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NFT Hotel Bookings That Can Be Resold if You Can’t Make it

2 mins
Updated by Nicole Buckler
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In Brief

  • The hotel and travel industries are adopting blockchain technology
  • Holidays can now be sold as NFTs, and resold if the buyer can’t use it
  • Speculators could theoretically buy NFT holidays months before then flip them as availability becomes tight
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NFT hotel bookings: The travel industries are headed towards the blockchain. They are now using NFTs to sell travel products that can be resold if the buyer can’t make the trip.

The Italian company Takyon have a new product that uses NFTs to represent bookings. The startup wants to make a radical change in the way customers conceive travel.

The mechanism will be based on the so-called resellable rates. A resellable rate allows the guest to sell it and transfer it in case they cannot use their reservation. This new product has come to life in the current economic context, full of changes and volatility.

When a guest books accommodation with a resalable rate, the company generates a nonfungible token (NFT) representing the property. Being an NFT, it can be transferred in a secure and verifiable way to any user anywhere in the world. This is without the need for both parties to know each other. They don’t need have a trust relationship between them.

NFT hotel bookings

Takyon is an innovative startup with three young entrepreneurs behind it – Antonio Picozzi, Giuseppe Monteleone and Niccolò Francesco Marino. The goal is to change the travel booking market in Italy. In just a few days since its inception; the company accumulated 5,000 followers on Instagram and more than 1.3 thousand visits to the website.

Takyon wants to become the tool for booking stays and experiences through NFTs, guaranteeing flexibility, sustainability, and uniqueness to travelers.

The company can transform a reservation into a digital asset (NFT) by removing the name of the buyer and making it resaleable. While doing this, they create a resale rate, which is a non-refundable prepaid reservation fee. It costs, on average, 20% less, compared to the usual refundable rate.

NFT hotel bookings NFTs
Source

New paradigms needed

Antonio Picozzi is the CEO and co-founder of Takyon. He says that travel services, and consequently hotels, need a new paradigm that simplifies the same functions that have been carried out for years. Antonio sees NFTs as the missing piece of the puzzle.

“We want to create a new paradigm in the world of travel booking. This implies moving from the current logic of reserve nominality to having a reserve in the form of NFTs. By doing so, our users will be able to exchange trips and create unique experiences and memories.”

 Giuseppe Monteleone is the CMO and another co-founder of the startup. He prefers to talk about advantages rather than changes.

“There are many benefits for all players in the travel industry and our partners are supporting us. A few days ago we published the first NFT with the Grand Hotel Victoria. It is a flagship property on Lake Como. Other partners are joining us to receive the exclusive benefits of being part of our network.”

Speculators

For speculators, there could come a day when you could buy a holiday package up to a year before the holiday. Then you could sell it to the last-minute folks who are prepared to pay double to secure a trip because they weren’t organized a year ago.

Got something to say about NFT hotel bookings or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

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Andrés Torres
Economist and Data Scientist. Before dedicating himself to the dissemination of the latest technologies, Andres gained professional experience in the Finance, Education and International Development sectors. His dream is to contribute to financial and technological education in Latin America. Andres also holds a Master in Project Management and is a graduate of the second generation of Web3 Talents at the Blockchain Center (FSBC) of the Frankfurt School of Finance and Management in Germany.
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