Miracle Estate Breaks Ground on Project Aimed At Solving Cyprus’s Real Estate Challenges With NFTs

A hotel and residence complex, powered by Miracle Estate’s cutting-edge utility NFT strategy, is set to revolutionize real estate investment in Northern Cyprus. Investors who purchase NFTs from the Phoenic Hera project will be able to track their returns from the hotel’s income and its facilities in real time via the Miracle app, all while enjoying a stay at the hotel and benefiting from the project’s many additional amenities. The project is slated for completion in 2027, with groundbreaking scheduled for October 11th.

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