LABS Group Partners with IQ
LABS Group partners with IQ Protocol. Liquid Assets Brokerage System (LABS) is using decentralized finance and governance to create efficiencies in raising capital and creating more liquid housing markets.
LABS will utilize IQ Protocol’s NFT renting technology in two key ways.
In the first instance, IQ Protocol will be used to help customers purchase their timeshare NFTs over a longer period, instead of a single lump sum. For instance, an initial 20% would unlock the wrapped NFT with monthly payments maintaining its possession until the full amount is paid.
Secondly, each NFT will represent a certain number of days per year the holder can use a property. The holder will be able to rent out days of their timeshare to other users peer-to-peer.
Introducing blockchain technology to the real estate business is a hugely exciting prospect with huge potential.
LABS Group is a platform that onboards resorts and hotels onto the blockchain, allowing them to create and customize their own Residence Club or Timeshare programs through NFTs. These NFTs, which they call Residence Passes, are unique smart contract tokens, which represent a timeshare portion of nights and rewards. By holding on to the Residence Pass, the purchaser will receive annual rewards and perks from the resort.
LABS has two major advantages over traditional real estate businesses:
- Efficient raising of capital by tokenizing properties with blockchain technology, it’s possible to raise without financial intermediaries.
- Global Access uses blockchain for borderless investment, which means everyone can invest in real estate projects across the world.
ABOUT LABS Group
LABS Group utilizes blockchain, NFT, and Web3 tech to disrupt traditional real estate and hospitality industries. Its mission is to make real estate accessible to everyone by using Web3. Make transactions through digital assets, bridge the industry with blockchain technology, and partner with different resorts and properties globally.
ABOUT IQ Protocol
IQ Protocol is a decentralized money market for digital asset renting and on-chain subscriptions. The next money lego allows users to rent wrapped expirable versions of digital assets without collateral for their utility while allowing holders to earn by providing liquidity without risk.
