Why Does This Luxury Mansion Have a NFT Gallery?

Set to go under the hammer online this month for US$87.77 million, the Los Angeles property has a variety of features created for the display of non-fungible tokens

This luxury property in Los Angeles’s exclusive Bel-Air enclave has 19,581 sq ft of interior space and a total of 0.5 hectares of land—yet its pièce-de-résistance is the capability to showcase prized goods in the virtual universe.

Set to go under auction online on April 21 for US$87.77 million, the seven-bedroom, 11-bathroom home, named Palazzo di Vista—Italian for “palace of views”—features a non-fungible token (NFT) gallery, as well as a 3D laser projector that displays NFTs over the infinity pool.

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Above Properties of this magnitude and price point can take years to sell, says Aaron Kirman, who is co listing the home—and the owner wants a shorter timeline, which inspired the decision to put Palazzo di Vista up for auction (Photo: Joe Byrant)

The gallery, which is in a space dubbed the “showcase garage”, has ten screens to exhibit prized NFT art. The 3D laser projector, meanwhile, is rotatable, and showcases NFT art by casting a rhomboid-shaped light up to 1,650 sq ft above the surface of the water.

The design of the projector takes inspiration from the famed World of Color attraction at the Disneyland Resort in California.

Above The technology behind the 3D projector is proprietary is owned by international art firm MDP Art Curators (Photo: Joe Byrant)

“One of the main draws to NFT features in residential homes is the striking visual and audio effect,” Aaron Kirman, Los Angeles-based founder of real estate firm Aaron Kirman Group and president of the estates division at real estate platform Compass, who is co-listing the property, tells Tatler Homes. NFTs are generating increasing interest, especially from millionaire and billionaire home buyers, he adds.

Above While the home's NFT features are generating plenty of buzz, it also offers plenty of luxurious amenities (Photo: Joe Byrant)

Palazzo di Vista is developed by by Los Angeles celebrity dermatologist Alex Khadavi, and the process took six years. Khadavi had “decided to take a leap and implement NFTs before it was on-trend,”, says Kirman.

Having a dedicated space for NFTs makes a property unique, he adds—and the low-level security maintenance the virtual art requires is also a draw. “Since the owner owns all the rights to each piece, the art doesn’t need insurance [and] it cannot be stolen [from the home] or damaged.”

Above A glamorous bar completes one of the living spaces in the home (Photo Marc Angeles)

Other design highlights include a retractable, hydraulic DJ table in the living room and a koi pond created in compliance with feng shui philosophies. Calacatta gold marble, a much sought-after natural stone, is used for the flooring, as well as in the vanities and master bedroom’s en suite bathroom.

The home also offers panoramic views of Los Angeles, as well as the San Gabriel Mountains and the Channel Islands of Southern California.

Above California's famous indoor-outdoor living aesthetic is seen in the home (Photo: Marc Angeles)

The online auction of the home will take place via Concierge Auctions and is accessible to buyers around the world, with a reserve price of US$50 million.

“NFTs cater to many different groups of people—those interested in art, those interested in technology, and those interested in investing and who have their eye on what’s new and next,” says Chad Roffers, president of Concierge Auctions.

“With NFTs increasing in popularity, I think it only makes sense that we will begin to see more crossovers [involving NFTs] in real estate.”

Above Other features in the home include this impressive garage and a glass elevator (Photo: Juwan Li)

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NFT Luxury Real Estate Luxury Property Los Angeles

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Why Does This Luxury Mansion Have a NFT Gallery?