UCASU Announces Ethereum-based NFT representing Atlanta Historical Landmark
July 12 2021 - 8:53AM
ADVFN Crypto NewsWire
UCASU Announces
Ethereum-based NFT representing Atlanta Historical
Landmark
Atlanta, GA -- 07/12/2021 -- InvestorsHub NewsWire -- UC Asset
LP (OTCQX:
UCASU) announced the company has partnered with third-party
cryptocurrency focused companies to offer real estate NFTs
(non-fungible tokens), to represent particular artistic and
proprietary rights of historical buildings. The flagship project
will focus on the historical Rufus Rose House, the oldest building
in the heart of downtown Atlanta. Built in 1901, Rufus Rose House
is Atlanta's only standing Victorian Queen Anne mansion. It is a
national Historic Place designated by federal government, and an
official Landmark Building of the city.
NFTs have dominated in the digital art and other digital
collectibles over the past year. Based on block-chain technology,
NFTs are almost immune to unauthorized copying or changing, making
it a powerful vehicle to represent digital proprietary rights. The
wave was followed by sports related events like the Super Bowl and
Kentucky Derby, along with unique collectibles involving iconic
celebrities.
Historical buildings hold unique artistic and collectible value,
which can be tokenized into NFTs, making them available and
accessible to broader groups of collectors and sponsors. Partnering
with Atlanta-based Great Estate NFT and Singapore-based Bingoo
Fintech, UC Asset will transfer certain artistic and proprietary
rights derived from historical landmark buildings to its technology
partners, who will build those unique proprietary rights into
Ethereum-based NFTs and sell them, repaying UC Asset for use of its
property rights.
"People have been selling real estate NFTs but as far as we have
observed, they are virtual properties built in a virtual
block-chain world with no physical existence in the real world; and
do not offer buyers access to real properties." explains Larry Wu,
founder of UC Asset. "The NFTs offered by our technology partners
will be the first of a kind, which will represent proprietary
rights as both a piece of digital artwork and a piece of real
estate. We believe this disruptive concept of interweaving the
digital and physical world will lead the new trend of NFT
creation."
Wu suggests historical landmark NFTs will offer new property
rights that traditionally have not existed. "NFT technology offers
the ability to add new information to a token without compromising
the existing information. Using NFT technology, a historical
building can be digitized and keep its original history, while
allowing new information to be added to its history so it will
record its evolving history in real time. Buyers are no longer
passive collectors. They become active partners and contributors to
the content of those tokens and to the evolving history and legacy
of the building," Wu explains.
For Rufus Rose House specifically, UC Asset hopes NFTs created
from this cherished landmark will tell the story of its southern
legacy, while working to promote the diverse and socially inclusive
future of the city of Atlanta.
All proceeds, from its partners' sale of NFTs, will be used to
refurbish and restore Rufus Rose House until the building is fully
preserved.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of
investing in real estate with value-added strategies, concentrating
in metropolitan areas of Atlanta, GA. For more
information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
For More Information Contact:
Christal Jordan | Investor Relations Director, UC Asset LP
cjordan@ucasset.com | 678-499-0297
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