WHITE PAPER
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                  “FIND YOUR PEACE IN PARADISE”
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Overview:

The Bahama Land  NFT project is a unique collection of 7,700 Caribbean-inspired NFTS. Each NFT allows its holder to participate in giveaways including, web3 related prizes and paid trips to the Bahamas. Our key differentiator from other NFT projects is our aim to introduce WEB3 innovation to the tourism market and our determination to focus on sustainability through the implementation of off-chain investments.

Value Proposition & Market Opportunities

According to, The Bahamas - Country Commercial Guide.” International Trade Administration, 16 Sept. 2021,

 “Tourism and related services contribute to approximately 70 percent of the country’s (GDP) and employs just over half of the workforce. In 2022, The Bahamas experienced a recovery in its arrivals as The Bahamian Tourism Development Corporation is leading efforts to diversify the tourism product away from mega-resorts by promoting Airbnb-style accommodations. There are also efforts to prioritize niche tourism offerings.”

This statement made by the “Country Commercial Guide” indicates that The Bahamas is in search of and is actively promoting initiatives that offer innovative accommodations to tourists.

Utility:

Owners of a Bahama land NFT will be eligible to win prizes. Because one NFT grants you eligibility, the more NFTS you own, the greater your chances of winning.

The Bahama Land NFT will Initially reward its winners with merchandise, node prizes and in the later phases, introduce the trips to The Bahamas as a part of the prize pool. As the project and community grow, so will the frequency of the prize giveaways.

Roadmap - The Road Ahead

Phase 1 2022

  1. Bahama Land NFTs begin Minting. 

  2. Purchase a basket of new nodes.

 New nodes entering the market have potentially high upside allowing higher chances of recovering the initial investment. 

  3. After the basket of nodes has been created, the process of selecting our first winners of nodes or other web3 related prizes commences. 

  4. Nodes/Web3 related give away commences for NFT holders bi-weekly.

Phase 2 2022

  1. Partnership Proposals: (TBA) 

  2. Advertising/Marketing

  3. Creation of Bahamian Physical Art for community giveaways

Phase 3 2022

  1. Selecting Winners for Bahamas Trip Giveaways will commence.

  2. Our first trip winner visits The Bahamas. 

Phase 4 2023

It is our aim to complete the following:

  1.  Purchasing land in The Bahamas to build The Bahama Land Village. 

  2. Begin construction on Bahama Land Village. 

  3. Implementing staking of NFTs to reward holders with $SHELL tokens, utility to be determined. 

Experience The Bahamas

 Fishing In The Bahamas

The Swimming Pigs

Swim With The Sharks

The Bahamas consists of 700 islands and cays surrounded by turquoise waters and golden sunsets. We want our community to experience a piece of paradise not only through holding their very own Bahama Land NFT but through personalized activities in The Bahamas. Experience secret sandbars, the world-famous swimming pigs, and catching elusive fish in the turquoise waters of The Bahamas. Adventure awaits The Bahama Land community.

Tokenomics - How Does it Work?

The Minting Process:  

  • There will be 7,700 total BAHAMA LAND  NFTs, of which 207 are White List.There are two groups of Bahama Land Whitelisters.

The Whitelist Pirates: The Whitelist Pirate is providing a steal of a deal (70 FREE Bahama Land NFT's)

The Whitelist Marlins: The Marlin is the Bahamas’ national fish and it's also the mascot of our 100 dollar bill. Persons on this list have the opportunity to mint at a discount. ( 137 NFTs Discounted to 80 USDC

  • The maximum amount of mints per transaction will be 3 ( 30 max per wallet ).

  • There will be a cooldown between transactions of 10 minutes

  • The BAHA NFTS are Priced at 120 USDC on the SOLANA block-chain.

Giveaway Details:

Each NFT acts as a ticket to enter the giveaway. If an NFT wins the giveaway it will not be eligible to win two consecutive drawings. Winning NFTs will have a cool-down period, meaning the NFT will skip the following drawing. This will give community members more opportunities to win.

Initially, our node prize giveaways will be held bi-weekly and as the community gains strength we will, increase the frequency of the giveaways increasing the potential winners. 

In Q4, we intend to alternate between Node giveaways and The Bahamas trip giveaways. More costly rewards such as trips to The Bahamas Trips will be drawn every month to allow for greater sustainability of the project.

How Will We Select Winners:

 A Smart Contract will randomly select Bahama land NFT holders and the node winners will be airdropped the tokens.

Trip Winners:

A winner of the Bahamas trip would be announced in the discord. The winner would be given 7 days to claim their prize. If the prize is not redeemed within that time, another winner will be randomly selected.

Rare Models: This Must Be Rare

The Junkanoo Bahama NFTS are the rarest of the Bahama Land Collection. There will be only 77 of these pieces available, with 7 of the 70 being super-rares. Experience Colorful Costumes and Vibrant dance routines as the sounds of horns, conch shells, and goatskin drums fill the islands of the Bahamas.

Revenue & Expenses

Mint Distribution:

  • 65% Stable Position ( allocated to the construction of the village )

        The funds required to build the village is only an estimate. We’ve over estimated to factor in any unknown costs.

        Any remaining funds can be added to the investment portfolio.

  • 10% Allocation to Future Blue chips eg. DAG, DOT.

  • 10% Invested into Basket of Nodes

  • 10% for Team Development

  • 5%  Marketing Wallet & Misc. Expenses

SUSTAINABILITY

Overview

As The Bahamas and The Caribbean at large make efforts to prioritize niche tourism offerings, we have envisioned a means to align with the initiative taken to diversify tourism away from mega-resorts…by creation of The Bahama Land Village. 

         It is reported that an average of two million people are booking an Airbnb somewhere in the world and many of them are vacationing in The Caribbean. This is reflected in some Caribbean islands experiencing a 300 percent rise in bookings (Morris, 2019). For many decades, hotel chains have dominated the tourism sector but now home sharing allows for the democratizing of the industry. This allows natives to share their country with guests and in our case, with the Bahama Land Community.  Innovation in technology has allowed for everyday individuals to more actively participate in tourism and to create new opportunities through the revenue generated.

         Based on reports made by Airbnb, The Bahamas is among the top ten trending Caribbean destinations, based on their booking data ("Airbnbs of the Caribbean: Top 10 Destinations and Most Wish Listed Homes", 2018). However, The Bahamas did not just suddenly become one of the most sought after Caribbean vacation destinations. In the late 1950s iconic American figures such as Frank Sinatra and Sammy Davis chose The Bahamas as their private getaway. The Bahamas makes for such an ideal travel destination, with its closest island being only a 30-minute flight from Florida. This close proximity to the United States is factored into why vacationers have flocked to the isles of the Bahamas for many decades. It must be noted that over the years the costs of Hotels have steadily increased, allowing for rental properties to become a popular alternative in The Bahamas. These rental properties have provided an affordable alternative for vacationers seeking adventure in The Bahamas. Today, we propose innovation in the homestay experience through the conceptualization of The Bahama Land Village.

THE BAHAMA LAND VILLAGE VISION

Our vision is to create a small village in The Bahamas of six cozy A-frame cabins providing a unique and aesthetic island getaway atmosphere while maintaining a comfortable space for our NFT holders. Each cabin sleeps a small family of three persons and contains a kitchenette for convenience. The village is perfect for the traveler who doesn’t want to fly to the Caribbean only to be stuck in the tourist trap or surrounded by manicured brick and mortar facilities. The village offers that genuine island vibe that many visitors to the Caribbean have been longing for. The plan is to provide on-site activities with native Islanders, from live musical entertainment, volleyball, board games, bonfires, and other group activities. A down-home Caribbean getaway experience unmatched by others.

Our immediate goal is to reach 100%  mint and begin construction on this facility with an aim to begin inviting visitors within the 1st year after breaking ground. Initially, Prize winners will be selected to enjoy an expense-paid trip to the village while the other cabins are rented to non-community guests to assist with the sustainability of the project. As our community grows we intend to continue scaling up by increasing the number of visitors to the village per month. The village would act as a source of revenue for the project while also providing value to community members by allowing them housing in The Bahamas. While construction of the Bahama Land Village is underway our visitors will be able to utilize our hotel-resort partnerships.

BUILDING THE VILLAGE

The Bahamas consists of 30 populated islands, of which we will be considering the top islands producing short-term rental income for the construction of the village ( Nassau, Exuma, Eleuthera, Harbor Island, Abaco.)

        

Building Cost in The Bahamas ( Approximation )

For wooden housing, you have to invest as low as $70 to $85 per square foot in the Bahamas, but a modern home is made up of roof framing with timber and concrete blocks. The cost of this current home would be approximately $110 to $160. Therefore $150 to $250 is the cost of an average home in the Bahamas (hmdcadmin, 2021). As a point of reference, the building costs in The Bahamas is approximately 50% higher than a similar Home in south Florida due to freight, duty and delivery cost to the construction site. However, it should be noted that the building standards are higher in the Bahamas than in South Florida. Below we have provided specs of our vision for the cabin's design.

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The Estimated Price of appliances and beddings
  • Television- $200

  • Fridge- $300

  • Stove- $300 

  • Sinks and Fixtures- $120 

  • Queen Mattress- $200 

  • Toilet- $180

  • Bathroom Sink- $160

  • Total Cost- $1460 ( one structure ) x 6 cabins = $8760

Washer/dryer for washroom- $1000 x 3 = $3000

Total for six structures + Washer/dryers = $11,760

With the model showcased above as a point of reference, we can approximate that each standard cabin would be 320 square feet (20’x16’) with a construction cost per  cabin of $28,000-$30,000. The waterfront cabins will be 500 square feet (25’ x 20’) and are estimated at a construction cost of $44,500 - $45,500 per unit.

Building codes for the Bahamas

It is mandatory practice that the building code in The Bahamas incorporates modern standards. 

Infact, The Bahamas was the first Caribbean country in the commonwealth to have and implement the code in early 1970. Since the implementation of this code, it is now compulsory in building design.

Short Term Rental Data

In the graphed information below, the data provided showcases The Bahamas real estate industry reporting information consisting of rental data from Homeaway and AirBNB. Homeaway and Airbnb are the most readily available public data of which to create a market report. The key data reported by the “ Bahamas Vacation Rental Market” displays  transactions of average daily rate, monthly occupancy, annual income.

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Using the information presented in the charts above, some islands present varying degrees of opportunity. Most islands have significantly less rental units in comparison to Nassau but operate at a similar level of occupancy or less. Additionally, this differentiator also can be a partial cause for the range of average daily rates when compared to the capital city of Nassau.

 Recouping Investment of Property:

We estimate that the village would be built on 2-3 acres of land and with addition of construction, this village is estimated to cost $630,000. Property rates vary depending on the selected island, and the proximity to beaches or canals.

According to the average annual gross revenue chart…rentals in Exuma can produce an average of $90,000 per year with a daily rate of $246 per night, per rental unit. Our vision is to create six cabins which can possibly generate beyond the projection of $90,000 per year.  The revenue generated allows for future sustainment of the project, and further development. 

Terms and Conditions:

Bahama Land NFTS will cover up to $2000 of your plane ticket. Please note that the crypto markets are volatile and adjustments may be needed to compensate for team node changes or the overall market climate. ELIGIBILITY: Must be eighteen (18) or older to win. The winner be will be randomly chosen once 85% of the supply has been minted. Winners will be notified via discord. CONDITIONS: Prizes are non-transferable. The giveaway is subject to federal, state, municipal, and local laws and regulations and is void where prohibited.