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, bidders must first read the details on LABS Group’s project site. The Refinable marketplace allows potential bidders to search for “LABS Group” and then place a bid on the property.

The auction will give the 3 highest bidders each month and the top bidder every month a one-time benefit to resort room 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. RTS-NFT allows everyday investors to invest in resorts by making NFTs available for the real estate sector. 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 property, RTS–NFT makes investments more accessible. This eliminates the need for a minimum investment. You can invest in real estate products around the world 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 was designed by Willy Sandy Ekaputra, an award-winning architect. It creates a unique wilderness atmosphere, while still offering all the comforts 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. LABS Group’s project will revolutionize real estate by removing timeshare issues and fractionalizing property. It also promises to revolutionize blockchain technology in the near future. Follow the social media channels below to learn more about Kunang Kunang and LABS Group.

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. This ecosystem aims to redefine real estate investing. It includes a Crowdfunding and trading platform, a Collateralized Lending Platform and NFT rewards solutions for Resorts and Hotels. Developers can tokenize and fractionally manage their real estate using the LABS platform. This allows them to sell it 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/

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