From LABS Club to Staynex: New name, same mission
When we first introduced Labs Club, the mission was simple: to revolutionise the traditional real estate and hospitality industry with blockchain, NFT, and Web3.
That mission is still the same.
What changed, however, is that as we were working on our idea, our brand looked less and less like who we are — and it no longer serves the vision we initially had. Additionally, the industry we’re in changes fast, and as we continued to work on our mission, we realised certain adjustments were necessary.
Focusing on Travel
Even amidst the Covid-19 pandemic, we always believed that travel will remain a huge part of everybody’s lives. The number of digital nomads are increasing, and travelling and living abroad has become the norm.
But the way the industry works has largely stayed archaic. Hotel rewards still come in the old-fashioned way of discounts and cashbacks — and visitors can’t choose how they want to spend it. Travellers have to choose between their favourite countries, because not everyone can afford to buy properties in different places.
As we’re building out the LABS Club platform, we keep asking ourselves: how do we create a product that gives the users…
- Stability of real estate operations and yield income
- The flexibility of having a “home” in every country
- The ability to purchase the “time” you need at the property
- The freedom to choose how to spend a reward
- More benefits as and when the user purchases more
Real estate tokenization can be done in a variety of ways, and after studying the industry, we’ve decided to set ourselves apart by tokenizing “stays”.
The name Staynex is not only unique as to Bonvoy with Marriott, it also has a double entendre. We want travellers, digital nomads and investors to Stay’n’Experience, Stay’n’Explore, and Stay’n’Exchange.
The Staynex platform helps villas, resorts and hotels globally to onboard the blockchain by tokenizing “stays” into NFTs.
One of the revelations of the travel industry is timeshares, where families can buy up to weeks at resorts for guaranteed vacations. After all, it’s always a novel idea to have guaranteed holidays whenever you like. Hotels then followed suit by adding membership and loyalty programs to their offerings, enticing travellers to come back again.
Of course, timeshare has its own negative drawbacks (high annual management fees, difficulties to sell, unethical players and scams), but based on multiple reports and studies, the market cap has been increasing year on year.
Staynex takes it up a notch by building a platform where onboarded hotels & resorts can create, design and mint their own Timeshare Programs — on an NFT. This allows hotels to be creative with their offerings, reduces their marketing costs and gives them direct access to customer management and bookings.
They are instantly tradable and swappable (as they are NFTs on the blockchain), and data is transparent on the blockchain.
The Future of Staynex
“With an ambitious goal to disrupt the traditional real estate and hospitality industry, certain changes and adjustments had to be made to ensure we’re on the right path,” says Bernard Lau, CEO of LABS Group. “We’re excited to share more about our plans and developments in the coming months.”
To learn more about Staynex and our Residence Pass, please visit staynex.com.