I have been looking forward to getting access to this coin for a while now, the unsurprising thing is that the first major access comes through KuCoin, this is one of the reasons KuCoin ranks so highly on our round up reviews.
For those of you who do not know, KuCoin support over 300 coins and have some of the most competitive trading fees found anywhere on the internet with a maximum on 0.10% and methods to get that lower by using KuCoin’s native cryptocurreny called KCS.
Now on to LABS, the reason I have been so excited about this is because LABS group is a digital investment platform that allows investors like me and you connect with property developers to buy and trade micro investments (LABS group call them tokens) in real estate. If this sounds exciting, then you’ll be interested to know this is all secured using blockchain technology and smart contracts. LABS group's key selling point is their ability to provide the chance to ordinary investors to invest in real estate all over the world for as little as $100. Users have the chance to choose which type of property they want to invest in (residential, commercial, industrial or hybrid) followed by the region and the amount of investment. Here is where it gets really interesting, by owning these tokens you can get rent paid out to you daily.
I am obviously very passionate about blockchain, smart contracts and crypto in general but what you might not know is that I am also passionate about real estate, the idea of owning a physical asset that provides residual income so for me LABS is a super exciting initiative. It will be very interesting to see how LABS progresses and what future innovations they can add to their platform.
There are only 10 million tokens in circulation and I suspect there will be an initial bump in value after the listing on KuCoin, as for the long term value of this I am in two minds; LABS group is the first group to officially combine real estate and blockchain so they're the first in the space which is always an advantage. On top of that the core team behind LABS looks really good, have a look for yourself, between them they have so much experience in many different areas of business. On the other hand everything in the crypto market moves so quickly that I could see another group with more innovation jumping into the space and providing stiff opposition. Although if this real estate/crypto hybrid does attract a lot of big player we will at least know we are in the right space.
Project summary on KuCoin
Here is some info on the release schedule on KuCoin if you want to get out in front:
- Deposits Effective Immediately (Supported Network: ERC-20)
- Trading: 12:00 on April 19, 2021 (UTC)
- Withdrawal: 14:00 on April 21, 2021 (UTC)
Here is a video that explains the core product
Here is an AMA with the CEO
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