By structuring the prize as a 30-year leasehold compliant with Indonesian regulations, Baliving’s NFT lottery system maintains legal validity while utilizing Ethereum’s blockchain to ensure verifiable fairness in winner selection. The villa itself represents substantial value with premium amenities including a private pool and rooftop terrace. The contest proposition’s attractiveness is significantly enhanced given the modest entry cost — 0.03 ETH (~$70).
The blockchain-based system addresses common pain points in international real estate transactions by eliminating complex paperwork and reducing financial barriers to entry. Technology enthusiasts may appreciate the project’s practical application of NFTs beyond speculative digital assets.
Image Credit: Baliving
