phone, but for this reason they also lack security and can be easy to hack or physically forced access in a theft. Top hot wallets include the Coinbase Wallet, Electrum and Exodus.

“Cold wallets,” also known as “hard wallets,” are fully offline devices that are not connected to the internet, therefore much more secure. Many look like a usb drive or a smartphone, which store the user’s private keys on the secured piece of hardware. A 24-word recovery code is the only back-up for the private keys once transferred onto the hardware wallet. One of the most popular is the Ledger Nano S and Ledger Nano X wallets which use a proprietary OS designed to provide the highest level of security to protect your crypto assets.

Between the top three popular cryptocurrencies, Bitcoin is seen as an investment-grade asset similar to gold and has the potential to become the first global currency; Ethereum is a complex blockchain which is evolving to become the first global computing platform; and Dogecoin, multi-billionaire Crypto enthusiast and Tesla and SpaceX CEO Elon Musk’s favorite coin. Dogecoin is a “memecoin” meaning it was started as a joke but is now considered by some to be a legitimate investment asset.

As of June 6 2021 Bitcoin had a market cap of $676.13 billion, Ethereum of $314.56 billion and Dogecoin of $48.14 billion. Bitcoin has reached as high as $64,829 per coin in April 2021 before dropping down to the mid-$30,000’s in May 2021. Etherem reached a high of $4,380 in early May 2021 before retreating to the mid-$2,000’s. The cryptocurrency markets continue to grow in populating amongst both institutional investors and retail traders and something as a simple tweet from Elon Musk can send the crypto markets into a frenzy.

Stay tuned for Part 2 of our three part PROFILE Insider series where we will explore both cryptocurrency and blockchains application to real estate.

E11EVEN Hotel & Residences The First Pre-Construction Development To Accept Cryptocurrency For Condo Deposits

Miami really is becoming the Crypto City as E11EVEN Hotel & Residences has become the first development to accept cryptocurrency for condominium deposits in pre-construction projects. E11EVEN Hotel & Residences is under development by PMG, led by Ryan Shear and Kevin Maloney, and E11EVEN Partners, led by Michael Simkins, Dennis Degori, and Marc Roberts. The luxury high rise coming to Downtown Miami’s Park West district is on track to be the city’s fastest-selling condominium in the last decade. The announcement comes just ahead of the Bitcoin 2021 conference in Miami, of which E11EVEN Hotel & Residences is a sponsor.

“We are thrilled to join powerhouses like Goldman Sachs that are embracing cryptocurrency as a focal point of future commerce,” said Ryan Shear, Managing Partner of PMG. “Our goal is to lead the real estate development and hospitality industry in implementing modern technology, and accepting digital currency is one more way we’re doing that.”

As cryptocurrencies create immense worldwide wealth and become increasingly mainstream, E11EVEN Partners and PMG sees it as an auspicious time to capitalize on the digital currency market. A consistent trailblazer in the real estate industry, the company expects other developers to follow suit. E11EVEN Partners announced in April that it is accepting cryptocurrency for transactions at its globally renowned nightlife venue, E11EVEN Miami.

Buyers can use cryptocurrency to place deposits on the remaining units at E11EVEN Hotel & Residences. The project, which will break ground later this year, has garnered both domestic and international interest, including many celebrities, athletes, and executive buyers. Among them are WNBA player Candace Parker, ESPN co-host Sage Steele and MMA fighter Luke Rockhold. Residences start at $300,000 and include studio, one, and two-bedrooms, as well as a limited Penthouse Collection and two Presidential Suites.

“As more of the world's wealthy individuals manage their capital through cryptocurrency, we're providing buyers an opportunity to sustain their wealth,” said Michael Simkins of E11EVEN Partners. “With Miami leading the way as a cryptocurrency capital, we’re thrilled to offer this option as a method of payment.”

In total, E11EVEN Hotel & Residences Miami comprises 375 fully furnished residences. Each unit comes equipped with fully integrated “smart building” features and 24/11 style amenities. Residents will enjoy an electric LED fireplace in their living room, fully built-out closets, custom Italian kitchens, a signature Home Essentials Package, and an E11EVEN Resident Membership Package. The building is slated for completion in 2023.

For more information about E11EVEN Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

PROFILEmiami, REALDAX & Creative Glue Present Blockchain in Real Estate On June 28 6-8 PM In Little River

Real Estate is one of the oldest industries in the world with the least amount of true innovation. Blockchain technology, on the other hand, has only been around a few years but has been disrupting industries left and right, including Real Estate. We believe cross-industry collaboration fosters innovation, and that shifting traditional contexts, we can usher in new perspectives. Drawing from multiple pools of knowledge and ways of looking at things will bring novelty and creativity to the table.

At this Crypto Hour, "Blockchain in Real Estate," we will be discussing the different areas of the real estate industry that Blockchain technology can innovate. This includes: Brokers/Agents, Escrow/Legal, Mortgage Brokers, Direct Lenders, Title Insurance, and Deed/Title Registration.

Some of the question you may have that we're going to answer:

• Is it possible to close an RE transaction with Cryptocurrency?
• What would be required for Blockchain to be established in real estate?
• How does the mortgage industry view crypto assets when issuing loans?
• Is Title Insurance going to be a thing of the past?
• Do I have to worry about not having a job in the future?
• And more!!!

A big thank you to our sponsor's and partners who are helping make this all possible:

• 360 Spaces, a beautiful new Co-working space located right in Little River, for their amazing venue!
• Creative Glue, an experiential marketing, and event production agency that aims to bridge the gap between business and creativity.
• PROFILE Miami, who is your one-stop destination for Miami Real Estate news and content. They provide up-to-date coverage on the hottest new developments, market trends, and the coolest homes in Miami's ever-changing landscape.

Also a big thank you to our partners who are going to be keeping us refreshed at this event - Hooch, Wynwood Brewery!

RSVP: bit.ly/360blockchain

Panelists:

• Jorge Guerra Jr. - President for the Miami Association of Realtors
• Hector Garcia - RKTR Agency
• Demetri Demascus - Founder of PROFILEmiami & Investor
• Twinee Villanueva - IHouse Token
• Moderated By: Spencer Lyon - REALDAX

Agenda:

• 6:00 - Check-in / Networking
• 7:00 - Panel Talk
• 7:45 - Q&A