Rent your next apartment with cryptocurrency
Stayawhile, a New York-based company building a global network of furnished apartment rentals for medium-term lengths of stay, will become the first real estate platform to utilize blockchain-based utility tokens as a store of value and security measure. The company announced the launch of Stayabit, an ERC-20 Ethereum token, which will be sold in a crowdsale beginning on October 30.
“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,” said Janine Yorio, the company’s Founder and CEO.
By integrating blockchain technology into its platform, Stayawhile will help facilitate seamless cross-border payments and security deposits, assess creditworthiness of individuals who may not have a U.S. credit score, and be able to offer booking priority and discounts.
Stayabit (STAY) tokens will be sold starting at a price of $1 per STAY token during the sale, which will run from October 30 through November 30. Pricing discounts will be available to early buyers and there will be additional bonuses for large purchases. A private pre-sale will begin on October 15, during which time tokens will be offered at discounted rates of up to 40%.
Stayawhile is a global network of furnished, branded, designer apartments. 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. The apartments are joined by both aesthetic and technology, which makes moving between them seamless and hassle-free. Stayawhile is based in New York City and led by an experienced management team with a depth of experience in real estate, hospitality and technology development.