A boutique resort in Indonesia has auctioned NFTs for hotel perks on the Binance Smart Chain-based NFT marketplace Refinable.
LABS Group, a blockchain property investment platform, raised $3,650,000 for Kunang Kunang Resort with NFTs.
Kunang Kunang Glamping Resort is the world’s first-ever community-owned project fractionalized into Rewarding Timeshare (RTS) NFTs.
The NFTs transform the way investors build their diversified portfolio, with access to diverse assets, low transaction costs and the ability to trade 24/7.
The auction of the NFT supplied 1095 RTS-NFTs, with each day of the calendar year represented by 3 RTS-NFTs.
Interested parties will be able to purchase RTS-NFTs with lower entry barriers and a wealth of benefits.
By fractionalizing Kunang Kunang Resort, LABS Group makes resort and hotel investment available for everyone. As quoted by Yuen Wong, the CEO of LABS Group:
“LABS is a digitised real estate investment ecosystem powered by blockchain. With that, we make real estate investment possible for everyday investors. We could bring deals directly to everyday investors, cutting out the middlemen to bring extra value. Furthermore, LABS has made cross-border real estate investment easy, and has carried out all the due diligence for our investors.”
The RTS-NFT Auction
Kunang Kunang project’s newly revamped auction commenced from July 26th, 2021. Bidders can participate through two methods: the auction or an immediate purchase.
The auction lasted for 7 days starting from July 26th. Interested bidders can bid for their desired RTS-NFTs at the Refinable Marketplace, where 365 RTS-NFTs will be available at the starting price of $3333 USDT.
The NFTs are now purchasable on Refinable.
730 RTS-NFTs will be reserved for immediate purchase from July 26th 1PM UTC onwards with a starting price of $3999 USDT. Seasonal prices could vary however, as RTS-NFTs from July to September are fixed at $4333 USDT while RTS-NFTs that fall on special days are fixed at $4666 USDT.
RTS-NFT Benefits and Rewards
RTS-NFT owners are entitled to a miscellany of benefits. This includes 30 years of staying rights, freedom to swap, trade and more. Additionally, the first 100 bidders can win a 200 USDT rebate by placing any first bid on the RTS-NFT auction.
All RTS-NFT holders also receive a special NFT holder privileges package during their stay at the resort on their RTS-NFT date, including:
- Limousine transport to Kunang Kunang Resort
- In-room welcome treats
- Set Breakfast for two
- 50% off on any onsite consumption
- 20% off on any off-site consumption (i.e. excursion, local tours)
Upcoming Pipeline and Development Plan
Kunang Kunang Resort is in preparation for its opening in February.
LABS Group will also continue to move forward with plans to expand their real estate business with more resorts globally, this includes prospective plans in Thailand, Cambodia, Indonesia, and Japan. With determination to spread their success globally, LABS Group will be a spectacle to behold in the coming years.