‘The Web3 Version of Airbnb’...Ok, but Why?
TL;DR
There's this startup called Everlodge.io that wants to become 'the web3 version of Airbnb.’
Everlodge isn't really looking to provide accommodation to consumers - the company is more focused on lowering the barrier to entry for those looking to invest in holiday rental properties.
NFTs makes sense because there's already a well established global marketplace for them, and as far blockchain technology goes - NFTs don't really face regulatory scrutiny.
Full Story
There's this startup called Everlodge.io that wants to become 'the web3 version of Airbnb.'
Our first reaction: that's cool!
Our second reaction: ...ok, but why do we need a 'web3 version' of Airbnb?
Short answer is: we don't.
But Everlodge isn't really looking to provide accommodation to consumers - the company is more focused on lowering the barrier to entry for those looking to invest in holiday rental properties.
The idea is this:
If you want to build a portfolio of holiday rental properties that are leased on Airbnb, it's going to require a hefty chunk of change (prime real estate in holiday towns ain't cheap).
Everlodge wants to:
Partner with existing hotels and high-end villa rental companies
Put a portion (or entirety) of select properties up for sale
Fractionalize that sale using NFTs
What does that look like?
Say a beach front villa in Bali gets listed at $2.5M - that value is then broken up and spread across 25,000 NFTs, each selling for $100.
Meaning, if you want to be able to invest in a beach front holiday rental in Bali, your buy-in just dropped from $2,500,000 to $100.
Ok, but why blockchain tech - why NFTs?
Probably because there's already a well established global marketplace for NFTs, and as far blockchain technology goes - NFTs don't really face regulatory scrutiny.
(And building an equivalent technology infrastructure that ticks all of those boxes, from scratch, would be one hell of a task).
All in all, the approach being taken here by Everlodge?
It ain't the worst we've seen.