- A house designed with NFT images called “Crypto House” is having a hard time finding buyers
- It went on sale on October 2022 for $1.2 million but is currently less than $949,000
- It is available for rent via Airbnb since March 2022 although it has gained attention on social media
On March 2022, during the early NFT craze, a property called “Crypto House” in the fancy area of North Hollywood, California, lit up in the Airbnb list. Elle Levy, the creator of the house, said in a BuzzFeed interview that it cost “$1,000 a night for booking it.” Today, it only charges $547 per night.
When the crypto hype piped down since June of last year, Levy decided to put up the house on sale a few months later. She had to sell it after neighbors complained about loud, party-driven “crypto bros” who stayed there. The initial price was $1.2 million in October and slowly depreciated to this month’s worth of less than $949,000.
While the concept of the four-bed, three-bath house may be “tacky in a good way,” Levy said it was tailored for the hardcore crypto supporters who wanted an “extravagant” place for them. Every room in the house is loud with blockchain themes. Popular collections such as CryptoPunk and Bored Ape Yacht Club lined together to make the living room and kitchen wallpapers while a collage of Bitcoin, Ethereum, and Dogecoin images spread within the bedrooms.
The house is spacious and organized but was targeted toward those familiar with NFTs and cryptocurrencies. To this day, the house is still looking for a buyer.
Dedicated to Crypto Investors
When Elle Levy started investing in cryptocurrencies in 2017 after a 17-year-old acquaintance introduced Bitcoin, she gained enormous wealth – more than enough to start flipping properties. She used the money to build a crypto-themed house in North Hollywood as her way of tribute to Bitcoin for her success.
On January 2023, she stopped maintaining the house and moved on to other non-crypto-based projects.
While it was thoughtful of her to establish a property heavily themed with blockchain assets, Crypto House received criticisms online, especially on Instagram, when ZillowGoneWild, an account that features weird and beautiful homes, posted it on October 13, 2022. It went viral with more than 25,900 likes.
Comments were sarcastic regarding the value of the property. One user said,
“I’m gonna need a lot of Dogecoin to strip all the walls and repaint.” Another commented, “Live Laugh Love: Crypto Bro edition,” while someone else frankly stated, “Bless their hearts. The level of cringe/tackiness within this one property far exceeds what should exist in general, phew.”
Physical Properties as NFTs Become Real
While Crypto House is loud and proud as an NFT-themed property, real estate is slowly adapting to new ways of purchasing houses and lots: NFTs. On October 17, 2022, property marketplace Roofstock bought a house in Colombia, South Carolina, for 175,000 USDC. The ownership came in the form of an NFT, which Roofstock bought.
House ownership via NFT breaks through all the hassles and paperwork needed to buy a property because the smart contract contains everything in one go. While the transaction seems taboo to many investors and potential buyers, blockchain technology could continuously evolve how people do business.
