AspenCoin has announced some cash rebates for all their token holders who stay at its resorts while the other real estate tokens falter. Despite the general security token market booming in recent months, the real estate tokens seem to be struggling as the effects of COVID-19 continue to bite.
The digital security representing fractional ownership in around 19% of a 5-star 179-room hotel in Colorado, AspenCoin (ASPD), has now advertised discounts for the token holders who spend their time at the resort to assist in boosting sales.
— Stephane De Baets (@StephaneDeBaets) September 16, 2020
Holders of 10,000 and 99,999 ASPD qualify for a 20% cash rebate on their stay at the St. Regis Aspen Resort. On the other hand, the holders of 100,000 and 499,999 tokens will enjoy discounts of up to 35%. On their part, the holders of 500,000 or more ASPD can stay for half-price.
Notably, token holders qualify to get the discount for not more than 30 nights per calendar year. Despite the trade for ASPD launching on the leading security token exchange by trade volume in August, Overstock’s tZERO, the token has experienced a fairly flat performance and has gained about 4% in three weeks of trade.
TZROP/USD : tZERO
On the contrary, tZERO’s TZROP token has increased by 35% since the start of September. Real estate token prices seem to be struggling generally amid lockdown slowdown. All the nine tokens trading on RealT posted significant losses in August.
The losses ranged between 1.89% and 24.90% which includes four slumps of over 15%. Despite the lukewarm performance of a majority of the real estate tokens, the security industry has widely posted historic trade volumes in recent months.
While just $200,000 worth of security tokens were traded for April, volume increased to $1 million in May, $2.1 million June, $8.1 million in July, and $22 million in August. In the same period, the industry’s market cap has thrived from $53 million to nearly $500 million.