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Author: Adeola @ Contributor of PermaDAO
Reviewer: Xiaosong HU @ Contributor of PermaDAO
Community Labs, a venture studio and Arweave-focused software company has launched Oases which allows fractionalised ownership of real estate, an initiative it is taking on as it begins to focus on building consumer products.
Digital nomads and vacation goers are the major target customers for Oases’ flexible property ownership. Ownership is represented by tokens or digital shares which means that the amount of tokens one possesses determines how long one can stay in the property. It further stated that properties can be switched on the Oases marketplace where tokens can be traded.
“This provides users with experiences best tailored to their unique lifestyle, whether it’s a mountain home to use all summer, or a few nights stay in NYC,” Oases stated.
The project removes some of the roadblocks to investing in real estate or owning one including liquidity, huge initial investment, rocketing mortgage rates or closing costs. Investors can start with a small amount of capital and still be an Oases owner without needing to take a loan and can sell at any time.
Owners of properties can stay in the property for a period of time proportional to the value of their ownership, Oases stated. For example, a 10 percent ownership in property equals 30 days stay in the property.
While for some, owning a real estate property is not an issue, managing and maintaining it could be a hassle. Oases said it takes away the responsibility of managing, cleaning, and maintaining from the owners of the property.
“Fractional property ownership backed by real-world assets on Arweave,” Tate Berenbaum, the founder of Community Labs said, calling digital nomads to contact to reach out.
Indeed, digital nomads are big money spenders who may be interested in investing in real estate across the world. A United States-based consultancy MBO Partners’ in a 2023 Digital Nomads Report, 17.3 million US workers are digital nomads and another 24 million aspire to join them in the next two or three years. Travel writer Carlos Grider estimated that digital nomads contribute $787 billion to the global economy annually.
Also, the tourism and vacation sector has bounced back since the Covid-19 pandemic lockdown disrupted it. The World Economic Forum quoting Statista reported in March 2023 that global tourism bounced back strongly in 2022 as international tourist arrivals more than doubled compared to the previous two years.
Community Labs said in September 2023 that it was creating Oases following the realisation that the Arweave ecosystem needs consumer-facing products and that there was enough tooling and infrastructure to move into making innovations for end users.
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