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- Blockchain technology is being used in the hotel and travel industries
- Holidays can now be sold as NFTs and resold if the buyer can’t use them
- Speculators could theoretically buy NFT holidays months in advance and then flip them when availability gets tight
NFT hotel reservations: Blockchain is becoming increasingly popular in the travel industry. They are now selling travel products that can be resold if the buyer is unable to make the trip through NFTs.
A new product from the Italian company Takyon uses NFTs to represent bookings. The startup intends to fundamentally alter how customers envision travel.
The so-called resellable rates will serve as the basis for the mechanism.In the event that the guest is unable to use their reservation, a rate that is resellable allows them to transfer it and sell it. In the midst of a volatile and shifting economic environment, this brand-new product has come to life.
NFT hotel bookings
A nonfungible token (NFT) representing the property is produced by the company whenever a guest books a room at a rate that can be sold. Because it is an NFT, it can be transferred to any user in the world in a secure and verifiable manner. This does not necessitate that either party be familiar with the other. There is no need for them to have a trusting relationship.
Takyon is an innovative startup founded by Antonio Picozzi, Giuseppe Monteleone, and Niccol Francesco Marino, all of whom are young entrepreneurs. The objective is to alter Italy’s travel booking market. Within a few short days of its inception; The company gained over 1.3 thousand website visits and 5,000 Instagram followers.
In order to provide travelers with flexibility, sustainability, and uniqueness, Takyon hopes to become the tool for booking stays and experiences through NFTs.
By making a reservation resaleable and removing the buyer’s name, the company can turn it into a digital asset (NFT). They create a resale rate, which is a non-refundable prepaid reservation fee, while they are doing this. When compared to the usual refundable rate, it typically costs 20% less.
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New paradigms needed
Takyon’s CEO and co-founder Antonio Picozzi calls for new paradigms. He asserts that travel services, and as a result, hotels, require a new paradigm that simplifies previously performed tasks. Antonio thinks that NFTs are the missing piece.
They want to establish a new standard for travel booking. This means abandoning the reserve nominality logic and creating a reserve in the form of NFTs. Their users will be able to exchange trips and create one-of-a-kind memories and experiences by doing so.
The CEO and another co-founder of the startup is Giuseppe Monteleone. He talks more about benefits than about changes.
Their partners are supporting us, and there are many benefits for all players in the travel industry. They published the first NFT with the Grand Hotel Victoria a few days ago. It is a prominent Lake Como property.In order to take advantage of the exclusive advantages of joining our network, additional partners are joining us.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
