frequently asked questions
Below are a collection of frequently asked questions, if there is anything else you would like to know please feel free to get in touch.
Q. What is the effective nightly rate under this membership?
The member benefits and inclusions ,outside of the accommodation are worth slightly more than the cost of the membership itself effectively making the accommodation free of charge. If however you just used the accommodation the effective nightly rate is $183 per night. This is a 54% discount on the standard night rate of $395
Q. Why is the membership so much cheaper than buying the services outside the membership?
Given the member is pre paying the costs are significantly reduced.
Q. How long is the membership valid for.
The membership never expires
Q. Do I need to own crypto currency to purchase the membership
No. You can simply pay by Credit card which in turn acquires the digital membership on your behalf. If you have etherem crypto currency you can also use that to pay for the membership
Q. Will the value of the membership increase or decrease?
The value of the membership benefits will grow over time. The average room rate is circa $395 per night, that same room rate is expected to be over $440 in 5 years making the membership more valuable. The memberships can be sold using Etheruem crypto currency meaning the value of the membership could go up or down based on the value of that currency. That said if you plan on purchasing the membership for the redeemable benefits the currency fluctuation would have no effect.
Q. How do I resell the memberships if I no longer use it?
You can list your membership for sale on the likes of the trading platform https://opensea.io
Q. Can I resell the membership if its partly used?
Yes you can , the more benefits that have been redeemed the less value the membership will have but the market will determine the value.
Q. When will the accommodation open?
The lodge is due to open in Q2 2024
Q. How do I book to stay at Kitea (the hotel)?
You book at the hotel website (ww.kitea.nz) and insert the unique booking code you will be sent with your membership
Q. How do I organise use of the bikes, boats, SUPs etc…
You simply do this at the hotel
Q. How do I book the cars & boat?
You do this directly with the hotel once you have made your accommodation booking.
Q. How many memberships are being sold
A maximum of 650. Limiting the number is aimed at making sure room is always available accommodation and it may also help drive up the value of your membership as demand exceed supply.
Q. Could the value of my Membership go up in value?
Yes, this is common with NFT’s. Some people choose not to use the benefits associated with the membership and instead trade it for profit.
Q. Can my friends or family use some of my member benefits?
No the membership is not transferable to other people, this said your room nights allow you to share the room with one other person.
Q. Can I sell some of the membership benefits?
No benefits are not transferable however the membership can be resold.
Q. Why is this membership being sold via the blockchain and not just currency?
The membership to be purchased via credit card or using Etherum and can be re-sold via digital platforms like https://opensea.io It also makes it a limited traceable asset . See more detail under the Fully Flexible tab.
