New York-based Stayawhile is aiming to create a real estate platform to utilize blockchain-based utility tokens as a store of value and security measure. The company is building a global network of furnished apartment rentals for medium-term lengths of stay in order to reduce the difficulty in renting abroad. To this end, it has announced the launch of Stayabit, an ERC-20 Ethereum token, which will be sold in a crowdsale beginning on the 30th of October, 2017.
Janine Yorio, Founder and CEO of Stayawhile, explained: “Stayawhile’s mission is to create a world with fewer borders. Our Stayabit token will help to eliminate many of the obstacles our international clientele often encounter when attempting to rent apartments in markets where they do not own assets,”
By integrating blockchain technology into its platform, Stayawhile intends to leverage its benefits by providing cross-border payments and security deposits, assessing the creditworthiness of individuals who may not have a U.S. credit score, and offering booking priority and discounts. The company currently operates apartments in New York City, Boston, and Philadelphia, with plans to expand to Miami, San Francisco, Los Angeles, London, Paris and Berlin in the near future.
Stayabit (STAY) tokens will be sold starting at a price of $1 per STAY token during the sale, which will run from the 30th of October through the 30th of November, 2017. The platform has stated its intent to offer benefits for both early buyers and large purchases. A private pre-sale will begin on the 15th of October, during which the tokens will be offered at discounted rates of up to 40%.