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 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.
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.”
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.
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.