Recapitulation of LABS GROUP PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Monday, 5th July, 2021
Time: 14:00 UTC
The LABS GROUP PROJECT team was represented by https://t.me/Yuen_Wong_LABS who judiciously shared with us detailed knowledge and information about LABS GROUP PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on LABS?
ANS: My name is Yuen, and I'm the founder and CEO of LABS Group, which is a digitised real estate investment ecosystem powered by blockchain.
My background has always been in blockchain and real estate, and that’s why I’m doing this great project with a great team!
Prior to launching LABS, I was Managing Partner for a UK property company and I'm still involved at times in Bitmart exchange as a managing partner doing project collaboration and helping them on listing.
This allows me to learn what makes or breaks a blockchain project.
The LABS team is a well balanced team full of professionals from both blockchain and the real estate world.
For example, our chairman is from the renowned Harilela familyin Hong Kong which privately owns 19 hotels.
And we have a amazing tech team.
Q2: Can you introduce LABS, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Sure
LABS is a Digitised Real Estate Investment Ecosystem powered by blockchain and community.
LABS' 3 Prong Strategies:
1. Crowdfunding and Trading Platform
2. Collaterised Lending Platform
3. NFT with rewards solution on Resorts and Hotels
LABS redefines the real estate investment world by resolving the pain points including illiquidity and high entry costs.
And we want to bring real estate investment deals directly to everyday investors.
Hence the first project we are introducing this mid July is actually bringing resort investment deal directly to everyday investors including you and me.
Never before this is possible.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: As mentioned,, we are introducing the world's first community powered and owned NFT fractionalised Resort this mid July.
Please follow us here to find out more:
https://gravityresortskk.labsgroup.io/
And we are also building a Defi collaterised lending platform so that we allow the NFT holders to stake their NFT and borrow against them, to achieve financial leveraging like the professional, real estate investors.
We all know how the old rich got rich, that is, get involved in real estate and leverage against them.
We want to make it possible for our backers, except in a better and more efficient way.
Currently we are discussing and planning for more projects in other regions. Including Thailand, Japan, Cambodia and even in Africa.
You mentioned your upcoming NFT resorts earlier. Can you elaborate on this?
Yes certainly. Again, first thing to do is to visit:
https://gravityresortskk.labsgroup.io/
Then next, please kindly spend the next two minutes in watching this:
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: Sure. Follow us here and you will be able to see our suite of amazing partnerships:
But let me highlight some here:
Enjin: the largest NFT project out there on ethereum
Polygon: our scalability solution partner
DeCredit: our collaterised lending solution partner
Gravity Resorts: our strategic partner for our first resort project and more to come together with them
GCA and Xin Group, both in properties and both are listed companies, one on Hong Kong exchange and one on NYSE
Let's hear from the Gravity Resorts CEO as well:
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $LABS Token?
ANS: Yes certainly.
LABS TOKEN MODEL:
LABS tokens are Ecosystem tokens (Utility tokens) with our special G.A.I.N.S. model :
G.A.I.N.S model:
...Governance
Our token holders can vote on important matters of interests.
...Access
LABS token holders can get early access to real estate projects that the ecosystem introduces.
...Incentives
LABS token holders can get incentives should they decide to get involved in our projects on our ecosystem.
...Nomination
LABS token holders can nominate projects they wish to be launched on our platforms and be rewarded.
...Staking (for rewards)
LABS token holders can stake the tokens to get rewards. LABS will use its governed 80 percent profit generated by the LABS ecosystem to buy back LABS tokens from the open market in a quarterly manner, and distribute to the staking pool in accordance to the size and days staked in the pool.
By buying back from open markets with the ecosystem profits, the token price would be boosted and holders will be rewarded when the ecosystem gets even bigger traction.
This unique mechanism will address the needs of short term investors and mid long terms holders.
Currently the LABS tokens are listed on Gate, Bitmart, Kucoin and of coz uniswap.
2nd Segment: LIVE Questions
Q1: In terms of real estate market swap, is it possible for owners of assets in different countries to swap their assets. How will the legal procedure be handled.
https://twitter.com/Nnadikingsley10/status/1412034375085068289?s=19
ANS: For the resort NFT, LABS call it RTS (Rewarding Timeshare) NFT, in which we give rewards to the NFT holders, including profit sharing and also staying rights in accordance to the specific day NFT which they hold.
We fractionalise the entire resort with 365 NFT with each representing one day of the calendar and collectively represent the 100 percent profit share (The rights will be visit valid for 30 years)
LABS will allow the NFT to be swapped on the days, and later on locations when we launch more projects.
For example, if you hold a Bali Resort NFT you could swap for a Phuket one.
Q2: With the LABS concept and solutions, users can now invest in resorts and hotels worldwide without much issues. But I saw something about the Marketplace to purchase Fractional Property. Can you tell us more about it and how it will benefit users and the LABS ecosystem?
https://twitter.com/KurangaHA/status/1411786337028562953?s=19
ANS: LABS will issue 365 NFT for pure coming Kunang Kunang resort project which is in Indonesia, a glamping concept boutique resort.
Hence it is fractionalised on that sense, since each NFT represent a smaller share of the entire resort which otherwise won't be able to be affordable for most.
Not only that, becuz they see NFT, we can design special rewards and incentives onto each one of them and be fully trackable.
Lastly, LABS have done all the due diligence and legal compliance on the resort part so that one just have to consider the risk and returns part. Yes, we make cross border investment as easy as ABC.
That's the beauty of it.
Q3: Only 3 locations where mentioned on your roadmap, the UK, us and China. Is LABS a global platform or it is only meant to operate in those 3 countries?
What do u think of the African real estate market? Do you have plans of extending and reaching out to the African real estate market?
https://twitter.com/stephen_sake/status/1411616026098384897?s=19
ANS: With the Resort NFT business model, LABS will focus projects in interesting areas that would bring high yields.
And due to our network and proximity, South East Asia and East Asia are first focus markets.
However today we were approached by a Zimbabwe project with a Safari theme and it is a World Heritage site. Certainly interesting.
For investors we target worldwide and want to encourage financial inclusion.
Q4: How did the LABS team come up with the idea to create a solution for the Timeshare industry using NFT technology? Could you tell us about the benefits of this model you created for crypto users and non-crypto investors?
https://twitter.com/Coin_Travolta/status/1412043812646567936?s=20
ANS: Please see the following infographic.
We came up with this idea becuz we understand both the market and what blockchain and NFT could do:)
https://t.me/amaloversclub/271915
Photo from Yuen...
Q5: The RTS-NFT project presented by LABS is really a very different and creative project. So why did you choose Kunang Kunang as the first place for this project, are you sure it is the best alternative to start with?
https://twitter.com/CryptoNeco/status/1412044417519607817?s=20
ANS: Yes, simply becuz it is the right sized project for being the first, and that we (LABS and Gravity Resorts) share the same vision and want to disrupt the resort investment and timeshare sector.
Furthermore, now is the best timing to talk to real estate developers due to the current special situation.
Others see crisis, we see opportunities.
Q6: Kindly clarify/explain the major difference between LABS RED funds and other funds on Lab platform? What is the importance of Lab red in the strategic operation and for the operation platform? Personally I think it is indispensable and vital, do you agree with me ? What importance is Labs Red in NFTs on Lab platform ?
https://twitter.com/talk2fatty01/status/1412042216378273796?s=19
ANS: I'm glad you asked. The LABS RED Fund stands for Real Estate Digitisation Fund.
It is a fund that we set up to facilitate the acquisition of the resort and doing the legal compliance and due diligence.
Also on managing, launching and administering the NFT auction campaign on our RTS NFT on the 15th July.
You can find more info here:
http://contributors.labsgroup.io
This way we make the resort a community powered and owned one.
Q7: LABS Group has officially launched the world’s first community-owned NFT resort, revolutionizing the world of NFTs. Where we can buy the RTS-NFT and what i need to buy the NFT? ETH or BNB or anything else?
https://twitter.com/loki0255/status/1412052992824537095?s=19
ANS: LABS RTS (Rewarding Timeshare) NFTs, all 365 of them, will be auctioned off on Refinable, a Binance invested NFT marketplace.
As our NFT is backed by the profit sharing of the resort for the rewards, and we are auctioning them based on the property valuation at costs, the value has to be pegged to USD stable coins.
We are lucky that Refinable is willing to work on that with us.
So stay tuned, and remember it is 15th July😊
Q8: real estate investment is a major market and have big companies and banks in it how LABS gonna contest that another problem that alot of people not into crypto world because of risk what LABS will do about that.
https://mobile.twitter.com/AnimoOpl/status/1412044896953905157
ANS: Yes and that's why the LABS team is the team to do it, because we understand both real estate and blockchain and we know how to create a hybrid best model out of it to create the synergy.
We are firstly blockchain then real estate.
It is just like Wal-Mart could never come out better than Amazon when it comes to ecommerce.
However, there is stl a gap here that crypto investors are less interested in real estate investment since the returns are not that high comparably.
However, part of our task is to remind that one needs to have a balanced investment portfolio and that risk and return is always in proportional dimension.
Thank you all and LABS Group look forward to you supporting our vision is bringing direct resort and hotel investment and enjoyment deals to everyone.
And together we can make this world a fairer place, at least the investment world.
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https://t.me/amaloversclub/271928
https://t.me/amaloversclub/271931
https://twitter.com/labsgroupio
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