Industry Update
Press Release18 June 2018

Crowdvilla makes history by acquiring shared holiday properties and brings blockchain to Bali

Crowdvilla has become the first blockchain-based real estate startup in the world to acquire a collection of shared holiday homes for its community members to own using CROWD tokens.

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Crowdvilla

Singapore -- Crowdvilla, the blockchain-based startup that enables its community of users to own and share holiday homes, has in-principle acquired a collection of holiday properties, which include boutique hotels and luxurious villas in Bali, Indonesia.

Crowdvilla is revitalizing the sharing economy through its decentralized real estate platform, allowing users to book serviced holiday homes that are co-owned by Crowdvilla community members.

The collection of shared holiday properties, spread across Gianyar, Seminyak and Legian in Bali is the first in history to be acquired by a blockchain-based startup and sold using digital tokens.

"We're thrilled to make history as the first non-profit, blockchain-based startup to bring shared holiday homes to its community of users using our CRV and CROWD tokens model," says Darvin Kurniawan, Co-Founder and CEO of Crowdvilla.

One of the acquired beachfront villas on the shores of Bali spans 4,100 square meters and comes with its own pool, a spacious garden, and a master bedroom with an ocean view. It has four other bedrooms, a two-bedroom guest house, and can sleep 14 people comfortably.

This newly acquired property will be a part of Crowdvilla's initial alpha launch, targeted for three months after the token sale in late June 2018, and will be available at the promotional price of 1 CROWD Token per night.

Following the launch, Crowdvilla expects to beat the market rate for a nights stay in a luxurious Bali hotel and lower its cost of acquired holiday homes. As Crowdvilla is a a non-profit organisation, users would only need to cover operating costs when staying in their properties, a fee that would be much less than the cost of booking a 5-star hotel in Bali.

Crowdvilla will continue to acquire or rent holiday properties in getaway tourist destinations and cities such as Kuala Lumpur, Bangkok, Jakarta, Phuket, Tokyo, and Hong Kong to build up its holiday home portfolio. Crowdvilla will then work to attain properties in Europe, the Middle East, and the United States.

"The acquisition of properties in Bali, and a few in Tokyo, are the first of many to come. Each day, we're striving to meet the holiday needs of our users in a growing space where booking holiday homes is easier and comes with greater benefits," said Kurniawan.

Crowdvilla is expected to raise up to US$50 million from its July 2018 token sale. The rate without a bonus is 1 ETH to 4,000 CRV, plus 4,000 CROWD. This will provide Crowdvilla with the funding needed to acquire further real estate assets that will continue building its holiday homes portfolio.

About Crowdvilla

Crowdvilla is a Singapore-based community-focused, blockchain, non-profit organization that provides a platform for users to own and share holiday homes around the world. After founding REIDAO, a blockchain based real estate company, Darvin Kurniawan co-founded Crowdvilla as a proof of concept of the the decentralized real-estate ownership model. The Crowdvilla's core team comprises of expert advisors such as former CEO and Co-founder of Roomorama, Federico Folcia, Paul Chen, who sits on AsiaProp.Tech advisory board, and heads RealFoundations in Asia, Achim Jedelsky, initiator of the Daimler Blockchain Group, and American real estate guru John Dean Markunas.

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Samantha Yap
Director & Meda Strategist at YAP Global
Phone: +447519436604
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