NFT market to grow and shift to utility solutions in the luxury hospitality

NoMo SoHo Hotel Is The First Hotel to Helm New NFT Frontier in the Hospitality Industry.

Hoteliers are creating practical use cases using NFT technology. NoMo SoHo Hotel Launches the Nation’s First NFT With Hotel Stay Experience.

NoMo SoHo and its ownership, the global real estate and investment firm, Sapir Corp, launch a curated NFT, making the hotel the first in the U.S. to offer guests an innovative new way to book stays using blockchain technology. Located at the nexus of fashion, design and culture in downtown Manhattan, the sleek 26-story, 264-room NoMo SoHo, managed by Highgate, is the tallest building in the SoHo neighborhood, flaunts sweeping panoramas of the city skyline and is home to the neighborhood’s famed NoMo Kitchen restaurant and the newly opened cocktail bar Nina’s x Liquid Lab.

Using SolidBlock’s platform and technology, NFTstays, a selection of specially curated NFTs, are packaged with three- to six-night stays at NoMo SoHo.

Guests booking these packages will have access to exclusive preferred rates at competitive prices by purchasing an NFT depicting a recognizable part of the iconic hotel. NFT options include The Lovewall in NoMo Kitchen and “The Tunnel of Love,” the hotel’s iconic archway at the main entrance. The NFT packages start with three-night stays and are priced from .41 ETH, which at launch is valued at USD$836. In tandem with plush guestrooms featuring 10-foot floor-to-ceiling windows and luxury amenities, additional perks when booking an NFT include late check-out, complimentary breakfast, a welcome amenity and more.

Sapir, owner of NoMo SoHo, partnered with SolidBlock, a leading tokenization platform for real estate, to debut this NFT offer available only in a limited quantity. Guests will have the distinct opportunity to secure special NFT member rates with additional benefits for their upcoming stay without being beholden to a specific date.

This move to offer NFTs including hotel stays follows Sapir’s recent development of Arte by Antonio Citterio, a luxury oceanfront boutique condominium in Surfside, Miami, where a $22.5 million condominium sale in June 2021 using cryptocurrency broke several records in Miami as the first development to facilitate a cryptocurrency transaction, the most expensive price per square foot for a penthouse sold in Surfside, and the second highest in Miami Beach since 2017.

“We’re incredibly proud to be the country’s first hotel to helm this new frontier,” says Alex Sapir, Chairman of Sapir Corp Ltd. “Our NFT offerings will provide NoMo SoHo a competitive edge and more importantly, flexibility for each of our discerning guests. As demand for the use of digital assets and digital currency increases across the globe, we are once again proud to serve as industry leaders. Through our partnership with SolidBlock, we are modernizing our practices to accommodate tech-savvy audiences while laying the groundwork for the future of real estate, just as we’ve done with record-breaking sales at Arte in Surfside.”

“We are creating a new reality in the hospitality arena by providing an innovative and attractive experience to our guests. The guest will be able to secure the rates and simultaneously enjoy a secondary market reflecting the increasing demand for room nights and the revamp of the New York hospitality market post COVID. Making the connection between tangible services and non-tangible assets is an initiative which we intend to continue and develop offering many more advantages to the limited number of NFT holders that will choose to join us,” said Sharon Raz, CEO of Sapir Corp Ltd.

“SolidBlock is reframing how we use NFTs by creating practical use cases using NFT technology to bring unique value to the hospitality sector and its guests. NFTstays helps hotels leverage Web3 blockchain technology to give their guests additional options and flexibility. This program will give the NoMo SoHo an edge that will increase revenue and hotel occupancy rates.” – SolidBlock CEO and Co-Founder Yael Tamar.