Application Scenarios - The proposal focuses on the heavy asset accommodation sector, such as hotels and homestays, utilizing blockchain technology to convert physical assets like rooms and properties into on-chain digital tokens. This model breaks down barriers between consumers, investors, and operators, creating a new business loop of "assets as rights, consumption as investment" [1] Core Algorithms and Mechanisms - The future operational revenue rights of hotels over the next five years are broken down into standardized, tradable digital rights certificates (NFG), with each NFG corresponding to a fixed number of stays and a share of hotel operating profits [3] Profit Sharing and Value-Added Mechanisms - NFG supports transfer, splitting, and secondary market trading, allowing users to convert idle accommodation rights into investment targets, achieving a flexible transition of "consumption as investment" [4] Revenue Sharing - When users hold NFG for hotel stays, the hotel charges a service fee of 10% of the room rate. NFG holders share in the overall operating dividends of the hotel, with the value of rights increasing in line with revenue growth. The final value of a single NFG is calculated as total hotel revenue over five years divided by the total issued amount, with an annualized appreciation rate of (final value - issue price) / issue price / 5 years [5] Addressing Core Pain Points - The RWA solution addresses traditional hotel challenges such as heavy assets, slow return on investment, and poor liquidity through several means: - Alleviating financial pressure by enabling early capital recovery, achieving "issuance equals monetization" - Activating asset liquidity through tradable rights - Lowering participation costs by supporting fractional subscriptions - Enhancing user retention by allowing consumption to equate to investment, sharing operational dividends - Providing a flexible exit path through transferable and appreciating rights [6] Design Logic and Value - Using Hotel A as a case study: 20,000 NFGs issued at a price of 2,000 yuan each, raising a total of 40 million yuan. Each NFG includes 10 accommodation rights and a 10% service fee on room rates. Over five years, total stays amount to 450,000, with 200,000 stays using NFG rights and 250,000 from walk-in customers [8] Value Appreciation - Conclusion: A user purchasing one NFG for 2,000 yuan can stay 10 times, with the rights value reaching 3,175 yuan after five years, achieving fourfold benefits of "stay, save, earn, and invest" [9] Policy Alignment - The proposal aligns with national calls for "digital transformation" and "asset securitization," driving smart upgrades in the accommodation industry. It revitalizes dormant fixed assets into tradable digital rights, solving industry liquidity issues. The model transforms "one-time consumption" into "long-term co-construction," enhancing user retention and repurchase intent. Risk is shared among multiple stakeholders, effectively dispersing operational risks and reducing individual pressures. Service income is calculated as 20,000 stays at 30 yuan each, totaling 6 million yuan, while walk-in customer profits from 250,000 stays at 230 yuan each amount to 57.5 million yuan, leading to total revenue of 63.5 million yuan. The value per NFG is 63.5 million yuan divided by 20,000, equating to 3,175 yuan, with an annualized appreciation rate of 11.75% [10] Summary - The proposal leverages blockchain for asset confirmation, asset fragmentation, and circulation platforms, promoting the transformation of hotels from "heavy assets" to a "light asset, high liquidity, and co-development" digital ecosystem, achieving quick capital recovery, strong user binding, and stable asset appreciation for a three-way win [13]