With the massive growth of the NFT sector and its mass adoption, we thought to add this new type of token in our dApp. Users could convert their loyalty or rewards points into $BITE, access and manage both cryptocurrencies and non fungible tokens from one place, stake them and get rewarded for it.
A project that caught our attention is LABS, one of the preeminent blockchain-based real estate investment platforms. LABS tokenizes properties and resorts, making real estate available to all on the blockchain for as low as USD $100 per unit. The firm has also recently announced to offer tailor made holidays and hotel side products under the form of NFTs. For DragonBite whose users are familiar with loyalty programs, LABS NFTs are a perfect match. We are therefore thrilled to announce a partnership with LABS to make its non-fungible tokens available via the DragonBite dApp.
Connect Everyday Users With NFTs
With a development team of industry experts and a top-of-the-line product, DragonBite has an edge when it comes to market penetration and potential user acquisition. Our dApp aims at bringing the mainstream consumer into the crypto world by enabling conversion of e-vouchers, gift cards and expiring rewards points from participating loyalty programs into cryptocurrencies.
In order to reach broad mainstream acceptance, we are actively collaborating with other industry-leading platforms to provide value to both of its targeted user bases — loyalty point aficionados and crypto currency early adopters. LABS is the first among many NFT partners we will be announcing this year.
We believe the success of DragonBite will remain from the number of participating loyalty programs, crypto currencies supported and diversification of NFT offered to our users.
LABS NFTs Explained
LABS offers an extraordinarily innovative and value-generating product, real-estate-based digital assets — including resorts and luxury villas turned into NFTs, making it easier for people to add NFTs to their digital asset portfolio while also using them. LABS NFTs will include tailormade holidays and hotel side products. The NFTs will provide owners special privileges like access to hotels on specific days, extra discounts and other benefits.
The NFTs will be available for purchase on the LABS platform and redeemed in the form of merchants cash coupons, loyalty points, gaming assets and supported crypto currencies on the DragonBite dapp. This will help in providing more liquidity to LABS Ecosystem users and highlights one of the real world use cases of $BITE (DragonBite’s native token) since NFTs would need to be converted first into $BITE before redemption. DragonBite users could also access NFTs when converting their loyalty points into $BITE making it even more convenient for users to access and store non-fungible tokens.
“Through DragonBite’s intuitive application, the LABS team saw a huge opportunity to introduce a variety of their new real-estate-based NFTs to people not familiar with crypto-currencies but hunting for the best holidays deals and use of their finance,” says Yuen Wong, CEO of LABS.
More NFTs to come on DragonBite
The integration of LABS NFTs on the DragonBite’s dapp is expected to be completed by Q4 2021.
‘’With the official start of this partnership, we know that all end users involved will receive an extremely valuable service by making LABS real estate-based NFTs more accessible, usable, and value-producing. This partnership represents a step in the right direction to expand DragonBite’s suite of products, making our platform more appealing to crypto and NFTs holders,’’ adds Andy Chen, Strategic Advisor at DragonBite.
DragonBite will be bringing more NFTs to its platform in the coming months through strategic partnerships with leading loyalty programs and reshaping the way loyalty programs work, leveraging the blockchain for innovative solutions to old problems and ultimately providing greater benefit to its users.
LABS is an all-inclusive real-estate-focused blockchain platform, unlocking additional value for property owners and investors alike. As an end-to-end real estate and blockchain investing platform, LABS offers various real-estate-based blockchain services. Some of LABS’ primary offerings include the tokenization and fractionalization of real estate assets, easy access to crowdfunding, a regulated securities exchange, and the implementation of collateralized lending using real estate tokens. With LABS, users can unlock additional value within real estate that was never previously possible.
DragonBite is a decentralized ecosystem that puts the power of the cryptocurrency market into the hands of its users. DragonBite offers various products and services, catering to almost every aspect of the cryptocurrency economy, including a digital wallet, a cryptocurrency exchange, loyalty redemption points, discounts/purchases with crypto, and more. Using the DragonBite application, users gain access to every feature they could need within the cryptocurrency market.