Bitcoin News and Finance
LABS Enters the NFT Market – The Real Estate Market Game Changer Skip to main content

LABS Enters the NFT Market – The Real Estate Market Game Changer

LABS Group, the first end-to-end crowdfunding service in the blockchain and real estate industry, has launched the world’s first community-powered and owned resort – Kunang Kunang Glamping Resort. LABS Group fractionalised the entire resort into 365 Rewarding Timeshare (RTS) NFTs, providing successful bidders with benefits never seen before in the traditional timeshare market. The RTS-NFTs will be sold via an auction on Refinable NFT marketplace starting from 1PM UTC July 15th, 2021.

Project Introduction Video

What is Kunang Kunang RTS-NFT and How Does It Work?

 

How to Join?

The Auction will be starting from July 15th 1pm (UTC) to July 28th.

The 365 RTS-NFTs will be sold off via an auction held on the Refinable marketplace with a starting price of 9999 USDT.

To participate in the auction, users must first understand the details of the project on LABS Group’s project site. Potential bidders can then visit the Refinable marketplace, search for “LABS Group”, and place a bid for the listed property.

The auction in particular will provide the top 3 highest bidders and the top bidder each month with a one-time benefit of resort rooms naming rights. On top of that, there will be one separate NFT that gives the winner the right to name the resort that comes with 10 free nights of staying benefit per year for 10 years.

 

What is RTS-NFT?

RTS-NFT, aka Rewarding Timeshare NFT, is a revolutionary NFT invented by LABS. Bringing applicability of NFTs to the real estate industry, RTS-NFT makes resort investment possible for everyday investors. Each RTS-NFT represents 1/365 of the total profit share, where holders will enjoy their token rights for 30 years.

These token rights are designed to combat certain issues that arose with the traditional timeshare market by conferring various benefits, such as:

  • Profit Backed Rewards — Actual profit backed rewards of the property generated from the resort operations will be shared to RTS-NFT Holders. The projected return on investment is 10-15% per year, which means that investors could break even in year 7. There is also a guaranteed minimum 10% return per year in the first 2 years based on the nominal price.  
  • Staying Right — RTS-NFT will each represent a specific day in the calendar and the corresponding staying right (on that day) on the best room available basis with a penalty clause to compensate for unavailability for whatever reasons. 
  • Trading Right — NFTs would be tradable on marketplaces based on Binance Smart Chain (BSC) and Ethereum. 
  • Swapping Right- RTS-NFT holders would be able to swap the days, the incentive point, and the location (of other resorts) later either among themselves, on the marketplace, or within the LABS ecosystem. 
  • Voting Right — Built-in voting content (80%+) for major operational decisions (if applicable), such as selling off the resort at a high value.

By tokenizing and fractionalizing the property, RTS-NFT allows investments to become more accessible, eliminating the barrier of a high minimum investment. Anyone will be able to invest in real estate products worldwide in fractional shares.

 

What is Kunang Kunang?

Named after “firefly” in Indonesian, Kunang Kunang is the first ever community-owned glamping resort and the first RTS-NFT on Binance Smart Chain. Sitting on 6,800 square meters in a lush green forest surrounded by paddy fields in Banyuwangi, it is only a 30-minute drive away from Banyuwangi Airport and a 30-minute flight from Bali.

According to the Indonesia Statistics Department, in 2020 the average occupancy rate of all hotels in Banyuwangi is 65% despite the pandemic, with occupancy numbers hitting 80-90% for most hotels.

The development is designed by award-winning architect Willy Sandy Ekaputra to create a special wilderness atmosphere while keeping all the comforts of home, and luxury of a hotel.

Its soft opening will be in December 2021, with a grand opening slated for February 2022.


 More high resolution images for the project can be seen in the following link.


 Kunang Kunang Resort marks as a major first step for LABS Group to make real estate accessible for everyone. With the project, LABS Group will not only revolutionize the real estate sector by alleviating traditional timeshare issues and fractionalizing real estate, but also revolutionize the blockchain industry in the near future. To know more about the details of Kunang Kunang or LABS Group themselves, follow their social media channels listed below.

keep an eye on the auction and connect your wallet to the Refinable marketplace to join!

 

About LABS Group

LABS is a digitized real estate investment ecosystem that is powered by blockchain and community. The ecosystem, which aims to redefine the real estate investment sector, includes a Crowdfunding and Trading Platform, a Collateralized Lending Platform, and NFT reward solutions on Resorts and Hotels. Using the LABS platform, developers can easily tokenize and fractionalize their real estate, allowing them to sell or trade it.

Website: https://labsgroup.io/
 Telegram: https://t.me/labsgroupio
 Twitter: https://twitter.com/labsgroupio
 Discord: https://discord.gg/3pYb3MTg
 Instagram: https://www.instagram.com/labsgroupio/
 LinkedIn: https://www.linkedin.com/company/labs-group/

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory