Are you passionate about historic properties?
Japan is home to a wealth of historical gems, many of which are in need of preservation.
In this blog post, Nick speaks with Tamaki Nishimura to discuss the importance of saving these iconic properties and transforming them into unique vacation rentals.
Podcast Highlights
- Tamaki’s background. Tamaki shares a bit of background about herself.
- What is PlanetDAO. Tamaki explains what PlanetDAO is and the reason behind its name.
- The idea behind PlanetDAO. Tamaki shares how PlanetDAO came about.
- The vision of PlanetDAO. Tamaki shares the vision (or kokorozashi) of PlanetDAO.
- The journey of PlanetDAO. Tamaki discusses how far PlanetDAO has come.
- The first historic property saved by PlanetDAO. Tamaki talks about their first project.
- Local opportunities for future renters. Tamaki shares what future renters can do in the local area.
- Overseeing the property. Tamaki shares who will manage the property once it’s ready.
- A sense of kokorozashi. Tamaki shares how their project provides her with a sense of personal mission.
- PlanetDAO’s upcoming project. Tamaki discusses the next property they plan to save.
- How people can support PlanetDAO. Tamaki discusses ways to contribute to their cause.
- A feeling of ikigai. Tamaki shares how saving historical properties is tied to her ikigai.
Tamaki Nishimura
Tamaki’s background
Tamaki is originally from Osaka but now lives in Kanagawa Prefecture, near Tokyo, with her two kids to enjoy a more nature-oriented lifestyle away from the city. She has a background in startups, with her first business focusing on building a tourism platform similar to Airbnb, tailored for the Japanese market.
The business, which offered local experiences to international travelers, was shut down due to the impact of COVID-19. During the downtime, Tamaki became interested in the concept of decentralized autonomous organizations (DAO) and cryptocurrencies like Bitcoin.
This led her to create her current venture, PlanetDAO, which connects individuals to work toward common goals. She launched the business about a year ago.
What is PlanetDAO
PlanetDAO specializes in transforming unique properties in Japan, particularly temples and properties that individuals cannot typically purchase, such as those with large forests or farmland. These properties often require financial support for transformation, and some, like temples, cannot be owned by a single person or corporation due to their significance in local communities.
The name ‘Planet’ was chosen because, like Earth, no one owns these properties, and the goal is to shift the traditional concept of ownership to a model where multiple stakeholders, including investors, local communities, and municipalities, share ownership.
DAO stands for Decentralized Autonomous Organization, is a term derived from cryptocurrency and blockchain. The original idea was to connect a global community using crypto tokens. However, due to unfamiliarity with crypto wallets and strict regulations in Japan, the company decided not to use crypto for now. However, they see potential in using crypto in the future to address issues related to international currency transactions and enhance their projects.
The idea behind PlanetDAO
Tamaki’s passion for PlanetDAO stems from her previous project, where she connected international tourists with local artisans in Japan. She enjoyed showing visitors a deeper side of Japan and loved witnessing the moment when tourists fell in love with the country. By exposing tourists to the everyday work of local artisans, she saw how it offered new perspectives and boosted the artisans' confidence, inspiring them. Unfortunately, the project was impacted by COVID-19.
“What Japan holds is something that money cannot buy, I think. And the reason why so many international travellers are coming to Japan is that they want to see the culture and history and nature or maybe infrastructure–that's what they're coming to Japan for. But we are not actively preserving those parts of Japan because it's really hard to see the financial value of the cultural history. So I really feel kind of a responsibility to preserve that bit of Japan for the future.” - Tamaki Nishimura
The vision of PlanetDAO
PlanetDAO's goal is to unlock the hidden potential within communities by harnessing the power of collective purpose. The focus is on supporting local communities, not taking the lead in them.
For example, in the Wakayama project, the active involvement of the local community was key to its success. The locals helped connect PlanetDAO to the right people and were invested in the project's success, which led to successful funding and progress.
Tamaki emphasizes that the local community plays the main role in each project, and PlanetDAO's job is to help unlock that potential.
The journey of PlanetDAO
PlanetDAO launched its first project in May of this year, after spending nearly a year developing a legal and business structure that complied with Japan's strict real estate and securities laws. They were fortunate to find a knowledgeable lawyer who understood both real estate and crypto laws, providing valuable guidance.
A major concern was whether their vision would attract enough investors, but after launching, they successfully reached their fundraising goal. Surprisingly, 80% of their investors came from outside Japan, which was unexpected.
Tamaki explains that the PlanetDAO project is not solely focused on financial returns. Many investors see it as a ‘creative investment,’ where they can engage in activities like renovating temples or collaborating with locals to build stone staircases. These investors are excited to receive frequent updates, including pictures, and are eager to support the project beyond just financial contributions.
“I guess it gives you a clear indication of how much foreigners love this special aspect of Japan, this culture, and what they can experience or gain by going there. So I guess they're invested financially, but they're also invested personally, like this is something worthwhile protecting.” - Nicholas Kemp
The first historic property saved by PlanetDAO
PlanetDAO’s first project was located in the Nachi area, which is home to the World Heritage site Kumano Kodo, a pilgrimage route connecting three religions: Buddhism, Shintoism, and the local Kumano religion.
The project centered on Ryogonji Temple, a significant cultural heritage site in Japan. Despite its historical importance, the temple has struggled due to a lack of donations, with only four active supporters.
The local community, introduced to PlanetDAO by a Chief Monk, sought financial support, which led to the project's launch. They successfully distributed 1,000 shares to 134 investors, achieving their goals. Tamaki highlights that many temples in Japan, including about one-third of the country’s 70,000 temples, are facing similar challenges of abandonment and financial instability.
Ryogonji Temple in Irokawa Village, Nachi-Katsuura, Wakayama
Local opportunities for future renters
Their successful project, Ryogonji Temple, is located in the tranquil village of Irokawa. The name ‘Irokawa’ no longer appears on maps due to its merger with other towns, but the locals still identify strongly with the name, reflecting a deep connection to their area. Despite its small, close-knit nature, Irokawa is welcoming to newcomers, with over half of its residents coming from outside the region.
The town is known for its independent living style, where each household maintains its own farm and rice field and shares responsibility for daily tasks like cleaning the local water system. Plans are in place to offer a farm-to-table dining experience, where visitors can pick fresh vegetables and eggs for dinner.
Additionally, a Zen experience is available, guided by a Chief Monk who is an English speaker, which includes meditation on a scenic hilltop with stunning views of the village. Staying in Irokawa itself provides a rich, immersive experience, with opportunities to connect with the local community.
Overseeing the property
The company, Sharewing Co., Ltd., offers a project called Otera Stay, which provides lodging services at temples across Japan. With over 12 temples currently participating, Sharewing has successfully connected PlanetDAO with the Chief Monk, Nishiyama-san. Based on their successful track record with other temples, Sharewing is considered a top candidate for the project.
A sense kokorozashi
Tamaki shares that their project gives her a sense of kokorozashi (personal mission) and is not just about financial returns. The project is driven by passion and heart, with the emotional and community aspects playing a significant role in convincing investors.
She sees the project as a way to save properties and create a system where individuals, regardless of origin, can contribute and preserve local heritage, aligning with their personal values.
PlanetDAO’s upcoming project
The next property PlanetDAO plans to save is the Bamboo Forest House in Hayama, a 7,000 square meter forest land located in a popular vacation area known for its scenic beauty and proximity to the Imperial Villa.
Hayama is a serene, nature-filled location with stunning ocean views, accessible from Tokyo in about an hour. The Bamboo Forest House is secluded, requiring a short hike up a mountain road to reach it, ensuring peace and quiet away from city noise. The spacious land allows for unique developments like an open-air bath, sauna, and yoga deck.
Bamboo Forest House in Hayama, Kanagawa
How people can support PlanetDAO
The biggest way to support PlanetDAO is by investing in their early-stage project. As a Japan-based company, they face challenges in reaching potential supporters and building trust. To build credibility, they've implemented tools like Trustpilot for reviews and welcome any feedback or messages to help improve their cause.
A feeling of ikigai
Tamaki reflects on the deeper meaning of ikigai, which for her is about seeing potential in people or properties and helping them reach it. For her, the mission of PlanetDAO aligns with her own ikigai—unlocking the hidden potential of historical properties and connecting them with global opportunities.
When asked about her personal ikigai, Tamaki shares that lately, she hasn't been able to focus on it due to the demands of raising her young children. However, she values spiritual practices, such as meditation and fasting, which help her think deeply. Although she hasn't been able to dedicate time to these activities in the past two to three years, she hopes to resume them in the future as part of her personal journey.
Conclusion
One of the main reasons tourists flock to Japan is its unique ability to preserve its rich history while embracing modern technology. However, many are unaware that there are still historical sites in need of preservation—places that can also benefit the local communities. You can play a role in saving these properties by spreading the word and helping raise awareness and funding. This way, future generations can continue to experience and appreciate the beauty of these cultural landmarks.