[AMA Recap] LABS Group X CryptoVN

LABS Group’s CEO Yuen Wong has joined together with CryptoVN to answer everyone’s burning questions! This AMA focused on introducing the LABS Group’s new innovation, the world’s first community owned NFT resort. Are you interested in the AMA but missed out on it? LABS Group’s got you covered!

Date: June 16, 2021
Time: 12:00 PM (UTC)
Guest: Yuen Wong (LABS Group CEO)

The ama session will have 3 parts:
Part 1: Introduction/Questions from CryptoVN Team
Part 2: Answering questions from Twitter
Part 3: Live AMA

Introducing the world’s first community owned NFT resort

PART 1: Introduction/Questions from CryptoVN Team


Q1: Can you introduce yourself and LABS Group?

Yuen Wong — CEO at LABS Group:

Yes, sure.

I’m them and I’m the CEO of LABS Group.

LABS is a Real Estate Investment Ecosystem utilising NFT and Defi to serve everyday investors.

LABS uses a 3 prong strategy, one is crowdfunding with a trading platform, the other is collateralised lending platform, and lastly, we have the NFT on real estate, particularly resorts and hotels.

LABS has been listed on Kucoin, Bitmart, Gate, and Uniswap.

And we have several partnerships with Enjin, Polygon, XIN Group, Refinable and others.


Q2: Can you tell the community some of the LABS Group's achievements?

Yuen Wong — CEO at LABS Group:

Well, apart from successfully completing our fundraise and exchange listings, LABS group is launching the first-ever community-powered and owned NFT fractionalized Resort in the coming month.

Let me show you all some nice pictures of the resort here:

Then the entire resort will be fractionalised into 365 NFT and put on auction with Refinable, starting at cost price.

The NFT, named LABS RTS (Rewarding Timeshare) NFT, collectively represents 100% of the resort’s profit share and will include many incentives and rights, such as staying right on specific days of the year for 30 years.

All these will be put up for auctions in July.

This is the first time everyday investors can invest directly into a resort that will be community-owned.

Through the use of blockchain and NFT technology, we are able to resolve all the pain points of traditional timeshare and disrupt this sector totally.

RTS NFT projects are the most important projects for LABS in June and July.

Once proven successful, LABS Group will duplicate the model and start to go fast and furious on other resorts and hotels in the region, especially in SEA.

Hopefully, we can have something in Vietnam as well, as I have heard so many good things about the Vietnam real estate market.

Profile of our community-powered and owned NFT fractionalized Resort.

Really nice concept and design. Will be completed at the end of this year with an official opening in Feb 2022.

PART 2: Answering questions from Twitter

1. LABS is the first NFT real estate platform. What potentials do you see in NFT real estate and how do you explore and exploit it? What is your vision in this industry? Can LABS lead the industry?- @Shindz3

Yuen Wong — CEO at LABS Group:

As NFT is unique and each is its own, certain unique features and or storage of value can be designed.

This can be used to innovate the sector and change the way things are done in a better and more efficient way.

LABS intends to use this technology to change the way people invest in real estate such as serviced apartments, resorts and hotels.

And with this we could bring deals directly to everyday investors, cutting out the middlemen to bring extra value.

Furthermore, LABS has made cross-border real estate investment easy, having fine all the due diligence on behalf.

Hassle free, easy as ABC investment with derived extra values.

2. What are your top 3 priorities for 2021? Can LABS share some of your plans for the coming year as well as your token development plan and strong community so that people can have a good look at your project?-@Pandora_VN

Yuen Wong — CEO at LABS Group:

3 top priorities:

  1. Complete the world’s first community powered and owned NFT fractionalised Resort successfully, and allow all to see the beauty of such greeting breaking concepts.
  2. Complete our collateralized lending platform.
  3. Go successful full launch with our Polygon integration crowdfunding site and launch it with interesting deals.

3. Everyone knows, if you want to go fast, go alone, but if you want to go far, you go with your partners, so with Your Project which partners will promote and help Your Project reach and achieve the project’s goals?-@BENSTOCK26

Yuen Wong — CEO at LABS Group:

Yes, partnerships are very important and we LABS consider them critical in our success.

Hence we have Enjin the largest NFT project out there on ethereum as a partner in NFT, Polygon as our scaling solution provider for our platform, Refinable as our Binance smart chain NFT issuer and marketplace.

And also DeCredit building with us together in our collateralized lending platform, DragonBite providing loyalty points for our RTS NFT program.

And since LABS is a unique hybrid play, we also have traditional partners such as GCA who guide us in due diligence on property deals.

Last but not least, our resort developer and manager partner for our first and many More coming deals, Gravity Resorts.

All these partners will help to ensure that LABS will be a successful real estate investment ecosystem powered by blockchain.

PART 3: Live AMA

1. So many Rug Pulls are happening nowadays. and almost 90% of projects with anonymous teams do rug pulled. How can we be sure that You are not like them and we can invest in your project safely?- @noone127001

Yuen Wong — CEO at LABS Group:

Please take a closer look at our team members.

Besides the fact that I’m a managing partner of Bitmart exchange, I am also a director of a US public company.

And I have founded LABS Group since 2018.

LABS Group is chaired by Mr Mahesh Harilela, a member of the renowned Harilela family in Hong Kong, which owns a total of 19 hotels.

So…you judge yourself

2. Do you have any plans to add Nft’s to your ecosystem as this is the hottest topic in the crypto space?- @shohan1244

Yuen Wong — CEO at LABS Group:

Please take a look at my previous answers and highlights. They are all on LABS’ coming NFT project.

Btw, I want to use this chance to offer some incentives to this supportive community which has supported LABS right from the start.

I’m happy to have my team explained in detail if need be.

3. As an individual user ,In what ways can I contribute to the development of LABS? Do you have Ambassador programs and what are its benefits?- @Stevensas

Yuen Wong — CEO at LABS Group:

Yes we do. We believe that LABS should be community-powered and owned, and hence our first NFT project is just that:

The world’s first community-powered and owned NFT fractionalised Resort.

See the above diagram..We are encouraging the communities to help promote LABS projects that everyday investors including you,b you, you, and I can participate in.

4. In decentralization, We all know that speed is needed, as is the current problem faced by the expensive Eth Gas Fee and the slowing of the transaction process. What are your plans to deal with this problem on LABS? -@zamnfa

Yuen Wong — CEO at LABS Group:

Well, our answer:


Aka Matic network

5. Do the token holders have the right to participate in the governance of the project? On what kind of decisions can they vote on the project? -@MichaelePotts

Yuen Wong — CEO at LABS Group:

Yes. Our GAINS model, the G stands for governance.

We will let the community decide on major decisions even on projects.

For example, in our coming NFT resort (Kunang Kunang in Indonesia), the community or holders can decide if they want to sell the resort if a really good offer comes in as a chance for them to liquidate and make good money.

Ok, guys, that’s all for tonight.

With your support, LABS will be a successful real estate investment ecosystem powered by blockchain.

Further information:

About LABS Group

LABS is a blockchain-based real estate investment platform looking to simplify investor access and capabilities within the asset class. Using the LABS platform, anyone can easily tokenize and fractionalize their real estate, allowing them to sell or trade it in order to gain instant liquidity. LABS Group also offers a regulated securities market for tokenized real estate trading, a crowdfunding platform, and a lending application that allows for peer-to-peer lending based on the collateralization of tokenized real estate assets. LABS Group is redefining the real estate industry, making it more accessible to everyone.

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LABS Group

LABS Group utilizes blockchain, NFT and Web3 tech to disrupt traditional real estate and hospitality industry. Other Social Links: twitter.com/r/LabsGroupio/