PlanetDAO001 Inc. is launching “PlanetDAO,” an investment project aimed at historic buildings such as temples rooted in local communities. The first property involved is a temple near Kumano Kodo, registered as a Tangible Cultural Property. Reservations for detailed briefings and investment applications can be made through our website.
PlanetDAO operates as a legally incorporated DAO, marking the first such initiative in Japan.
Application URL: https://planetdao.world/
Challenges with Private Funding for Temples and Historical Community Hubs
With Japan’s ongoing increase in vacant houses, expected to rise alongside population decline, many such properties include historically significant temples and shrines, which are pivotal as regional symbols and community hubs. This makes it difficult for private individuals or businesses to take on the risk of transferring or financing these historical properties. Moreover, solely local efforts often struggle with financial support and developing management methods or systems suitable for modern times, posing a preservation challenge across many regions.
Japanese Vacant House Boom and Its Challenges
The recent depreciation of the yen has heightened interest from foreigners in purchasing Japanese vacant houses. Most buyers plan to use these properties as second homes and operate them as lodging facilities when not in personal use. However, finding individuals or companies to manage these houses post-purchase, especially for lodging operations, proves difficult, with actual purchases being few. Additionally, various issues, including disputes with local residents, are arising.
Given the predicted increase in inbound travelers, the opinions and financial support of foreign investors are crucial for the success of Japanese accommodations in the international market. Against this backdrop, domestic residents and foreign investors are collaborating to develop a sustainable business model that respects cultural values while pursuing economic benefits, leading to the establishment of PlanetDAO.
Product Overview
PlanetDAO revitalizes historical buildings, including temples and shrines, into lodging facilities, ensuring their preservation through sustainable management. It raises funds from domestic and international investors, offering them a share of the profits and the opportunity to participate in business decision-making. This approach adopts new fundraising and management models, promoting democratic participation in the preservation of cultural heritage.
While owning historical buildings typically involves high barriers, this project utilizes investments to allow broader participation. It also fosters close cooperation with local residents, enhancing cultural values while honoring community commitments.
Issuing Different Classes of Shares for Diverse Membership and Community Coexistence
PlanetDAO consists of a diverse membership of investors, experts, and local residents, issuing different classes of shares tailored to specific purposes and arranging decision-making processes accordingly. For instance, even if property ownership changes, certain areas of a property operated as a temple or lodging facility remain publicly accessible to locals, protecting values important to the community.
Features and Prospects of Ryogonji Temple, a Registered Tangible Cultural Property in Nachikatsuura
The Irokawa district, while no longer officially recognized due to municipal mergers, is still referred to as “Irokawa” by locals. This area, historically significant as a haven for defeated warriors from the Heike clan, has developed unique agricultural methods suited to its harsh natural environment since the Meiji era, particularly thriving in organic farming. Currently, about 300 people reside in this district, with over 60% being migrants from urban centers. The increasing population and openness to change, including new technologies and concepts like DAOs, add to the land’s allure.
The main temple, built 170 years ago, has served as a crucial place of prayer in the region. The construction techniques of the main hall and the stone steps leading to it were recognized, leading to its registration as a national tangible cultural property in 2021. However, following the death of the previous chief priest, the number of temple supporters has decreased to just four, posing financial and operational challenges for preservation relying solely on local resources.
Collaboration with a Local First-Class Architect and ‘Sharewing’, One of Japan’s Largest Temple Stay Operators, to Revive Properties as Private Lodging
In this project, a partnership is considered with Mr. Shigeo Morioka, a local first-class architect, and ‘Sharewing‘, one of Japan’s largest temple stay operators. Mr. Morioka is known for his designs deeply rooted in community engagement and plays a central role in the renovation plans. Operational aspects are under consideration for collaboration with ‘Sharewing’, which operates nationwide temple stay services, and Rev. Jukai Nishiyama of the popular Temple Hotel Daitaiji in Nachikatsuura.
This partnership will transform the properties into private lodgings offering unique experiences not typically available in daily life, such as seasonal community events. These experiences aim to encourage participation in the local community and offer a deep understanding of Japanese culture and traditions.
This initiative seeks to maximize the potential of regional cultural heritage as new tourist attractions while preserving it.
Target Business
Business Type: Lodging facility operations
Location: 1422 Ono, Nachikatsuura, Higashimuro District, Wakayama Prefecture
Target Property: Ryogonji Temple main hall, living quarters, and land
Era: Built in the fourth year of Ansei (1857) / Repaired in the late Meiji period
Structure: Single-story wooden construction, tiled roof
Building Area: 199 m² (main hall only)
Planned Total Investment & Number of Shares
¥34,540,000 (¥34,540 per share × 1000 shares)
Projected ROI
9.0% (after tax)
Schedule
2024
May 15 to June 28: Fundraising period
July to September: Design phase
October: Start of renovation construction
Spring 2025: Start of lodging operations
Partners
‘Sharewing’ Co., Ltd., which operates temple lodgings nationwide (currently managing 11 temples as of 2022), is the prime candidate for managing the lodging facilities. ‘Sharewing’ has created a successful model of continuous full booking with inbound tourists using Takayama Zenkoji in Hida Takayama. Further details are available for download on our website.
Application Details
Applications and participation in online briefings are available through our website.
Comments
PlanetDAO founder
PlanetDAO is established as a new mechanism to preserve Japan’s rich nature, culture, and history. Despite the ongoing depreciation of the yen, it may be challenging for Japan to achieve economic growth at the pace of its high-growth periods, but Japan possesses invaluable intangible assets that cannot be quantified monetarily. These include welfare, natural environments, and historical cultural resources, formed over thousands of years and not quickly recreated. Currently, over 30 million travelers worldwide are enchanted by the hospitality, nature, history, and culture that Japan offers. It is essential to build mechanisms to preserve these attributes appropriately over time. This is why we have established PlanetDAO.We have launched the project with Ryogonji Temple in Irokawa as the first base. Our initial goal is successful fundraising, followed by tackling properties with similar issues in 10 locations nationwide over the next three years. Additionally, as the project progresses, we plan to obtain related real estate licenses and eventually develop a system that allows investors to fluidly trade dividends and voting rights using blockchain technology.
Ryogonji Temple Chief Representative
Ryogonji Temple has long been a symbol of communal prayer, where many residents have gathered. However, with advancing depopulation, the number of temple supporters has drastically decreased, making it challenging to maintain the temple. This project hopes to revive Ryogonji Temple as a place of tranquility and healing. In Japan, the scenes of swaying rice fields in the countryside are considered the quintessential Japanese landscape, but the rural lifestyle itself is on the brink of extinction. We sincerely hope that the revival of the temple will trigger various local initiatives, sparking powerful movements of regional rejuvenation that spread across different areas.
