Short-term Rental Permit NFTs

Short-term rentals are a contentious topic among cities and towns, partially dude to the fact that the permits required to operate a STR are either too difficult administer/enforce, or too inexpensive relative to their true value.

By administering STR permits on the blockchain, cities would have better control and visibility over how many permits were minted and verify the authenticity. More importantly, distributing the permit NFTs via auction would force STR operators to compete for a defined number of permits, driving up the cost to more accurately resemble the demand-based value. Furthermore, requiring hosts to display display the NFT on their listing would allow cities to easily audit hosts/listings and take action against those not in compliance.

STR platforms such as airbnb and vrbo could build such platforms, ensuring that STR properties and their permits were tied too the respective platform, making double listing more difficult, and the booking complications that come with double listings less common.