Place/Date: - June 21st, 2021 at 12:00 pm UTC · 3 min read
Source: LABS Group
LABS Group has announced their collaboration with Refinable, the first dedicated NFT marketplace built on Binance Smart Chain. Refinable aims to create an inclusive platform for users, brands, and communities to engage with NFTs. This collaboration will enable LABS Group to incorporate its assets with Refinable’s ultra low cost, fast, and secure system.
Timeshares are one of the major marketers in the travel and hospitality industry. However, there appears to be several pain points in the traditional timeshare market. It is often hard to make appointments and they lose value over time. The holders are responsible for any damaged repairs that most likely cost them thousands of dollars, and this is excluding other special assessments of older properties.
To combat this, LABS Group launched the world’s first community owned NFT resort together with the first Rewarding Timeshare (RTS) NFT. The community-owned NFTs Resort will help aid the traditional timeshare problems present the world’s first value-backed NFT. As the adage goes, two heads are better than one. LABS Group realised that this can only be achieved through tokenizing and fractionalizing its real estate assets on Refinable’s fast, cost-effective, and simple-to-use NFT platform.
This partnership displays the recent growth of the NFT marketplace sector. It has been expanding its applicability in the industry with over $2 billion spent on non-fungible tokens during the first quarter of 2021 – an increase of about 2,100% from Q4 2020. LABS Group will incorporate Refinable’s capability in maximizing the use and applicability of NFT into various industries like financial services. This collaboration sees growth for both companies’ in the blockchain industry, with new possibilities in the near future.
LABS Group is a digital investment platform that provides access to fractionalized property ownership and enables the continuous trading of real estate assets-backed tokenized shares on a regulated security exchange.
LABS Group’s platform uses blockchain technology and smart contracts to ensure complete transparency over a borderless ecosystem where property developers and investors can interact seamlessly and with unprecedented efficiency.
Real estate and blockchain professionals have brought together their expertise to devise an ecosystem of services that make property investment more accessible, more secure, and more liquid.
Invested by Binance and Mr. Beast, Refinable is the first major NFT marketplace in BSC, empowering both individual creators and beloved brands to easily and affordably create, discover, trade and leverage NFTs. Supporting all communities in engaging with NFTs is Refinable’s mission and we look forward to empowering the next generation of digital transactions.