LABS Group has recently announced its new partnership with Refinable. They are to launch the world’s first NFT resort and their first Rewarding Timeshare NFT. This partnership is solely based on the agreement that LABS Group will be utilizing Refinable’s cost-effective, easy to use and fast NFT platform to tokenize and fractionalize all of its real estate assets. It will not only resolve all the traditional timeshare challenges but will also focus on introducing the world’s first value-backed NFT. Also, it will bring about a lot of unmatched benefits to the plate. That may include staying rights, profit-sharing rights, trade NFTs on marketplaces, vote for major decisions like selling the resort for a high value, and several more.
Timeshares are top sellers in several industries like travel and hospitality. They give people the right to use the vacation property whenever they want for a short period every year. However, just like the traditional finance systems, the traditional timeshare market also has a lot of problems. For example – appointments for a vacation property are difficult to make and they are usually unavailable during the peak season.
The shareholders were also responsible for any kind of loss due to any natural disaster. If this wasn’t enough, they also had to renovate the old properties which cost them thousands of dollars. Keeping this in mind, the LABS Group decided to partner with Refinable and introduce RTS-NFTs to solve all these problems.
This announcement has led to explosive growth and expansion of the NFT marketplace sector. Aside from marking one of the first tokenized real estate in NFT and the real estate industry, this has also addressed that these assets are made for high net worth individuals and not just for everyone in the world.
They will organize an auction in mid-July. In that auction, this resort will be fractionalized into 365 RTS-NFTs and will be listed on Refinable’s NFT marketplace. Refinable’s platform will allow all the users to easily buy, sell, exchange and list real estate timeshare NFTs. The holders will also be able to build their own digital wallet portfolio and enjoy a 10% return. This partnership will not only introduce new functionalities for the individual users in both parties but will also establish new ownership opportunities for buyers around the world. They can effortlessly get access to buy these fractionalized real estate NFTs. Additionally, it represents that Refinable has committed to expanding the applicability and functionality of NFTs into a large range of industries and sectors, including financial services.
While this is a newly established partnership, the LABS Group still aims to promote both of these companies’ positions in the crypto and blockchain industry. They endeavor to achieve inspiring future opportunities and reach new heights of success.
Built on Binance Smart Chain, Refinable is an NFT marketplace. It allows its users to trade, discover, leverage, and create any digital content on the blockchain. It is a non-custodial and decentralized platform that creates an accessible environment for all users. Thus, it offers a fast, low-cost, and secure place for crypto and retail users. It lets the users and brands explore, monetize and experiment with the NFT content that they provide.
LABS Group is the world’s first crowdfunding service that specializes in the real estate market. It helps its clients to invest in the largest assets through DeFi, blockchain, and crowdfunding. In other words, this digital platform gives access to fractionalized property ownership and thus enables the trading of real estate assets-backed tokenized shares.
This platform uses blockchain technology and smart contracts to make sure that it provides its clients with full transparency. With the help of this, all the traders can work in collaboration seamlessly and effectively. It is a team of blockchain and real estate professionals who brought together their experience and expertise to create a service that makes property investment a more secure, liquid, and accessible process for the people.