Miracle Estate Breaks Ground on Project Aimed at Solving Cyprus’s Real Estate Challenges with NFTs
October 14 2024 - 4:15PM
The highly anticipated groundbreaking ceremony for the new hotel
and residence complex, Phoenic Hera, in Northern Cyprus took place
on Friday, October 11th. Miracle Estate, a subsidiary of Miracle
Technologies Group, which develops asset-backed blockchain
projects, decentralized finance solutions, and mobile POS
technologies, has laid the foundation for its new hotel and real
estate project, Phoenic Hera, powered by blockchain and advanced
technological infrastructure.
The real estate project, which will feature a hotel and
residence complex, will be located in Northern Cyprus, just 50
minutes from the airport and 60 minutes from two major city
centers. Investors who purchase NFTs to participate in the project
will enjoy free stays throughout the year and access to all hotel
amenities. They will also earn rewards from the hotel’s operations,
trade their NFTs, and acquire Phoenic Token, the native token of
the Miracle ecosystem. As part of the project, Miracle Estate plans
to invest a portion of its revenue into Phoenic Token to enhance
the benefits for NFT holders.
Located in one of the most valuable investment
areas
The complex will be built in the heart of a region that has been
consistently recognized by Forbes magazine as one of the most
valuable investment areas in Northern Cyprus since 2021. As part of
the Phoenic Token strategy, the project offers a cost-effective
alternative to the rising housing prices and shrinking real estate
investment opportunities in the area. The groundbreaking ceremony,
held on Friday, October 11th, marked the official start of the
project.
“We are breaking new ground in both the physical and digital
worlds,” said Hakan Törehan, CEO of Miracle Cash &
More. “By converting our hotel and
real estate project in Northern Cyprus into blockchain-based
Utility NFTs, we offer investors comprehensive benefits. Those who
acquire Utility NFTs from the hotel project will also become
Phoenic Token holders, investing in this growing ecosystem and
gaining usage rights in both the hotel and residence projects.”
Phoenic Token is more than just a token. It is the fuel behind
groundbreaking projects like this one. As part of the Phoenic
ecosystem, it powers a new generation of digital currencies and
asset-backed investments, allowing holders to tap into unique
ventures and strengthen their positions in the evolving market.
“Turning real-world assets into Utility NFTs in the real
estate sector”
The construction process for the project, which is expected to
generate $600 million in benefits, is planned to be completed
within three years. Hakan Törehan shared, “Once
the project is complete, investors will be able to enjoy all the
services of this hotel complex for free every year. They will track
their reward streams in real time through the Miracle App, and
thanks to the financing provided by products like Node, Leveller,
and Exchange, which power the Miracle ecosystem, investors can make
real estate investments at more advantageous prices. Miracle
Technologies Group will also invest in Phoenic Token, a utility
token. This groundbreaking ceremony is the strongest proof that we
are playing a pioneering role in the intersection of the real
estate and blockchain sectors, transforming real-world assets into
Utility NFTs.”
Hakan Törehan, CEO of Miracle Cash
& More. also emphasized that
Miracle Estate is the real estate and tourism-focused subsidiary of
Miracle Technologies Group, a global leader in blockchain
technologies. Törehan concluded his remarks by
stating: “In May 2024, we announced that we would launch a
blockchain-based hotel and real estate project in Northern Cyprus,
a region known for its real estate and tourism projects. With the
groundbreaking ceremony in the first days of the fourth quarter of
the year, we reinforced our belief that projects capable of
overcoming regional and cyclical challenges can emerge from the
intersection of traditional sectors and new technologies. Phoenic
Token, which is not an ordinary utility token, powers unique
projects across the Miracle Technologies ecosystem and can be
accessed via various exchanges. Investors who purchase the Phoenic
Hera Hotel NFT can easily benefit from the project, including the
option to acquire additional Phoenic Tokens.”
For more information about Phoenic Hera,
visit www.phoenichera.com
Serdar Özerman
info-at-miracle-estate.com