LABS enters the NFT market

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The LABS Group, the first end-to-end crowdfunding service in the blockchain and real estate industry, has launched the world’s first community-operated and proprietary resort – the Kunang Kunang Glamping Resort. The LABS Group has divided the entire resort into 365 Rewarding Timeshare (RTS) NFTs and offers successful bidders benefits that have never been seen before in the traditional timeshare market. The RTS-NFTs will be sold from July 15, 2021 at 1:00 p.m. UTC via an auction on the Refinable NFT Marketplace.

Project introduction video

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

How to join

The auction starts from July 15th at 1pm (UTC) through July 28th.

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

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

In particular, the auction offers the top 3 highest bidders and the highest bidder a one-time benefit of naming rights for resort rooms each month. In addition, there is a separate NFT that gives the winner the right to name the resort, which includes 10 free 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. With the applicability of NFTs to the real estate industry, RTS-NFT enables resort investments for everyday investors. Each RTS-NFT represents 1/365 of the total profit share, with holders enjoying their token rights for 30 years.

These token rights are designed to combat certain issues that have arisen with the traditional timeshare market by providing various advantages, such as:

  • Income Backed Awards – Actual Income Backed Awards of the property generated from resort operations are shared among RTS-NFT owners. The projected return on investment is 10-15% per year, which means investors could break even in year 7. There is also a guaranteed minimum return of 10% per year for the first 2 years based on the nominal price.
  • Right of Residence – RTS-NFT represents a specific day in the calendar and the corresponding right of residence (on that day) based on the best available room with a penalty clause to compensate for unavailability for whatever reason.
  • Commercial Law – NFTs would be tradable on marketplaces based on Binance Smart Chain (BSC) and Ethereum.
  • Swap rights – RTS-NFT holders could later swap the days, the incentive point and the location (of other resorts) either with each other, on the marketplace or within the LABS ecosystem.
  • Right to vote – Integrated voting content (80% +) for important operational decisions (if applicable), such as B. Selling the resort at a high value.

By tokenizing and fractionating the property, RTS-NFT enables better access to investments and removes the barrier of a high minimum investment. Anyone will be able to invest in fractional stocks in real estate products around the world.

What is Kunang Kunang?

Kunang Kunang, named after “firefly” in Indonesian, is the first community-owned glamping resort and the first RTS-NFT on the Binance Smart Chain. It sits at 6,800 square feet in a lush green forest surrounded by rice fields in Banyuwangi, just a 30-minute drive from Banyuwangi Airport and a 30-minute flight from Bali.

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

The development was designed by award-winning architect Willy Sandy Ekaputra to create a special wilderness atmosphere while maintaining the comfort of a home and the luxury of a hotel.

The preliminary opening will take place in December 2021, with a major opening planned for February 2022.


Further high-resolution images of the project can be seen below shortcut.


The Kunang Kunang Resort is an important first step for the LABS Group to make real estate accessible to everyone. With the project, LABS Group will not only revolutionize the real estate sector by alleviating traditional timeshare problems and fractionating real estate, but will also revolutionize the blockchain industry in the near future. To find out more about the details of Kunang Kunang or the LABS Group itself, follow the social media channels listed below.

Keep an eye on the auction and connect your wallet to the Refinable Marketplace to get involved!

About the LABS group

LABS is a digitized real estate investment ecosystem powered by blockchain and community. The ecosystem that aims to redefine the real estate investment sector includes a crowdfunding and trading platform, a secured credit platform, and NFT reward solutions for resorts and hotels. The LABS platform makes it easy for developers to tokenize and fractionate their properties so they can sell or trade.

Website: https://labsgroup.io/
Telegram: https://ift.tt/3xJy5ZN
Twitter: https://twitter.com/labsgroupio
Discord: https://ift.tt/3i62yKU
Instagram: https://ift.tt/2UbAPR6
LinkedIn: https://ift.tt/3yVnLy2

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Photo credits: Shutterstock, Pixabay, Wiki Commons

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source https://bidsfor.me/labs-enters-the-nft-market/

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