TL; DR
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There is a startup named Everlodge.io that wants to become ‘the web3 version of Airbnb’.
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Everlodge doesn’t really plan to provide lodging for consumers; the company is more focused on lowering the barrier to entry for people looking to invest in holiday rentals.
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NFTs make sense because there is already an established global market for them, and when it comes to blockchain technology, NFTs don’t. Real face regulatory oversight.
Full story
There is a startup named Everlodge.io that wants to become ‘the web3 version of Airbnb’.
Our first reaction: that’s cool!
Our second response: …ok, but why do we need a ‘web3 version’ of Airbnb?
Short answer is: we do not.
But Everlodge doesn’t really plan to provide lodging for consumers; the company is more focused on lowering the barrier to entry for people looking to invest in holiday rentals.
The idea is this:
If you want to build a portfolio of vacation rental properties that are rented through Airbnb, it’s going to take quite a bit of change (prime real estate in vacation cities doesn’t come cheap).
Everlodge wants:
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Collaborate with existing hotels and high-quality villa rental companies
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List part (or all) of selected properties for sale
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Fractionalize that sale using NFTs
What does that look like?
Supposing a beachfront villa in Bali is listed at $2.5 million, that value would be broken down and divided among 25,000 NFTs, each selling for $100.
This means that if you want to be able to invest in a beachfront vacation rental in Bali, your buy-in just dropped from $2,500,000 to $100.
Ok but why blockchain technology – why NFTs?
Probably because there is already an established global marketplace for NFTs, and as far as blockchain technology is concerned, NFTs don’t. Real face regulatory oversight.
(And building an equivalent technological infrastructure that meets all these requirements would be one hell of a task).
All in all, the approach Everlodge is taking here?
It’s not the worst we’ve ever seen.
