STAY OPEN Launches Non-Fungible Tokens To Unlock Stays

By Sarah Bendorf.
Updated Dec 2, 2021

LOS ANGELES (PRWEB) December 02, 2021 - STAY OPEN, the Venice Beach-based stay-and-play hub for digital nomads and creatives, today announced that it will offer a brand new, limited edition collection of NFTs created by local artists, each including a voucher for a future stay at its first location, an oceanfront Frank Gehry-designed space just steps from the Pacific Ocean.

An NFT assigns an immutable unit of data to digital items like photos, videos or audio and mints that to the blockchain to authenticate ownership. STAY OPENs NFTs will feature original art and collaborations with local artists and will be available on the OpenSea platform (https://opensea.io/collection/stayopennft). Each NFT will be sold for ETH 0.0083 ($35) and will contain a unique code that will allow the NFT owner to redeem a future stay, even when the nightly rate is higher on the desired date. Local artists who create NFT content for STAY OPEN will receive a complimentary stay in addition to a royalty any time the NFT is sold.

We are crazy excited to use blockchain technology and NFTs as a way for people to buy incredible digital art with utility, said Steve Shpilsky, CEO and Co-Founder of STAY OPEN. Our average nightly rate is now $69, so someone can buy the NFT today for $35 and redeem either right away or later during the summer when average rates will exceed $69. Blockchain allows for the NFT owner to easily and securely gift or transfer the NFT to someone else.

There is so much potential utility to NFTs within the hospitality and real estate space, added Shpilsky. This is just the tip of the iceberg. Our NFTs are like digital gift cards that you dont lose and will still look cool in your digital NFT gallery after youve redeemed the stay. Its an awesome way to show brand affinity.

STAY OPEN, the Sleep As a Service platform converting empty commercial real estate into affordable pod hotel and residences, recently opened its first location in the vibrant Venice Beach community, and plans to open several properties in California in the coming years.

About STAY OPEN STAY OPEN is a collection of affordable, tech-first, design-forward pod hotels and co-living properties that encourage social connection and exploration. The Sleep as a Service platform founded by Steve Shpilsky and Andrew Swerdloff aims to democratize travel, provide flexibility, breathe life into forgotten real estate, and revitalize communities. The brand launched its first socially engaging pod hotel and co-living residence in Venice Beach, California in 2021 with full-service pod hotels in San Diego and Los Angeles to follow. STAY OPEN pod hotel designs will vary at each location, ranging from a one-story commercial space in one city to a modern multi-story property with a rooftop bar and lounge in another.

For more information, please go to http://www.STAYOPEN.com

MEDIA CONTACTS:

Media@STAYOPEN.com