Rick Hilton, who is the father of Paris Hilton and chairman of Hilton & Hyland, is all set to sell a 16th-century Roman mansion for cryptocurrencies. The auction for the property will be held on June 28, and it will make history as the first ever property to be auctioned on blockchain.
The 11-bedroom house is, reportedly, worth upwards of $35 million. The sale will go online on Propy.com, which is a global property store with decentralized title registry.
Realtors Love Cryptocurrencies and Blockchains
In 2017, at least 20 homes were sold for cryptocurrencies globally. This year, the bar could be set much higher.
Hilton said: “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.”
The priciest home ever sold using cryptocurrencies was a seven-bedroom Miami estate. It was sold for 455 Bitcoins or approximately $6 million. The Roman mansion could easily break this record and set a record high.
A Listing Beyond Compare
The Palazzetto, which is a grand mansion designed and built by Michelangelo’s collaborator Giacomo Della Porta, is an Italian landmark. Della Porta was also involved in the building of St. Peter’s Dome, which is another famous landmark in Rome, Italy.
The mansion is composed of two independent but connected luxury units. The property boasts of multiple entrances, an in-house theater, a secret garden, a wellness spa, and a gym.
The rooftop offers 360-degree views of the city and bird’s eye view of the neighborhood along with the Altar of the Fatherland. It has 11 bedrooms, 15 and a half bathrooms, three kitchens and multiple living and dining rooms, complete with four parking spots.