SAN SALVADOR, El Salvador, April 01, 2022 (GLOBE NEWSWIRE) -- 3 Torres and Fusso RE Token, Inc [Fusso NFT], the initial complete real estate development to be sold as non-fungible tokens [NFTs], has announced the launch of its project. A $60 million real estate project located in El Tunco, the tourist area of Bitcoin Beach, also known as Surf City, El Salvador, the highly exclusive real estate development unit contains two, three and five-bedroom beachfront units.
Buyers will enjoy genuine tropical weather, the ISA World Surfing Games [taking place in El Salvador as announced], and fantastic nightlife, all within a thirty-minute drive from both the international airport and the capital and 2.5 hours flight from Miami, Florida, USA.
Additionally, El Salvador does not charge capital gain tax on cryptocurrencies.
Fusso NFT, in addition to the previously mentioned perks, will include access to an onsite beach club, gym, motor lobby, restaurants, pools, bars, commercial areas, and a private NFT art gallery as further benefits of owning these revolutionary NFTs.
Real Estate Development NFTs
The investment can lead to legal residence if the legal reforms are approved by the Congress.
Once an apartment unit is bought at Fusso, the buyer receives an equivalent in NFT form that gives full ownership of the physical property. He then can use, resell, rent, or fractionalize it or get a mortgage.
Fusso NFTs' decision to build this groundbreaking real estate development in El Salvador, the crypto-friendly nation, greatly benefits potential apartment unit buyers. Unlike the US, UK, and Canada, where crypto holders and traders are taxed for gains, El Salvador does not tax capital gains on cryptocurrencies. Furthermore, there is no property tax in the Central American country.
El Salvador is currently the only country where Bitcoin is a legal tender.
With a base price of $400,000, construction will kick off in Q4 of 2022.
Developed by 3 Torres
Aimed at providing comfortable apartments through NFTs—-the first of its kind—-Fusso NFT will leverage the expertise, knowledge, and experience of 3 Torres, the leading real estate development company in El Salvador.
Founded in 2002, 3 Torres, in that time, has delivered over 25 million square feet of residential projects across the Central American country.
In an attempt to accelerate the adoption of NFTs in the real estate industry in the country, Fusso NFT is calling on property owners and real estate developers seeking to sell their properties via NFTs. Those seeking to buy real estate properties via NFTs in different locations would do well to join the Fusso NFT subscription list to stay abreast of all recent happenings in the space.
About Fusso RE Token
Fusso RE Token is the first full-service Real Estate tokenization is a platform that makes it easy for developers, owners, and real estate agents to tokenize and sell their assets in the USA and Latin America.
Located in El Salvador, the only country where Bitcoin is a legal tender, Fusso seeks to offer potential NFT buyers a plethora of benefits—ranging from tropical weather to affordable apartment units at the city's heart, a permanent residence status [subject to Congress law amendment], and access to other amazing centers. A bold step in the NFT and real estate industries, Fusso is on course to pioneer a paradigm shift in how these non-fungible tokens are used.
Company: Fusso RE Token, Inc
Contact: Jose Luis Barreto, VP of RE Tokenization
Company: 3 Torres / GALMACO, SA de CV
Contact: Donato Galdámez, CEO
SOURCE: Fusso RE Token, Inc