EWO place, a “ReTech” company that provides a no-rent model based on its own properties worldwide, notes that consumers are feeling frustrated as they are being “priced out” of renting or not being able to afford a place to live. The housing crisis is increasingly becoming a serious issue globally, and may have become worse due to the socioeconomic uncertainty following the COVID-19 outbreak in early 2020.
EWO place was established back in 2015, a time when villages based in Italy had been standing empty while young people were staging protests in Hong Kong. People’s frustration in feeling priced out of renting or never being able to own a place to live had been rising.
Focused on finding a way to demonetize real estate and reconnect people with places where they could live “unchained” by mortgages or exploitative rent payments, EWO claims it changed its approach a few times “trying to achieve this goal before finally presenting publicly.”
EWO place aims to serve as a community first, real estate platform for “flexible living.” Members are able to earn from, pay little or simply live rent-free, like-a-local, “in club owned properties around the world,” the company noted in an update shared with CI.
They are EWO place and they are “trying to kill rent,” the company claims.
What budget airlines did for travel, EWO wants to do for Real Estate. They make rent inexpensive to “give people the freedom to live anywhere.” They do that, “while paying you some high yield crypto rewards,” the company explained.
Stay & Stake into Real Estate.
Pay little or no rent “while empowering communities around you” and “experience other walks of life or simply earn crypto supporting those who do,” the firm noted.
EWO changes the existing real estate model as “a way to avoid mass global revolt and improve lives.” A place to live “should be a right, not a business,” the company notes while adding that all of these features can be “found and used through the project’s app.”
According to the EWO place team, there are two major problems that have been identified by the team at EWO Place. The first of these is that “the costs of rent and buying properties has risen exponentially in the last few years and many tenants and homeowners are being ripped off because of this.”
As a result of this, people are also finding it quite challenging to “explore the world and live in new communities, due to the costs associated with moving.” For instance, renting and getting a home in Hong Kong is really challenging and costly.
It has also been noted that many small communities are “dying.” For example, in Italy, many villages are “becoming deserted as they struggle to entice new people into these communities.” As a result of this, good properties are “being left to ruin.” This puts “further pressure on price increases in the housing market,” the update noted.
In order to address these issues, the solution to these problems has been developed by the team at EWO Place. To combat the problem of dying communities, the project aims to “take over properties in these areas.”
Then, using the app, they will “fill these properties with new tenants who will interact with and become a new part of these communities- bringing in more money and life to the area.” Eventually, through interaction between these new entrants, “the value of properties in the area and the area itself should begin to recover,” the company explained.
For the consumers coming into these properties, the solution “comes from EWO Place purchasing these properties.” They then lent these out “to tenants for either no rent, or a very small rent.”
The main charges given are for the bills to “operate the properties.” This means people can live without “oppressive landlords squeezing them for every penny that they have.” Furthermore, people can get “access to the amenities they need through the app, which allows them to make purchases.” Even if someone doesn’t want to move, they can “make money from properties on the platform,” the firm noted.
Here are some key business highlights shared by the company:
- Pay for what you use not for your stay | #CancelRent – No need to buy or rent a home anymore. Users can stay like a local resident in some amazing locations for as long as they like, paying just to keep the lights on.
- Stay & Stake into Real Estate | #EarnCrypto – For those who don’t fancy moving, simply keeping EWO tokens earns high yield crypto rewards from properties being used by others. A form of Real Estate “Staking” that pays every week.
- Empower communities around you | #LiveLikeLocal – Properties are simple, offer the same amenities and style as locals enjoy. No money is made from rentals, instead, EWO creates a sustainable micro-economy benefiting local people and businesses around the places it operates.
EWO clarified that they only provide longer stays (weeks to months), standardized properties such as studios and one beds, simple and minimal, and users “don’t pick individual properties but a location only, such locations aren’t usually known or well connected.”
EWO’s goal is “demonetize real estate completely, offering ultra-low or zero rents. There is also no host to profit from or intermediaries to pay.”
EWO owns “all properties that it offers on its platform,” the company confirmed.
EWO also does “not compete with other blockchain-related real estate projects as they usually offer tokenized fractional ownership, or simple payment of rent or property purchase with crypto or real estate investment funds.”
EWO Place does “sell experiences and lifestyles (even if at cost), EWO promotes locations based on the local culture on offer.” It also may be seen as “a simple crypto platform for staking (for those who aren’t on it for stays), but even as such, the core is dissimilar.” Usually staking platforms are “based on financial products, lending or trading to offer interest while EWO offers a simple reward, based on its property usage by other members.”
EWO tokens are used as “the platform’s native currency,” the company explained. From paying for bookings to stay to any on-demand service or product offered, “including by third parties.” A portion of payments made are “redistributed as crypto rewards, allowing users to offset their own stays or accumulate more tokens,” the firm noted.
Tokens also remove the need for users “to exchange currency or link bank accounts or cards to use EWO services worldwide.”