Overview of EstateDAO - Revolutionizing Vacation Home Investment

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After two years of working in the stealth mode, our team is excited to announce the official launch of EstateDAO on the Internet Computer Protocol (ICP). Estate DAO is a decentralized Vacation Rental platform, akin to Airbnb, but with a unique feature – the option to tokenize Vacation Real Estate. In essence, users can not only own fractions of vacation rental properties worldwide but also enjoy stays in their partially-owned rentals, while generating passive income from these Real-World Assets. EstateDAO marks the beginning of a revolutionary path, seamlessly merging the security of Real Estate Assets with the cutting-edge capabilities of blockchain technology, all powered by the Internet Computer Protocol (ICP).

There has been several challenges with the current AirBnB Commissions model. Property owners grapple with high commissions, ranging from 5% to 15% or more, impacting profitability, especially for small-scale hosts. For instance, a property rented at $200 per night with a 10% commission could result in a host losing $140 for a week-long stay. Guests, on the other hand, bear high service fees again, ranging from 5% to 15% or more, leading to a total cost significantly higher than the advertised nightly rate. This pricing structure leads to an average of 20% - 30% commissions for AirBnB and also poses a significant challenges for budget-conscious travellers. The dual impact on owners and guests raises concerns about Airbnb’s commitment to a fair and sustainable marketplace, prompting discussions about the need for a better platform (preferably a DAO-managed), and more equitable fee structure to preserve the platform’s core values and long-term sustainability.

Additionally, Vacation Rentals has been marred with several other problems and how Estate DAO is looking to solve these problems:

:money_with_wings: Barrier to Entry and High Costs: A major obstacle in conventional real estate investments is the need for substantial capital and therefore the restricted availability of this investment class. EstateDAO enables people from diverse backgrounds to possess and invest in vacation real estate by dividing these assets into affordable and manageable fractions.

:arrows_counterclockwise: Illiquidity of Real Estate Assets: One of the main challenges of investing in real estate is the lack of liquidity. Selling real estate assets can be a very stressful and time-consuming process for most investors. EstateDAO addresses this challenge by creating a marketplace that allows investors to buy and sell tokenized NFTs of the properties listed on the platform, offering a smooth and convenient experience to the investors.

:closed_lock_with_key: Complex Real Estate Purchases: Real estate investment is a fundamentally intricate process that involves various legalities, intermediaries and due diligence. EstateDAO offers a simplified solution for those interested in this asset class by digitizing the entire process, eliminating the unnecessary complications and facilitating the acquisition journey.

:no_entry_sign: Fraud and Scams in Vacation Rentals: The vacation rental industry is rife with frauds and scams, where untrustworthy individuals exploit naive customers. EstateDAO features only verified properties that have passed a thorough screening process by our in-house scouts and community members. This guarantees the quality of the properties and lets the users have a peaceful vacation.

:bed: Unreliable Vacation Rentals: Many vacation rentals have problems with cleanliness and safety. EstateDAO ensures the service and security of its properties by entrusting professional property managers and community members (token holders) with the meticulous management of the listed properties.

:moneybag: Challenges in Generating Returns: Managing and generating returns from real estate properties is a daunting task. This requires active management and significant amount of time and effort, while incurring significant cost. By employing professionals to manage every aspect of the property, EstateDAO enables its investors to maximise their investment yields while enjoying a seamless and hassle-free experience.

How the Estate DAO Platform Works

With EstateDAO, users have the opportunity to be part of a transformative movement that revolutionizes the traditional vacation home market. Explore fractional ownership, trade EstateNFTs, and book your dream vacation with ease! EstateDAO is reshaping the future of vacation home ownership.

:house_with_garden: EstateDAO: Your Gateway to Fractional Ownership Worldwide

Discover the practicality of obtaining fractional ownership in your dream vacation homes globally with EstateDAO. Entry points as low as $100 open doors for individuals to engage in the real estate market. The innovative approach involves dividing vacation properties into units, each represented by NFTs, granting ownership within a dedicated Special Purpose Vehicle (SPV) created to hold the real estate asset securely.

:arrows_counterclockwise: Efficient Ownership Exchange with EstateMart

EstateMart, our cutting-edge marketplace, enables owners to seamlessly trade their ownership stakes in vacation homes using EstateNFTs, all with minimal transaction costs. This dynamic platform enhances liquidity in what has traditionally been an illiquid market, offering owners flexible entry and exit options.

:moneybag: Empowering Users to Earn Through EstateDAO

EstateDAO empowers users to generate rental income and capital appreciation by holding tokenized ownership of vacation homes through EstateNFTs. With all EstateDAO properties professionally managed and dedicated rental services in place, NFT owners can maximize their rental yields and achieve a substantial return on investment (ROI).

:globe_with_meridians: Exclusive Booking Opportunities with MyEstate

MyEstate introduces a unique perk for EstateNFT owners – the ability to reserve complimentary stays (time-sharing benefits) in meticulously curated vacation homes. This exclusive benefit is facilitated through EstateNFTs, granting owners a share of the time-sharing arrangement for the property.

Join EstateDAO to embark on a journey where buying, trading, earning, and booking seamlessly come together. Elevate your real estate experience with EstateDAO’s revolutionary approach to fractional ownership, liquidity, and maximizing returns. It’s time to redefine your vacation home journey.

Visit our website and read our whitepaper for more information on the project. Thank you!

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This looks visionary!! :clap:t2:

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One of the few highly creative yet practical projects in the crypto space. I really liked the idea. Huge potential, great work!
Let’s see the implementation. That will be the make or break for the project.

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This is a great idea. It seems like it has a lot of potential. I look forward to learning more.

I didn’t see any information on the website or whitepaper about the dev team. Does the team plan to remain anonymous or will they be revealed. I’m curious who is behind this project and what skill and experience is on the team.

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Why is the site hosted on Google Cloud? I might have overlooked something, but are there plans to transition it?

Personally, I’m inclined not to support any DAOs unless they are operating entirely on-chain.

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Unfortunately, this has all the red flags of being a scam :frowning:

I strongly warn all voters and if passed, any swap investor.

A few strong red flags:

  • no disclosure of dev team.
  • website is not on ICP :man_facepalming:
  • website looks like someone just got it from a template of static page, it’s not even a demo / prototype.
  • the whitepaper only has ideas and “future” potential baits.
  • there is no Dfinity grant. no experience at all on the space.

Going directly for an SNS sale, seems rushed and too risky for the community.
I voted NO on the NNS proposal. :x:

Be careful with your money, do your own due diligence. :money_with_wings:

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The founding team of EstateDAO has been working on the project in the stealth mode for the last 2 years, building under the wraps, before we launched our platform in February 2024 (EstateDAO website).

EstateDAO is built completely on the IC blockchain with both the front-end and back-end hosted on-chain. The Technical Architecture of the EstateDAO outlines how the project is structured from a technology standpoint, while also providing additional information around the same.

The founding team backing the project has been outlined in the Whitepaper and comprises of the following people:

  1. George Bassadone: George is a serial entrepreneur (third generation entrepreneur) and a prolific angel investor in the IC ecosystem. He has been deeply entrenched in the IC ecosystem for the last 3 years now (since genesis) and has invested in several IC projects as an angel investor. He is also a well-known node provider for the Internet Computer blockchain. He is also the director of AADS, which he set up at the age of 27 and scaled tremendously over the next 10 years, supplying to major governments across the world, including the United States, several European and South American countries. Furthermore, he has invested in vacation homes for the past 10 years, with a portfolio of properties spanning Europe, South Africa and Middle East. George has a deep understanding of the asset class and have managed to optimize returns from real estate. He is an alumnus of Harvard Business School and Columbia Business School. (Linkedin)

  2. Tina Rohner, CFA: Tina brings in her rich experience in the field of finance. She has worked with supranational organizations such as Asian Development Bank as the Senior Investment Specialist and in major investment banks like Goldman Sachs focusing majorly on the technology sector. She has led numerous debt and equity transactions in developing countries in Asia and developed economies such as Singapore and the United States. She holds Master degrees from the Lee Kuan Yew School of Public Policy in Singapore and Sciences Po Paris. She has extensive experience in dealing in vacation homes for the last 10 years and has lived in several countries across the world including Singapore, Philippines, USA, Europe and Georgia.

  3. Ayushi Awasthi: Ayushi is a seasoned consultant having more than 10 years of experience of heading engagements as a Project Lead on more than 40 financial, wealth and asset, risk management, insurance, and banking and capital markets engagements in the Big 4 firms. Focusing primarily on innovation and optimizing customer experience, she has an in-depth experience in IT Risk Management, wherein she deployed IT general controls to evaluate and monitor project’s internal control design and effectiveness.

The team members have participated in several AMAs since the launch of the project in February 2024, collaborating with various thought leaders and projects in the IC ecosystem and explaining in detail the vision and mission of EstateDAO. The links to some of the AMAs are as follows:

  1. Twitter Spaces with @TheSwop: https://twitter.com/i/spaces/1LyxBnwVAvExN?s=20
  2. Twitter Spaces with @ICP_insider: https://twitter.com/i/spaces/1eaKbgLgMBnGX?s=20
  3. Twitter Spaces with @CryptoEights: https://twitter.com/i/spaces/1kvJpvqlVMDKE?s=20
  4. Twitter Spaces with @icphub_IN: https://twitter.com/i/spaces/1OwGWYPjMpmxQ?s=20
  5. Conversation with @ICPNorth: Let's talk ICP - Interview with George Bassadone and Tina Rohner (CFA) - Founders of Estate DAO | RSS.com
  6. Conversation with @ICPHubPH (Youtube Live): https://www.youtube.com/live/b3eopgipGmA?si=uwc6tQD4XWEOYDc6
  7. Conversation with @bitcoinr3negade (Youtube Live): https://www.youtube.com/live/cwNloXFb92g?si=DRGIKBO6GQQhuJZv

The team members have a very strong background in crypto, real estate investing and financing. They bring complimentary skills to the project, their respective experience and their knowledge of the crypto space to the project, contributing to the innovation and adaptability of the project. Also, we would be creating a board of advisors comprising of highly experienced and capable real-estate executives, enabling us to take advantage of their knowledge and experience in the field.

The initial catchment area for the project would be Spain, as a couple of our founders have lived and invested in real estate in the country for over a decade.

For more information, please visit our Forum Post for SNS Sale, Website, Twitter and the Whitepaper.

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There has been no communication with investors since the passing of the SNS Sale. Can we establish a OpenChat community so there is transparency and a means of communication with the team?

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Hi EstateDao Team,

When will liquidity be added to icpswap? Right now, it’s hard for people to invest into your project by purchasing tokens via the dex due to the problem mentioned above.

Is someone from the team working to fix this issue?

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We are actively working on providing liquidity to the various DEXes on the IC ecosystem, which should be completed by this week, save any unforeseen issues. Initially, it will be available on DEXes, followed by Helix integration as per our plan. We will keep the community posted about it.

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When should we be expecting proposals to approve these moves?

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These proposals should be submitted within this week by the team.

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Awesome! Who do we have working as a dev on this project? That is one question I haven’t seen answered previously. Thanks!

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Hi guys, so i have invested in Estate Dao project for 2,5 weeks ago with 62,18 ICP, i’m really new in crypto space i started crypto in October 2023 and from then i have been accumulating ICP every day with my low budget, i’m 17 year old and working extra after my school i have been purchasing all my saving into ICP and Bitcoin! i really didn’t understand how the launch pad work i thought i will be getting my ICP after the event and get some ESTATE DAO airdrop but later i release my ICP is gone forever and now my 62,18 ICP worth 2 ICP i have been working so hard to accumulate so much ICP that i can for my future but now it’s gone i will request the team if it’s possible that i can get my ICP back i will be soo glad and thankful! i had a very bad time from the day i release my ICP is gone. thank you for understanding.

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Hi @farhad280! Thank you for reaching out! Unfortunately, we would not be able to refund the ICP that you have invested in the project during the SNS Sale. The investment is voluntary and cannot be withdrawn once the ICP has been committed. You would have received EST tokens (as locked neurons) in lieu of the ICP that you have invested in the project. You can view these neurons in the NNS portal. Once you login using your Internet Identity to the NNS portal, please head to Neuron Staking, where you will find your neurons under EstateDAO (https://nns.ic0.app/neurons/?u=abhsa-pyaaa-aaaaq-aac3q-cai).

We are in the process of adding liquidity to the various DEXes in the IC ecosystem. This would allow you to trade the unlocked tokens on these exchanges. Please reach out to us at info@estatedao.org should you need any further assistance. We would be happy to help! Thank you!

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Hi EstateDAO, do you plan to have a team on Telegram?

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Could I get the Dev Team Neuron ID for people who’d like to follow?

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This is EstateDAO Developer neuron ID, please make sure to follow all

047d950b66f4627c362de28388879fcebe3a7a8d66c3f93245d57af6cb6aff8a

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Ayushi, George, and Tina…

I have a couple of questions.

  1. What is the status of the project and when can we expect to see another property listed?

  2. What is the financial status of the project? Your raise was minimal for such a project and now the price of ICP is almost 50% down so will it be enough or are you going to need to raise more funds in another round or from outside investors and if so, when will you be doing so?

  3. How and where will the project be marketed and how will you communicate with investors once you have 1 or more properties finally listed as available for fractional ownership? I don’t see a mailing list or other features on the website.

  4. Is the website being worked on and if so, when can we expect to see these updates?

I feel very strongly that you owe your SNS launch investors, including myself, an update here and that you need to communicate at least periodically with everyone and keep them in the loop. It is nice that you 3 know what’s going on but you’re no longer a private company and therefore you should act like it. Public companies are required to disclose for a reason and I feel it is your OBLIGATION to do so.

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At EstateDAO, transparency is one of our core pillars. We stay in touch with our community by regularly updating them on our progress via our Twitter account. This month, we completed the DFINITY Grant Program, marking a significant technological leap forward for our product capabilities. With this, our current efforts are focused on building a decentralized booking platform for phase one. This strategic move allows us to quickly capitalize on the market and attract user base, while also initiating revenue streams for the project. Here’s why this is crucial:

  • Growing User Base: Attracting users to the platform creates a pool of potential investors, aiding the investment platform and future fundraising efforts.
  • Increased Transactions: Increased activity on the platform will attract further users and investors, helping us achieve our broader goals.
  • Legal and Regulatory Ease: This approach enables us to navigate the complexities of blockchain and real estate sectors more efficiently while we develop a regulatory process for fractional property ownership of real estate via blockchain.

To build a competitive product for the market, we have also been hiring competent developers, product manager, and UX/UI designers over the past two months. With our existing capital and the plans for expanding our resource base through these new hires, we can sustainably operate for the next 12-18 months. We also intend to list Estate tokens (EST) on centralized exchanges in the coming future. This will provide additional liquidity in the market, while also creating opportunities for further fundraising for the project.

We will be rolling out our decentralized booking platform in the coming weeks and keep the community posted about it. We appreciate your continued support!