Abode Begins Operations with First NFT Drop of Fractional Ownership in Premier Villa Project in the Dominican Republic

Rhea-AI Summary

Abode Stays, Inc. has launched its first fractional ownership NFT associated with the Infinity View Villas project in the Dominican Republic. The pre-launch occurred on September 15, 2022, with a full launch slated for November 22, 2022. Each NFT offers fractional ownership, enabling investors to benefit from rental income and property appreciation. The Dominican Republic is emerging as a popular vacation destination, attracting over 3.5 million tourists in 2022, which supports the appeal of this investment. Abode aims for a target internal rate of return of 21%.

Positive

• Target IRR of 21% is stated as attainable.
• Infinity View Villas project is 100% complete for Phase I, indicating readiness.
• The Dominican Republic is attracting a growing number of tourists, possibly increasing demand for vacation properties.
• Ownership through NFTs provides a novel investment opportunity for retail investors.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / September 15, 2022 / Abode Stays, Inc. an exotic vacation property owner and operator drops its first fractional ownership NFT for high-end Vacation Villa project in the Dominican Republic for investors and buyers in general.

"Abode pre-launches today with (https://abodestays.io) an NFT drop of fractional ownership in our Infinity View Villas project in Santo Domingo, Dominican Republic. Each NFT will represent a direct fractional ownership of the property of the underlying Infinity View Villas project, as well as all future rental income and capital appreciation. Additionally, each NFT will have special access to events, community activities as well as deep discounts and free nights on stays in all current and future Abode projects. We believe that in these times of pervasive inflation vacation second-home rentals in exotic markets are a very attractive investment offer to those looking to safeguard their money in income-producing properties. Dominican Republic is one of the safest and fastest growing vacation hotspots in the world, having received over 3.5 million international tourists as of June 2022, a 9.8% higher figure than the same period in pre-pandemic 2019. The DR is also attracting more discerning vacationers, where the level of spending has increased approximately 25% in the last decade," according to Interim-CEO Oscar Brito. Pre-launch of the product is today, September 15, while full launch will be on November 22, 2022. As of now, potential investors and NFT buyers can join our reservation list and will be the first ones contacted once the NFT drop is live. "Even though this is our first project in Dominican Republic, we feel that a target IRR of 21% is very attainable. This type of investment is rarely offered to retail investors and Abode will change that by giving access of exotic high-IRR vacation properties to the retail investor and crowdfunder", further explained Mr. Brito.

Infinity View Villas is comprised of 3 phases for a total of 8 villas. Phase I is 100% complete and has 3 2BR/2Bath villas of approximately 1200 ft2 each, while Phase II has 2 large homes with 3BR/2Bath each, with an approximate size of 2200 ft2 each and is 15% complete. Phase III is also 15% complete and will have 3 villas of the same size as Phase I. Additionally, the project has breathtaking mountain and river views, a jacuzzi, infinity pool, BBQ gazebo and many other high-end amenities. Infinity View Villas will be Abode's first NFT drop, however, the company is in final stages of acquiring a premier vineyard in Mendoza, Argentina. The company expects this offer to also be available on November 22, when the company officially drops the first NFT and starts taking final sales. Additionally, Abode is in conversations to acquire a 25-luxury villa project in Comporta, Portugal and a high-end heliskiing resort in Mendoza, Argentina, as well as other premier exotic vacation projects in Greece, Mojave Desert and others.

Abode Stays, Inc. is a majority-owned Metrospaces (OTC PINK:MSPC) company.

About Abode: Abode is a Prop-tech company that owns and operates exotic vacation properties in unique locations. The company funds it's project via NFT drops backed by ownership in the underlying vacation properties while also giving NFT holders access to special events, deep discounts and free nights on stays across its properties. Abode also uses state-of-art vacation home rental management and marketing tools to enhance occupancy rate and operating margin.

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

Metrospaces Inc.

CONTACT
investors@metrospaces.com

SOURCE: Metrospaces, Inc.

View source version on accesswire.com:
https://www.accesswire.com/716077/Abode-Begins-Operations-with-First-NFT-Drop-of-Fractional-Ownership-in-Premier-Villa-Project-in-the-Dominican-Republic

FAQ

What is the date of Abode Stays' first NFT drop related to the Infinity View Villas project?

The first NFT drop is scheduled for September 15, 2022, with a full launch on November 22, 2022.

What are the expected returns for investors in the Infinity View Villas project?

Abode Stays targets an internal rate of return of 21% for investors.

What does each NFT represent in the Infinity View Villas project?

Each NFT represents fractional ownership of the property and entitles holders to rental income and capital appreciation.

How is Abode Stays planning to attract investors for its NFT drop?

Investors can join a reservation list before the NFT drop goes live, ensuring they are contacted first.

What are some key features of the Infinity View Villas project?

The project includes high-end amenities like a jacuzzi, infinity pool, BBQ gazebo, and breathtaking views.