HONG KONG, Jan. 13, 2021 (GLOBE NEWSWIRE) -- LABS Group, the first world's end to end real estate ecosystem platform provider, have announced today they have received strategic investment from YBB Foundation, a renowned venture capital firm focusing on blockchain infrastructure.
YBB foundation is a venture capital firm that was founded in 2013. They have a strong proven track record in their investment portfolio, investing blockchain projects from Vechain, Block.one, Enjin to the latest overwhelmingly popular projects such as Polkadot and RioDefi. It invests significant time and resources in the portfolio companies, providing relationships, and a strategic network to accelerate value creation.
YBB Foundation sees a huge potential in LABS Group as a game-changer in the real estate market, the world's largest asset class with value worth more than $228 Trillion.
"We can see that blockchain in real estate is only the beginning. There is a significant upside potential where Labs can tap into. Given the unique combination of real estate and blockchain expertise in LABS team, we are fully convinced to make this investment," said a representative of YBB Foundation.
"We're honoured to be recognised as a trust-worthy pioneer in the digitised real estate market where LABS Group provides disruptive solutions such as fractionalization, crowdfunding and security exchange. Now backed by YBB Foundation, we are happy to have them onboard as our long term partner. LABS will be achieving a lot through their expertise, network and advice," said LABS Group CEO Yuen Wong.
LABS Group, kick-started since 2018, allows traditional property assets to be fragmented, crowd-funded and traded through blockchain technology, disrupting the way people invest in real estate.
LABS has gained strategic partnership in the blockchain and real estate space around the world, covering America, Europe, Greater China Region, Middle East, etc. For now, LABS has received strategic investment from some top property fund companies. LABS Chairman is a member of the Harilela family, one of the most prominent families in Hong Kong. In addition, LABS Group recently announced its partnership with RioDefi, a top blockchain technology company that developed RioChain.
The LABS team and advisors consist of a perfect combination of traditional business and blockchain experts, coming from prominent HK families, real estate funds, hotels, publicly listed companies, lawyers, venture capital, blockchain and board members from multiple fortune 500 companies.
About LABS
LABS is a digital investment platform that provides access to fractionalized property ownership and enables the continuous trading of real estate assets-backed tokenized shares on a regulated security exchange.
LABS uses blockchain technology and smart contracts to ensure complete transparency over a borderless ecosystem where property developers and investors can interact seamlessly and with unprecedented efficiency.
Real estate and blockchain professionals have brought together their expertise to devise an ecosystem of services that make property investment more accessible, more secure and more liquid. For more information on LABS, feel free to find us on https://labsgroup.io.
Media contact
Company: Labs Group limited
E-Mail: social@labsgroup.io
Telephone: +852 9490 8490
Address: L17, Silvercord Centre, TST Hong Kong
Website: https://labsgroup.io
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/48d10a71-da0a-4d94-a6fc-13fb23e97243