LABS Group, the first full end to end Real Estate focused investment ecosystems announced its much-anticipated partnership with Enjin. According to the official press release shared with Altcoin Buzz, this collaboration will make real estate investment more accessible to everyone. That’s because LABS Group will fractionalize real-estate assets as NFTs for as little as $100. This tokenization of fractional shares of real-estate properties will also increase the liquidity within the global real estate market.
Currently, real estate is the largest asset class in the world and is valued at $228 trillion. However, the Investment opportunities are accessible for big Institutions and Investors primarily. Apart from increasing the accessibility to the market, the Enjin platform will also shorten the settlement periods and eliminate the middle-man expenses.
Furthermore, the tokenization will lower the barrier to entry for everyday investors to big properties like hotels, apartments, and more.
Real estate is the world's largest asset class, and our new partner believes investing in it should be accessible to all.
— Enjin (@enjin) February 2, 2021
According to Calvin NG, President of LABS Group, the goal of the partnership is to let everyday investors fractionally invest in a luxury property of their choice with just $100.
LABS Group will integrate Enjin’s minting and management ecosystem to tokenize the property titles. These property titles will be minted as NFTs by approved property owners, real estate groups, and developers. These NFTS will represent fractions of properties like apartment units, hotel rooms, or entire buildings. The owners can then trade these NFTs via the regulated LABS Security Exchange.
In addition to this, the investors can use Enjin’s wallet to store and manage these NFTs. Along with that, the users can use Enjin’s blockchain explorer to verify the ownership, uniqueness, origin, and authenticity of NFTs.
According to Enjin CEO, Maxim Blagov, real-estate offers a perfect opportunity for Enjin to tap into a very stable global market. Along with that Enjin and LABS Group will work together to disrupt one of the largest and oldest asset class.
In the last 24 hours, the ENJ price is up by over 10.8%. At the time of press, the ENJ token is trading close to $0.356.
Here is what is happening in the crypto space.