Web3 start-up Everlodge.io strives to become the next Airbnb on the blockchain
Airbnb was once the favorite of budget-conscious or adventurous travelers, as well as landlords wishing to get some income from their properties. High property costs and high AirBnB fees have resulted in lower valuations for Airbnb as a new and more cost-effective strategy is needed. This is particularly evident for those who cannot afford a property of their own due to the state of the property market. Let’s see what Everlodge has to offer.
An alternative to short-term rentals
Short-term rentals, like those on Airbnb and Vrbo, have experienced both a boom and a bust. While some hosts have thrived, others faced empty booking calendars and tumbling earnings. The Airbnb market has grown substantially, leading to oversupply in certain areas, causing competition for guests and lower profits for hosts.
The industry is hitting a turning point, with some cities allowing unrestricted growth, leading to oversaturation, while others have imposed limitations to protect neighborhoods and preserve profits for existing hosts.
Local governments now face the choice of managing the boom-and-bust cycle or implementing rules to strike a balance. Despite the challenges, short-term rentals are here to stay, and the industry is maturing.
Everlodge touted as the crypto version of Airbnb
Everlodge is looking to find a way to streamline luxury holiday rentals and democratize access to would-be landlords, by doing things on the blockchain.
Everlodge will partner with luxury hotel chains and other property conglomerates. Hotels and high-end villas from diverse locations undergo digital transformation to become NFTs (non-fungible tokens). All the necessary property particulars, deeds, and ownership details are securely kept within the smart contract’s metadata.
Following this, the NFT is fragmented into smaller units, enabling users to purchase smaller shares of the property.
As the property’s value appreciates, the corresponding increase in NFT prices occurs meaning that those holding the NFTs see their wealth increase.
Picture this: A stunning beachfront villa in Bali, valued at $2.5 million, is transformed into an NFT and fractionalized into 25,000 fragments, each worth $100. If the villa’s value experiences a 15% increase, the NFT prices will also go up proportionally.
This means average investors who don’t have hundreds of thousands of dollars can now make property a part of their portfolio, and even receive rental income.
Not only that but users will be able to co-own various types of homes and properties around the world and trade them on the Everlodge market.
A novel feature that Everlodge has to offer is that there will be a launchpad that will help and support would be property developers and allow them to raise capital. Successful projects will then be integrated into Everlodge, giving exclusive access to brand-new places to stay.
Since the global real estate market is worth more than $280 trillion and the global hospitality industry was valued at over $4.5 trillion last year, there is clearly a lot of room for growth, and that’s why big players like Blackrock and Franklin Templeton are getting into the space of tokenization of real-world assets like property.
There’s another bonus that Everlodge offers that Airbnb does not, and that is the associated benefits with their token ELDG.
ELDG is the coin that people will use to trade in the marketplace, but it can also be staked for 10% passive income and will bring other benefits such as discounts on property maintenance, and access to VIP investor groups.
As ELDG is in stage 1 of presale at $0.01 but is predicted to rise sharply, this is a great way for people who missed the Airbnb hype, or just couldn’t participate due to the high barrier to entry, to become a holiday property co-owner.
Find out more about the Everlodge (ELDG) Presale