One of Australia's largest real estate groups, LJ Hooker, is preparing a live luxury real estate auction for cryptocurrencies with a live auctioneer. The company is working with James Pratt Auctions and blockchain company Nuyen, which will facilitate online bidding for the five-bedroom house in New South Wales, Australia. Micky media outlet reported Monday:

According to Nuyen, the auction has attracted interested buyers from the U.S., Canada, China, and Australia, the publication detailed. Costello was quoted as saying: "We have already had parties register for the auction in less than 5 days of it being released … There has been a lot of international interest and publicity and I expect to see this grow and grow as the auction gets closer."

Furthermore, he told the news outlet that he believes there will be more live auctions for cryptocurrencies in the future because international bidders can easily participate, elaborating:

All signs point to a borderless system where digital assets are traded for real assets.