NFTs (Non-Fungible Tokens) are quickly becoming a game-changer across various industries, including real estate, a notable example of this is “NOT A HOTEL“. A service that integrates NFTs into real estate ownership and membership programs.
In this article, we’ll explore how NOT A HOTEL leverages NFT technology. As well as its unique membership service and benefits. Also, how users can purchase and utilize NFTs within this platform. If you’re curious about the fusion of real estate and NFTs, read on to expand your knowledge. You can also check out our page for more articles like this.
What is NOT A HOTEL?
NOT A HOTEL is a unique service that allows property owners to seamlessly switch their property’s use. Allowing switches between a personal home, vacation home, or hotel. Additionally, owners gain unprecedented flexibility through a simple app interface. Here’s how the service works and why it’s drawing attention.
Service Overview
At its core, NOT A HOTEL offers a hybrid model for property ownership. Users can buy properties outright or opt for a shared ownership plan (for example, 10 or 30 days per year).
Through their mobile app, owners designate personal use days for the property. Then the system automatically lists any unreserved days as available for hotel bookings three months in advance. Allowing owners to earn rental income effortlessly.
What Makes NOT A HOTEL Unique?
This service combines luxury real estate with hotel management, making it a stand-out offering for property investors.
Since 2022, NOT A HOTEL has expanded its offerings with an NFT-based membership service. They added a whole new dimension to its business model.
The NFT Membership Service: How It Works
In addition to property ownership, NOT A HOTEL introduced a membership model based on NFTs. They call it “NOT A HOTEL MEMBERSHIP NFT.” This membership gives users the ability to stay in NOT A HOTEL properties without actually purchasing real estate.
Membership Plans
There are three tiers of membership, each with different perks and costs:
- MEMBERSHIP S
- Price: 1.85 million yen
- Stay: 1 night per year (total of 47 nights over the membership period)
- Perks: Access to exclusive events
- MEMBERSHIP Y
- Price: 3.55 million yen
- Stay: 2 consecutive nights per year (total of 94 nights)
- Perks: Event access
- MEMBERSHIP X
- Price: 5.8 million yen
- Stay: 3 consecutive nights per year (total of 141 nights)
- Perks: Exclusive facility use and event participation
Benefits of the NFT-Based Membership
The NFT membership model provides great benefits for users who want high-end real estate but cannot commit to it. Here’s what makes this service appealing:
- Cost-Effective Stays: While owning a property outright is costly. The NFT membership allows users to access these luxurious homes at a fraction of the price, thus enabling short-term or seasonal stays in high-end properties without the long-term commitment of ownership.
- Flexible Usage: When users purchase a membership NFT, the system assigns them random stay dates (“travel days”) for each year. They use an NFT called “THE KEY,” issued 90 days before each travel date.
- Tradable NFTs: If members cannot use their assigned dates, they can trade or sell their THE KEY NFTs on third-party marketplaces. Allowing flexibility and the potential for profit.
- Exclusive Events: Membership NFT holders can participate in exclusive events. Higher-tier members such as MEMBERSHIP X gain access to exclusive facilities that are not open to the public.
- Giftable NFTs: Members can gift their NFTs to family or friends, making the system even more flexible.
The New Project: NOT A HOTEL DAO and Cryptocurrency
To further involve users in their properties and services, NOT A HOTEL announced the creation of DAO. (Decentralized Autonomous Organization)
This new project includes the launch of NOT A HOTEL COIN, a cryptocurrency tied to the company’s ecosystem.
Benefits of NOT A HOTEL COIN
- Staking Rewards: Users who stake NOT A HOTEL COIN will receive rewards, including more coins or accommodation rights at NOT A HOTEL properties.
- Exclusive Stay Rights: Based on how much they stake, stakers will earn the right to stay at NOT A HOTEL properties.
How to Purchase NFTs and Make a Reservation
Purchasing a membership or making a reservation is relatively straightforward:
1. Obtain THE KEY NFT:
Buy a membership NFT from NOT A HOTEL (issued 90 days before your “travel days”). Alternatively, you can also purchase THE KEY NFTs from a marketplace like OpenSea or receive one as a gift.
2. Then, Connect Your Wallet:
Link your MetaMask wallet containing THE KEY NFT to the NOT A HOTEL platform.
3. Lastly, Make a Reservation:
Finally, after connecting, you’ll see the availability tied to your NFT. Then use THE KEY to reserve your stay.
Risks and Considerations
While the service offers many advantages, potential members should consider the following risks:
- Limited Flexibility: You cannot choose your stay dates or properties, since they are randomly assigned each year.
- NFT Resale Uncertainty: There is no guarantee you’ll be able to resell your NFTs at a favorable price.
- Company Viability: If NOT A HOTEL were to face financial difficulties, consequently your NFTs might lose their value.
Future Prospects of NOT A HOTEL
- Growth of the NFT Market: As the NFT market expands, so too could the appeal of services like NOT A HOTEL. This offers more opportunities for users to own and manage high-end real estate via blockchain technology.
- Targeting High-Net-Worth Individuals: The company’s luxury focus could attract high-net-worth individuals looking for unique, exclusive vacation experiences.
- Expansion Plans: NOT A HOTEL aims to expand its portfolio of shared villas. With strong backing from venture capitalists, the company seems well-positioned for rapid growth.
The Future of NOT A HOTEL
NOT A HOTEL NFTs is transforming the way people think about property ownership and vacation stays. By leveraging NFT technology, the service offers a flexible, innovative, and luxurious real estate experience that appeals to a wide range of investors and travelers. With the upcoming launch of its DAO and cryptocurrency, NOT A HOTEL NFTs is set to further revolutionize the real estate sector.
