Crypto marketplace Everlodge targets rental industry disruption
Worldwide: Crypto-based property marketplace Everlodge [ELDG], which enables users to fractionally invest in vacation homes, is targeting disrupting the vacation rental industry in the year ahead.
Currently in its pre-sale phase, the blockchain platform is “magnetising” the interest of Ethereum [ETH] and Solana [SOL] whales to invest and own a portion of real estate properties available, and then earn passive income. Crypto whales can refer to people or entities that hold a large amount of cryptocurrency [generally more than ten per cent of a cryptocurrency] so their transactions can change the valuation of currencies.
Cryptocurrency presales are used in cryptocurrency projects to raise capital before they officially launch. During this phase, investors can buy tokens or coins at a discounted price before they become available on cryptocurrency exchanges.
Everlodge claims to be introducing the world’s first co-ownership platform on the blockchain, and is powered by Airbnb, Vrbo, AWS and decentralised cryptocurrency exchange Uniswap. Using a seamless approach to fractional investing in vacation rentals, the marketplace sets out to eliminate the complexities associated with traditional real estate investment.
The platform works by digitising properties into NFTs [non-fungible tokens] – each NFT stores essential details including ownership, deeds and titles within the metadata. The NFTs are then fractionalised, enabling investors to buy a share of a property [be it villas, hotels or holiday homes] from $100 and benefit from associated rental income or appreciation in real estate value.
Adding an extra layer to the traditional timeshare model with blockchain capabilities, Everlodge offers unique features and rewards through its Rewards Club, where members can earn free stays or list their rewards for passive income by reselling nights.
The blockchain platform also offers its own native token, known as ELDG, which extends exclusive benefits to its holders, such as property purchase discounts and consistent dividends through staking. Tokens are currently priced at $0.01 during the pre-sale phase – which Everlodge uses as an extra incentive to reel in fractional property owners before the price rises post-launch.
By leveraging NFT technology, Everlodge says that it is transforming bricks-and-mortar luxury properties into digital assets, thereby democratising investment opportunities for property owners seeking to drive more passive income.
In its first week of the pre-sale phase, Everlodge claimed to have raised $250,000 in investment, a feat that had drawn the attention of other emerging coins such as Shiba Inu [SHIB] and VeChain [VET]. Both Shiba Inu [an altcoin – fusing ‘alternative’ and ‘coin’ that refers to any cryptocurrency besides bitcoin and ethereum] and VeChain [now on its own blockchain] have originally been based in ethereum, a decentralised blockchain second only to bitcoin in market capitalisation.
In recent times, ‘meme coins’ have made a significant entrance into the cryptocurrency landscape, including Dogecoin, Shiba Inu and Floki Inu, while cryptocurrency projects such as NFTs are also meme-based and have grown in popularity with people who share memes to go viral online.
Typically built on layer-one networks such as Ethereum, Solana and Polygon, meme coins rely heavily on the power of memes they are based on to build a strong, passionate community behind them and to capture investment interest. However, meme coins are by nature volatile and risky investments, and Everlodge believes that it offers a more stable project to entice new investors with its model.
