LABS Group is Forming a Joint Venture with Arena Esports Hotel to Tokenize eSports Hotels in Singapore & SEA
With the mission of bringing fun and secure real estate investment opportunities to the blockchain world, and making investments available for everyone, LABS is thrilled to announce a joint venture partnership with Arena Esport Hotel. We believe this union will strengthen the value proposition of both parties, and bring new investment opportunities for financial professionals eager to invest in novel projects.
Update 1: MOU Signed with Arena Esports
LABS Group has just signed off the memorandum of understanding (MOU) with Arena Esports Hotel. We will go in as an equal partner of Arena Esports Hotel, tokenizing hotels and hostels projects into asset-backed tokens utilizing blockchain technology. The joint venture aims to create a series of novel travel accommodations, with one of the projects confirmed to be at Bugis, a prime location in Singapore.
Tracy Sheriden Tan, the Executive Director and Chairwoman of Arena Esports Hotel expressed her confidence towards this partnership. “In the near future, blockchain will be an inevitable element in our life and permeate a wide range of businesses, including real estate. Arena Esports Hotel as a development company is happy to take the first step into bringing real estate investment and esports together, providing investment opportunities to everyone.”
Yuen Wong, CEO of LABS Group signing off the MOU with Tracy Sheriden Tan, the Executive Director and Chairwoman of Arena Esports hotel.
Update 2: Yuen’s Singapore Visit
With a strong attraction to this project, and to make sure the investment is safe and secure, Yuen purposefully traveled to Singapore to do a due diligence visit. He met Arena E-Sports Founders and the team, and visited potential project locations, and believes that it is a project with great potential and would add a compound to the real estate investment, “We’re bringing a large real estate firm into the LABS ecosystem thanks to this joint venture. With this, the real estate investing business is one step closer to a future free of financial, economic, and social restrictions that prevent people from holding stakes in real estate investments. We are happy to work with Arena Esports Hotel to join esports tourism and take real estate to newer heights.” Yuen Wong, CEO of LABS Group, said.
Photos were taken by Yuen Wong, CEO of LABS Group during his site visit in Singapore.
Update 3: About the Upcoming Project
In Q4, we are going to launch a new hospitality investment project on our crowdfunding platform. It is Singapore’s first eSports theme hotel VR facilities spanning 25,000 sqft. The vision is to create a coworking, co-playing, and co-living habitat that fosters and caters to a communal atmosphere to fulfill the needs of a modern travel experience. Situated in Bugis Village, a prime shopping and tourist destination in Singapore, the ESports hotel is equipped with professional gaming gears, an AI Robotic Room Service system, and self-sustainable energy panels. Together with Arena Esports, the team is also exploring the possibilities to accept cryptocurrencies and develop NFT play to earn.
Update 4: LABS’s Take on the Project
The tokenization of real-estate assets is seen by many as the next frontier for the real estate and DeFi scene. On the other hand, according to Newzoo’s report, the eSports industry’s global market revenue was forecast to grow to as much as 1.62 billion U.S. dollars in 2024.
With the Singapore government setting its sights on becoming a world force in Esports and the huge potential growth in both E-Sports and Blockchain industry, LABS believed that this project would have great potential, and the joint venture is expected to bring both parties massive opportunities.
LABS product team has made great progress in the crowdfunding platform development, making this investment project incredibly exciting as investors will be able to participate with as little as 100 USDT. This new model will open the doors of real-estate investment for everyone.
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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:
About Arena Esports Hotel
ARENA eSports is a global leader franchise for esports hotels, hostels, and serviced residences. Embracing the global esports trend and pioneering the unique blend of gaming arena and hospitality in South East Asia, ARENA eSports is on a mission to promote e-sports and create a space catering to a modern audience wanting to experience the excitement of the esports world and Singapore’s culture. The team has more than 13 years of experience in the hospitality industry, managing the largest capsule hostel chain, as well as opening various entertainment lifestyle clubs in Singapore’s prime locations.
For more information on Arena Esports Hotel, feel free to follow their socials below: