‘The Web3 Version of Airbnb’…Ok, but Why?

TL;DR

• There’s this startup called Everlodge.io that wants to become ‘the web3 version of Airbnb.’

• Everlodge isn’t really looking to provide accommodation to consumers – the company is more focused on lowering the barrier to entry for those looking to invest in holiday rental properties.

• NFTs makes sense because there’s already a well established global marketplace for them, and as far blockchain technology goes – NFTs don’t really face regulatory scrutiny.

Full Story

There’s this startup called Everlodge.io that wants to become ‘the web3 version of Airbnb.’

Our first reaction: that’s cool!

Our second reaction: …ok, but why do we need a ‘web3 version’ of Airbnb?

Short answer is: we don’t.

But Everlodge isn’t really looking to provide accommodation to consumers – the company is more focused on lowering the barrier to entry for those looking to invest in holiday rental properties.

The idea is this:

If you want to build a portfolio of holiday rental properties that are leased on Airbnb, it’s going to require a hefty chunk of change (prime real estate in holiday towns ain’t cheap).

Everlodge wants to:

1. Partner with existing hotels and high-end villa rental companies

2. Put a portion (or entirety) of select properties up for sale

3. Fractionalize that sale using NFTs

What does that look like?

Say a beach front villa in Bali gets listed at $2.5M – that value is then broken up and spread across 25,000 NFTs, each selling for $100.

Meaning, if you want to be able to invest in a beach front holiday rental in Bali, your buy-in just dropped from $2,500,000 to $100.

Ok, but why blockchain tech – why NFTs?

Probably because there’s already a well established global marketplace for NFTs, and as far blockchain technology goes – NFTs don’t really face regulatory scrutiny.

(And building an equivalent technology infrastructure that ticks all of those boxes, from scratch, would be one hell of a task).

All in all, the approach being taken here by Everlodge?

It ain’t the worst we’ve seen.