The entire blockchain space has been waiting for real world utility of the immense breadth of technology solutions built by web3 innovators. Mostly restricted to digital realm, impact on day to day lives of people are yet to be seen. Buk Technology is working on making this real in the travel space by creating a distribution ecosystem and secondary marketplace for hotel room bookings.
How many times have you lost money for hotel or travel bookings because of non-refundable clause or booked too late? Industry benchmarks say 15% of the time, almost everyone!
July 19, 2023 at 9:38 am
Updated July 19, 2023 at 9:38 am
Enter Buktrips.com, a game-changer in the world of travel, built by Buk Technology, offering an innovative solution to the pesky problem of cancellation fees with resellable hotel rooms, and creating a new revenue stream in form of royalties for hoteliers. Buktrips takes things a step further by introducing a groundbreaking feature: the ability to trade real-world utility in the form of hotel room NFTs.
Everyone knows how the prices of hotel bookings increases around F1 race dates, music concerts, New year Eve, conference and many more. But never did a market exist to enable trading of this Real world service, accessible to travellers and retail participants. Buk calls this concept Real-world Service tokenization – ability to tokenize and financialize any service industry which operates on perishable inventory. Up until now, NFT trading has primarily revolved around digital collectibles, mesmerizing artworks, and vibrant JPEGs that transport us into a realm of digital artistry. While we’ve undeniably relished these experiences, it’s time for a new revolution to take shape. BukTrips is attempting to bring the power of web3 tokenization to real world services and financializing them, via NFTs.
This is how it works – When you book a stay on buktrips.com, your confirmation comes in the form of an NFT—an NFT that encompasses all the essential metadata and finds its place on the blockchain and can be viewed on major marketplaces like OpenSea and Rarible. The NFT itself can be traded as many times as required. For every trasnfer the hotel whose inventory is traded gets a trading royalty. The person holding the NFT on the date of check-in can prove ownership and enjoy the services it entails. Tokenization here ensures no duplicate or spurious bookings, while making it easily transferable and tradable. And users can make booking today by paying via Cryptocurrencies. Credit card based purchases are in the immediate roadmap as well.
Image: BukTrips.com website snapshot
BukTrips is one of the very few players in web3 with some major backers – Polygon, Expedia, Priceline and many others are supporting at different levels.
While BukTrips is already live, they are set to launch NFT hotel room trading on their platform in September 2023. Hotel stays during sought-after events and destinations often skyrocket in price, but Buktrips has got you covered with their well-stocked inventory as they are powered by Expedia, Priceline and others with 700,000+ inventories across 200+ cities. And here’s the exciting part: you can trade these hotel rooms and turn a profit.
It’s an opportunity to dip your toes into the thrilling world of crypto trade while enjoying tangible real-world benefits. But that’s not all. BukTrips recently has launched an exclusive community program focused on sharing insights on how to trade hotel rooms via their Travel Traders’ Lounge. An elite community of hoteliers, travel agents and traders will share their insight to give the best alpha out there. The Whitelist to join this exclusive community of trader’s is now open. Simply visit the Early Access page on the header of buktrips.com, hit the Priority Access button, and join the Trader’s Lounge!
The future of tokenized trading is here, and Buk Technology is at the forefront of this remarkable evolution. This is an interesting use-case with real world utility and all eyes are on Buktrips as they unlock the full potential of trading hotel room NFTs.