Aspen offers cheap resort rooms as real estate tokens struggle

As real estate tokens falter, AspenCoin has announced cash rebates for token holders who stay at its resort.

Despite the broader security token market booming in recent months, real estate tokens appear to be struggling amid the coronavirus pandemic.

AspenCoin (ASPD), the digital security representing fractional ownership in 19% of a five-star 179-room hotel in Colorado, has announced discounts for token holders who stay at the resort to help boost sales.

Holders of between 10,000 and 99,999 ASPD will be eligible for a 20% cash rebate on their stay at the St. Regis Aspen Resort, while holders of between 100,000 and 499,999 tokens will be discounted 35%, and holders of 500,000 or more ASPD can stay for half-price.

Token holders will be eligible to receive the discount for no more than 30 nights per calendar year.

Despite trade for ASPD launching on the leading security token exchange by trade volume last month, Overstock’s tZERO, the token has seen a fairly flat performance and has gained just 4% in three weeks of trade.

By contrast, tZERO’s TZROP token has gained 35% since the start of September.

TZROP/USD : tZERO

Real estate token prices appear to be struggling generally amid the coronavirus slowdown, with all nine tokens trading on RealT posting losses for the month of August. The losses ranged between 1.89% and 24.90%, including four slumps of more than 15%.

Despite the lukewarm performance of many real estate tokens, the security sector broadly has posted historic trade volumes in recent months.

While just $200,000 worth of security tokens were traded for the month of April, volume jumped to $1 million in May, $2.1 million June, $8.1 million July, and $22 million last month. Over the same period, the sector’s market cap has grown from $53 million to nearly $500 million.

Source: Cointelegraph.com

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Passionate about Crypto-Currencies and Bitcoin enthusiast. Oliver is an Editor on Crypto Cool News.

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