Miracle Estate begins construction on a project that aims to solve Cyprus’ real estate problems through NFTs
The groundbreaking ceremony for Phoenic Hera, the much-anticipated new hotel and residence complex in Northern Cyprus, took place on Friday 11 October.Day. Miracle Estate, a subsidiary of Miracle Technologies Group, which develops asset-based blockchain projects, decentralized financial solutions, and mobile POS technology, has laid the foundation for a new hotel and real estate project. Phoenician HeraIt is based on blockchain and advanced technological infrastructure.
The real estate project, featuring a hotel and residential complex, will be located in Northern Cyprus, just 50 minutes from the airport and 60 minutes from two major city centres. Investors who purchase NFTs to participate in the project will receive free nights and access to all hotel amenities throughout the year. Additionally, they will receive rewards for operating the hotel, trade NFTs, and earn Phoenic Tokens, the native token of the Miracle ecosystem. As part of the project, Miracle Estate plans to invest a portion of its profits into Phoenic Tokens 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 an area that has been consistently recognized by Forbes magazine as one of the most valuable investment locations in Northern Cyprus since 2021. As part of the Phoenic Token strategy, the project offers cost-effective alternatives to: Rising home prices and fewer real estate investment opportunities in the area. A 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. “Transforming hotel and real estate projects in Northern Cyprus into blockchain-based utility NFTs, providing comprehensive benefits to investors. Those who acquire utility NFTs from hotel projects will become Phoenic token holders, investing in the growing ecosystem and gaining usage rights in both hotel and residence projects.”
Phoenic Token is more than just a token. This is the driving force behind groundbreaking projects like this. As part of the Phoenic ecosystem, we support the next generation of digital currencies and asset-based investments, allowing holders to leverage unique ventures and strengthen their position in an evolving market.
“Converting real assets into utility NFTs for the real estate sector”
The construction process of the project, which is expected to generate $600 million in profits, is expected to be completed within three years.
Hakan Torrehan “I shared it.”Once the project is completed, investors will be able to enjoy all the services of this hotel complex for free every year. They will track reward flows in real time through the Miracle app, and thanks to the financing provided by products such as Node, Leveller, and Exchange that power the Miracle ecosystem, investors can make real estate investments at more favorable prices. Miracle Technologies Group will also invest in Phoenic Token, a utility token. “This groundbreaking is the strongest evidence yet that we are playing a pioneering role at the intersection of the real estate and blockchain sectors, transforming real-world assets into utility NFTs.”
Hakan Torrehan, Miracle Cash & More CEO. It was also highlighted that Miracle Estate is a real estate and tourism-focused subsidiary of Miracle Technologies Group, a global leader in blockchain technology. Torrehan He concluded his remarks by saying:In May 2024, we announced the launch of a blockchain-based hotel and real estate project in Northern Cyprus, a region famous for real estate and tourism projects. Breaking ground early in the fourth quarter reinforced our belief that projects that can overcome regional and economic challenges can emerge from the intersection of traditional sectors and new technologies. Rather than being a typical utility token, Phoenic tokens power unique projects across the Miracle Technologies ecosystem and are accessible through a variety of exchanges. Investors who purchase the Phoenic Hera Hotel NFT can easily enjoy the benefits of the project, including the option to earn additional Phoenic tokens.”
For more information about Phoenic Hera, visit: www.phoenichera.com
