LABS Group and Enjin Partner to Democratize Real Estate Industry with NFT Property
Talent wins games, but intelligence and teamwork wins championships. The partnership between LABS and blockchain ecosystem developer Enjin will transform the real estate industry and make the world’s largest asset class accessible to everyone through the tokenization of fractionalized real estate assets.
ENJIN
Enjin has been in the gaming scene for a while, growing to support 20 million users across 250,000 gaming communities via their first product, the Enjin Network. Enjin has been considered “the friendly neighborhood spiderman of gamers” since 2009, enabling game developers to easily create websites, guides, forums, and other necessary tools for an effective gaming community.
2017 was the year Enjin decided to bring their technology into the blockchain space, providing an avenue for developers, businesses, and individuals to create next-generation blockchain assets, notably non-fungible tokens (NFTs) that can be used across multiple games, apps, and projects. Enjin’s ecosystem removes the complexities of utilizing blockchain, enabling anyone to develop, trade, monetize, and market with the technology.
THE SYNERGY
With the rapid growth of technology and the creation of virtual worlds, LABS deemed it necessary to utilize the benefits made available by Enjin in creating a digital reality with real-world value.
Enjin’s technology will enable LABS to create fractionalized NFT Property Assets, which are freely tradable and easily accessible, allowing people to invest in real estate for as little as US $100.
Tokenized property assets could represent fractions of single apartment units, hotel rooms, or even entire buildings. This would represent a real world use and sustainable value for NFTs to represent the world’s largest asset class, valued at 228 trillion USD, and will make it accessible to everyone — not just wealthy investors and institutions.
These tokenized property titles, minted as NFTs via the Enjin Platform, will significantly lower the barrier to entry for investing into high-yield properties like hotels and apartments and allow approved property developers to crowdfund through a wide network of retail investors.
“Blockchain has proven that everyday people are searching for opportunities to put their money into assets that grow in value. The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It’s only a matter of time before real estate is tokenized. Together with LABS, we can be among the first movers to disrupt one of the world’s oldest markets.” — Maxim Blagov, Enjin CEO
Due to the fact that Enjin operates on a single registry smart contract, any item added to the blockchain will be easily recognized by every Enjin Wallet, an app used to store and manage the assets created by LABS, and allowing these NFTs to be easily transferred.
Blockchain technology is transparent, with Enjin’s blockchain explorer giving LABS investors access to identify and verify NFT ownership, uniqueness, origin, and authenticity. Investors can also view mints, transfers, and holders, creating a whole new aspect of transparency which is lacking in the traditional real estate industry.
CONCLUSION
Both platforms have track records that are immensely beneficial to their respective existence, offering real-world values that will enable them to scale through the blockchain industry. LABS bringing its assets to an overwhelming community that Enjin has is visionary and will stimulate its growth to an exponential level. Enjin and LABS are both committed to the growth and development of the blockchain industry, satisfying the missing needs of their respective sectors.
To learn more about Enjin, check out their community and social channels below:
Website | Telegram | Twitter | Discord | YouTube | Blog
About LABS:
LABS 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 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, feel free to follow the socials below:
