LABS Group (LABS) Price, Charts, and News | Coinbase: labs coin, labs group coin, labs crypto

What Is LABS Group (LABS)?

LABS Group is a community-driven cryptocurrency that transforms the real estate industry into digital shares. This ecosystem aims to redefine the trading sector of real estate. As per its whitepaper, the key mission of this network is to normalize wealth in the world of centralization and decentralization and give the power of decision-making back to the investors. LABS Group achieves this mission by offering traditional trading access to everyone, rather than only elites. The asset aims to provide real estate trading opportunities using digital assets and crowdfunding. Besides, the network offers a trading and crowdfunding platform, a collateralized lending space, and NFT reward solutions on hotels and resorts.

LABS Group changes the traditional real estate market and designs a smart way for everyday financiers to grow their money in quality assets. In the real estate industry, the average ticket price to put money in properties is high, especially in the main locations and cities. The platform also observed the complexity of the property purchasing process and high fees in the market. Hence, the team of LABS Group designed this ecosystem to solve these issues by digitalizing the real estate market. The asset’s securities exchange created on blockchain that offers secure, safe, and transparent transactions monitored by smart contracts. The ecosystem also brings the idea of real estate to everyone by offering a global portfolio, decentralized finance and governance, quick daily rental payouts, lower charges, and faster transactions.

LABS is the governance and utility token of LABS Group. Users get access to real estate on a priority basis for holding LABS tokens in their wallets. The LABS Group also seeks to provide incentives such as discounts to token holders. As per the token allocation of LABS, 20 percent of the share goes to sale, 5 percent to its partners, 15 percent to the founding team, 10 percent goes to reserve, and 50 percent of the major share goes to the interest and ecosystem of LABS Group.

History of LABS Group (LABS)

LABS Group was released in 2017 and started its real estate fund partnership in 2020. The founding team members include Mahesh Harilela (chairman), Yuen Wong (CEO), Calvin Ng (president), and Leonidha Zhezha (CTO). The currency has a total supply of 10,000,000,000 LABS coins.