LABS CEO Q&A Series — What is GEMS and how is it related to LABS?
Hello LABS Community,
Over the past few weeks, we have received tons of questions from you regarding LABS’ current projects and future plans. Thank you for your long-term support. In this series, we will have our CEO Yuen to answer your questions.
Today’s Question is: What is GEMS and how is it related to LABS?
If you have been following LABS latest updates and Yuen’s twitter, you may have seen Yuen promoting the GEMS project. So what is this GEMS project? Why is Yuen creating a new token? Most importantly, how is this related to the LABS Community?
What is GEMS?
GEMS is basically STEAM plus GUILD in an integrated O2O economy. It is an Esports 3.0 aggregator platform within an O2O ecosystem. It propels Esports into 3.0 by integrating Gamefi, Metaverse and Socialfi elements, and leverages on its founding partners’ chain of Esports hotels.
GEMS Core Business Pillars
GEMS core business pillars include a portal, a NFT rental library, a Fanfi studio and a competitive pools arena. This is what $GEMS tokens are for:
- GEMS Portal
$GEMS tokens is an entryway for an all-in-one GameFi destination — GEMS. You can use $GEMS tokens to get VIP/ subscription access, and even discounts on NFTs!
- GEMS NFT Rental Library
The GEMS team is now liaising with different GameFi partners to build an ultimate NFT library featuring rare and exclusive NFTs from them.
- What’s more? GEMS is revolutionizing the DeFi solution by introducing multiple NFT payment solutions, such as rental and subscriptions. The goal is to allow players to access and level up with rare, expensive GameFi NFTs with a lower price point. All income generated will contribute back to the GEMS ecosystem.
- GEMS FanFi Studio — Talent Cradle
With a vision to nurture and groom future Play-to-earn streamers and GameFi talents, GEMS will issue fans tokens to influencers, allowing them to power fan experience and incentivize them for their hard work.
- GEMS P2E Arena — Battle Pools
GEMS users can support their favourite teams in tournaments by participating in GEMS P2E Arena Battle Pools.
*HINT* Early supporters and fans could get early access to the NFT Rental Library and P2E Arena Battle Pools by holding $GEMS tokens, not to mention discounts and special offers — so don’t miss out!
How is it related to LABS?
In short, part of the GEMS fund allocation will be used to support all GEMS Ecosystem partners; where the other part of it will be set as a Liquidity pool for LABS. The more liquidity the pool has, the more benefits the LABS community gets. The liquidity pool will be locked up to 1 year so that it can be of benefit to all $LABS tokens users.
If GEMS gets huge, it will propel LABS in the future Esports hotel business.
Stay tuned with LABS and join us on this exciting project!
About LABS Group
LABS Group is a digital investment platform that provides access to fractionalized property ownership and enables the continuous trading of real estate assets-backed tokenized shares on a regulated security exchange.
LABS Group’s platform uses blockchain technology and smart contracts to ensure complete transparency over a borderless ecosystem where property developers and investors can interact seamlessly and with unprecedented efficiency.
Real estate and blockchain professionals have brought together their expertise to devise an ecosystem of services that make property investment more accessible, more secure, and more liquid.
For more information on LABS Group, feel free to follow our socials below:
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