I’ve been a hodler of MAYC #5349 & #4558 since October 2021, only sold 1k $APE from the airdrop and have been max staked since the beginning. I’m super thankful for what the community has built and the amazing work Yuga is doing. Although I don’t engage more than liking tweets, I’m always paying attention to what’s going on.
I wanted to get feedback and see if you guys think our project might be a good fit for the ApeCoin community.
We’ve been looking into tokenization of real estate since the end of last year. Although the use case itself might be one of the oldest pitches in the space, we think that with the development of the last cycle, the market and technology are at a point where the business case can happen. The model is slowly gaining traction, with several companies starting to issue and fractionalize properties at a higher speed.
As for this, we want to build a real estate tokenization platform that enables the issuance of properties as NFT collections. Each piece of a collection will represent a fraction of the economic rights of a property, allowing holders to receive rental distribution and the right to the underlying value when the property is sold.
In terms of differentiation, we think that the current options in the market, although gaining traction, are tackling the opportunity with an old approach, doing traditional properties and utilizing old token structures. Our strategy is to target the short-term stay segment in developing markets where real estate is witnessing high growth, and combining the collectibles of the properties with the NFT experience that attracted so many consumers during the last cycle.
We are thinking for our offering to be; Villas in Bali, Rooftops in KL, Apartments in Rio, or some high-end floors in Dubai, overall looking for outstanding properties for daily rental operations… Also in our radar as an additional perk, holders could stay at any of the properties that have been issued through the platform at a discounted rate. Still need to polish this last part, as ROI is based on rentals so need to keep it profitable for the holders.
In January, we acquired our first villa in Bali and have been operating it to better understand how the market works. Right now, we have acquired a second property in Bali and decided to sell it between a pool of friends. With this experience, we saw that there is interest and that to be able to grow the business, we need to build the tech and legal infrastructure to be able to market the offering.
At the moment, we are putting together a tech team and finalizing specs. We are thinking of either doing a small raise to capitalize ourselves and build or applying for a grant from a community that could be a good fit. So wanted to get your thought as a MAYC hodler thought it could be something u guys like, but super keen in any feedback.