There’s no place like Miami. Soon, this will also be said among crypto fanatics as the touristic Floridian city known for its sun and beaches may soon be a hub for purchasing land and property through blockchain technology.

A charitable trust by the name of the Captain Haiti Foundation announced a $5 million raise, sponsored by private equity firm Dargent Group, to help residents purchase affordable housing through a blockchain initiative. According to the Captain Haiti Foundation, the partnership aims to boost blockchain technologies in efforts to “combat Miami’s housing crisis and the ongoing gentrification of the Haitian community.”

The foundation’s chairman, Nandy Martin, highlighted that the fund is dedicated towards helping residents acquire land, family housing and commercial real estate in Miami’s Little Haiti neighborhood: “By achieving just 5% of Wynwood’s Wall success, our Little Haiti Walls initiative could attract 150,000 tourists annually, stimulating local businesses and amplifying cultural exchange.”

Martin will partner with Web3 music infrastructure provider Nusic to release a limited edition non-fungible token (NFT), followed by raising $300,000 to beautify the neighborhood, with 30% of the funds to be allocated to community public arts, cleanups and planting greens.

Sources:

https://cointelegraph.com/news/miami-blockchain-folk-hero-secures-5m-for-community-tokenization

https://www.coindesk.com/tech/2023/05/18/miami-bitcoin-conference-flags-attendance-down-by-half-as-crypto-winter-drags-on/