Tuesday, August 20, 2019

Paris Hilton’s Father To Auction House For $38 Million in Cryptocurrency

Paris Hilton’s father, Richard “Rick” Hilton, famous realtor and chairman of Hilton & Hyland announced the sale of his 16th-century house to be auctioned on the blockchain.

According to The Palazetto, the mansion consists of a total surface area of 1613sq m with 11 bedrooms, 15 bathrooms, 3 kitchens, along with a movie theatre, a spa, and a gym. It was also a historic property set in the center of Rome originally designed by the architect Giacomo Della Porta who was a collaborator with Michelangelo.

The mansion was reported with a worth in excess of $US35 million opened for auction that will take place on June 28 (3 PM ET), with registration open until June 27.

Propy.com, California-based global property store, are tasked to host the auction event. After the successful auction done by Propy recently, the company calls itself the first international real estate market that allows buyers to purchase online properties.

“The people from Propy were fantastic to work with, I’ve been reading that this tech is perfect for certain types of transactions. Real estate is one of them,” said buyer Katherine Purcell about her experience.

“The auction shows real estate’s growing trust in blockchain and provides crypto investors an opportunity to diversify and solidify their portfolio with a trophy asset,” Hilton says in his online marketing material

Auctioned Properties in Cryptocurrency

Over the popularity of cryptocurrency in the market, Hilton was not the first one to auctioned property through cryptocurrency. Last year, more than 20 houses were sold for cryptocurrency. Miami Estate, particularly, was purchased for 455 bitcoins, an equivalent value of $US6 million and more are reportedly set to come.

Related Article:  NASDAQ Could Prevent Fraud In Crypto Exchanges Using Its Tech

Although, Palazetto Mansion will now be the highest auctioned property in the blockchain surpassing the Miami Estate.

Hiltons’ involvement in Crypto

Rick Hilton as a successful businessman, also shared his skills with his daughter, Paris. Last year, Paris Hilton advocated Gravity4’s Lydian token with the hashtag #ThisIsNotAnAd, stating her obvious embrace to cryptocurrency.

Meanwhile, celebrities promoting and using different cryptos are raging high this year, boosting a lot of citizens to also invest in crypto.

With the impressive support of different personalities in cryptocurrency whether for realty or savings, this has made an enormous impact on people to be more interested in crypto. For the next years to come, crypto may also change how people are living now and that’s what we must look forward in the future.

 

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