Own a Piece of Luxury with Innovative Labs Group NFTs

Earlier in the year we reported on Labs Group and their revolutionary use of the NFT, linking real world properties to the blockchain. Now, they are ready for their first auction, a share in a luxury resort in the heart of Indonesia.

In an innovative display of NFT versatility, Labs Group is turning the real-estate industry on its head. In essence, they are committing real-estate to the blockchain. Then, via the utility of fractionalization, offering shares of that property for sale in a series of online auctions.

The first project of their fascinating new endeavour is a “glamping” resort in Indonesia, a stones throw from the infamous holiday destination, Bali. Labs Group has fractionalized the resort into 365 tokens, each of which will be auctioned in a public sale.

The auction will take place on Refinable’s NFT marketplace, commencing on July 15 and running for 13 days. Winners will then be eligible for a whole host of resort ownership benefits, including a 1/365 share in profits.

The resort is now close to completion, scheduled for a soft opening in December 2021, ahead of a grand opening in February 2022. Let’s all hope the tourism industry has sufficiently recovered by then.

Just in case you were wondering, glamping is a compound of “glamorous” and “camping,” so, fancy tents.

Visit the Labs Group auction >> Here

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Leave a comment

Calculators

LIVE Prices for all cryptocurrencies related to Decentraland, Somnium Space and Cryptovoxels.

Ethereum

Decentraland MANA

Somnium Cubes

Newsletter

Stay up to date with our weekly roundup of independent news

Discord

Join in live community chat & all updates as they happen