Developer Nile Niami proposes using 'The One' to back cryptocurrency as he fights to head off a February auction of his Bel-Air mega-mansion.
in a video released Monday
Sporting a tie-dye T-shirt and sunglasses overlooking a tropical beach in the video, Niami said he wants to create a cryptocurrency called “The One Coin” that would be backed by the home. Once the tokens are created and traded, he said, it would transfer the value of the house to the coin. He’s hoping for a savior — an Elon Musk or a crypto billionaire who likes his idea and will swoop in with enough money to pay off his debts before it heads to auction.
“What I’m suggesting is taking something like the Mona Lisa and giving the world the right to own it. Instead of sitting in a museum, it’ll have a thousand different uses,” he said. The house is still not finished but will be sold “as is,” according to the document. The property’s receiverit could take $10 million and as long as 12 months to repair and finish the mansion.
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