LABS enters the NFT market


The LABS Group, the first end-to-end blockchain and real estate crowdfunding service, has launched the world’s first community-managed and owned resort, the Kunang Kunang Glamping Resort. The LABS Group has split the entire resort into 365 Rewarding Timeshare (RTS) NFTs, providing bid winners with benefits never seen before in the traditional timeshare market. RTS-NFTs will be auctioned on the Refinable NFT Marketplace starting at 13:00 UTC on July 15, 2021.

Video about the project

What is Kunang Kunang RTS-NFT and how does it work?

How to join?

The auction will run from 13:00 on July 15 (UTC) to July 28.

365 RTS-NFTs will be auctioned on the Refinable Marketplace with a starting price of 9999. USDT

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

The auction, in particular, will provide the three highest bidders and the highest bidder each month a one-time benefit in the form of the title to the resort rooms. On top of that, there will be one separate NFT that will give the winner the right to name a resort that provides 10 complimentary nights per year for 10 years.

What is RTS-NFT?

RTS-NFT, also known as Rewarding Timeshare NFT, is a revolutionary NFT invented by LABS. By making NFT applicable to the real estate industry, RTS-NFT makes resort hotel investments possible for casual investors. Each RTS-NFT represents 1/365 of the total profit share, the owners of which will enjoy their rights to the tokens for 30 years.

These token rights are designed to combat specific issues encountered in the traditional timeshare market by providing various benefits such as:

  • Income Backed Rewards – Actual rewards, as evidenced by the property income generated by the resort, will be transferred to RTS-NFT Holders. The projected return on investment is 10-15% per year, which means that investors can break even in the 7th year. There is also a guaranteed minimum 10% rate of return per year for the first 2 years, based on the par price.
  • Correct Stay – Each RTS-NFT will represent a specific day on the calendar and the corresponding eligibility (on that day) based on the best available number with a penalty clause to compensate for unavailability for whatever reason.
  • Eligible to Trade – NFTs will be traded on marketplaces based on Binance Smart Chain (BSC) and Ethereum.
  • Exchange of Rights – RTS-NFT holders will be able to exchange days, incentive point and location (of other resorts) later, either among themselves, in the marketplace, or in the LABS ecosystem.
  • Voting Rights – Embedded voting content (80% +) for critical operational decisions (if applicable), such as selling a resort at a high price.

Through tokenization and property fragmentation, RTS-NFT makes investments more affordable by removing the high minimum investment barrier. Anyone can invest in real estate around the world with fractional shares.

What is Kunang Kunang?

Named after the “firefly” in Indonesian, Kunang Kunang is the first ever community-owned glamping resort and the first RTS-NFT on Binance Smart Chain. It is located on an area of ​​6,800 square meters in a lush green forest surrounded by rice fields in Banyuwangi, just 30 minutes from Banyuwangi Airport and 30 minutes from Bali.

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

The complex was designed by award-winning architect Willie Sandy Ekaputra to create a unique wilderness ambience while retaining all the comforts and luxury of a hotel.

Its soft opening will take place in December 2021 with a grand opening scheduled for February 2022.

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

Kunang Kunang Resort is an important first step for the LABS Group to make real estate affordable for everyone. With this project, the LABS Group will not only revolutionize the real estate sector by solving the problems of traditional timeshare and fractionating real estate, but will also revolutionize the blockchain industry in the near future. To learn more about the Kunang Kunang or LABS Group themselves, subscribe to their social media channels listed below.

follow the auction and connect your wallet to the Refinable marketplace to join!

About LABS Group

LABS is a blockchain and community based digital real estate investment ecosystem. The ecosystem, which aims to redefine the real estate investment sector, includes a crowdfunding and trading platform, a collateralized lending platform, and resort and hotel NFT reward solutions. Using the LABS platform, developers can easily tokenize and split their properties, allowing them to sell or exchange them.

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