LABS — AMA Recap
CEO of LABS Group, Yuen Wong, has hosted an AMA on Youtube to provide an update regarding the recent RTS-NFT project, improvements, and upcoming plans. LABS Group has received plenty of feedback from the community regarding the event and we would like to review it with you! As of right now, all private sale round tokens have completed the unlocking process.
To tune into the AMA first hand, click here to access the full recording of the AMA. If not, here are several main points addressed by Yuen within the AMA!
Part 1: General Review
1: LABS Group’s First RTS-NFT Project Review
Yuen believed it was a mixed success. A lot of good things came out of it. It allowed LABS Group to understand the market’s needs better and how to improve in upcoming projects. The private round was also successful, demonstrating the potential of the real estate industry
2: New NFT Marketplace
LABS Group is currently building its own NFT marketplace platform as there’s no NFT marketplace that is suitable for real estate projects. It will be planned in Q3 and the launch of the marketplace will be announced soon, possibly in Q4.
3: BETA Testing for Crowdfund Platform
There will be a BETA test for a crowdfunding platform for the community to participate in with incentives, so participants can have a chance on the platform to test it out (and provide feedback).
4: Real Estate Private Equity Fund
LABS Group is working with Silverbear Capital, to form a real estate digitization fund in the near future. Our initial target for the fund is to raise 50milion US dollars and to invest in the Asia Pacific.
5: Dual Token Model
LABS Group will launch the future projects in a dual token approach — Utility Tokens and NFTs.
Normal Token (ERC-20):
- Profit-Sharing or Revenue Sharing
- Lottery System
- Yield Boost
- 100 USDT Entry Investment
- Daily Distribution
- Staying Right
(Travel package NFTs that allows you to stay for 3/5/7 days)
- VIP Welcome Package
- VIP Incentives
LABS listened to the needs of the community:
1. Making real estate investment possible at 100 USDT
2. Selling NFT cards on the NFT market to fulfill the community's needs of enjoying staying right.
6: GAINS Model & LABS Token
Yuen reinforced the benefits of the GAINS model, and the LABS team is working on creating more utilities for LABS Tokens. LABS Group listens to the community and will consider taking LABS tokens as a part of the investment in the future when the token is more mature.
Part 2: Q&A With Community
Q: When will the next project be held?
LABS Group is working with some property developers very closely. With the goal of bringing more value to our community, there will be 2–3 projects announced in September. LABS will share financial reports regularly in the future. The earliest report will be uploaded to the website on 1 Jan 2022.
Q: When and where will the staking program be held and what about any new listing on exchanges?
LABS Group is in negotiations with exchanges so more details will be released soon!
Q: Does the fund, crowdfunding platform and marketplace benefit LABS tokens?
Every part of LABS’ ecosystem will be used to distribute to LABS token holders. There will be a GP in the fund, and all holders will benefit from it. Our strategy approach is to work with real estate developers, so that LABS Group will have continuous projects.
Q: How do LABS deal with inflation?
The inflation is fixed, LABS Group will distribute the rewards quarterly from the staking pool.
Q: How do you make digital assets more attractive?
LABS Group is introducing real estate digitization to solve liquidity issues. LABS’ goal is to bring real estate investment for everyone and lower the real estate investment cost.
Q: Why are commercial property, hotels worth investing in?
Now is a good chance for us to partner with them as they are willing to listen to us. During this time, LABS Group will be able to bring you special deals and incentives previously unavailable as we cut off the middleman, providing efficiency to our community.
Q: How to get involved?
You can be involved directly or indirectly through purchasing LABS Tokens, you can also back the projects.
Q: Regarding the recent crypto hack with polynetwork attack, what are you doing to stop this from happening to the LABS crowdfunding platform?
Safety is always a priority, especially when it comes to traditional assets. LABS Group will be adding smart contracts to protect the identity of the assets. We will also integrate KYC with the help of Polygon bridge and connection to provide a safer ecosystem for our investors.
Thank you for all the community support, LABS Group is excited to share our future plans with you and reach new heights in the real estate industry. Stay tuned on our social media channels to be up to date with our new projects soon!
About LABS Group
LABS Group is a digitized real estate investment ecosystem that is powered by blockchain and the community. The ecosystem, aiming to redefine the real estate investment sector, includes a crowdfunding and trading platform, a collateralized lending platform, and NFT reward solutions on resorts and hotels. Using the LABS platform, developers can easily tokenize and fractionalize their real estate, allowing them to sell or trade it.