web3 travel industry

Web3 Is Proving Itself in Travel

A preview of one of phocuswright's travel innovation and technology trends 2023 : roundup: web3 is proving itself in travel.

By Norm Rose

After years of hype, 2023 is proving to be a pivotal year for Web3 as this set of decentralized technologies is now delivering concrete, measurable value to the travel industry. Many Web3 companies have only emerged within the last several years but are already driving changes in the way travel is booked, paid for, exchanged and settled. 

Critics who characterize Web3 as a technology looking for a solution may be surprised to learn that some Web3 startups are actively generating revenue and decreasing costs throughout the travel industry. Clearly, Web3 has moved from concept to practical use cases, and is poised to grow rapidly in the value it provides to the industry. 

Examples abound around travel. Phocuswright's latest travel research report on the topic Roundup: Web3 Is Proving Its Value in Travel includes a full summary of concepts in play today, with specific examples. Below are excerpts from the full report:

• Efficiency and lowering cost of payment/settlement
• Transforming loyalty
• Creating a direct distribution environment for airlines, hotels and short-term rentals
• Enabling large hotel chains to connect directly with their most favored distributors
• Creating NFTs (non-fungible tokens) for hotel reservations and airline tickets
• Promoting attribute-based selling of hotel rooms
• The emergence of dedicated ecosystems governed by the travel industry

Separating the Hype From True Business Impact 

As with any emerging tech trend, expectations are often inflated, especially on day-to-day travel business practices. In the case of Web3 and blockchain, the promise for a new, decentralized travel infrastructure may seem far away as traditional Web2 players still dominate all aspects of travel booking and distribution. But things are changing fast. 

There are dozens of startups focused on some aspect of Web3, with new startups emerging monthly. Many of these startups are providing travelers with new capabilities and flexibility while impacting overall cost of distribution and settlement for industry players. 

Reviewing the Landscape  

The full report contains an in-depth summary of 17 companies that are achieving real-world success by implementing Web3 technology. Sources for company information include vendor conversations, vendor websites, PhocusWire articles and Web3 Travel Tech Startups by Mauricio Prieto. 

The full report includes:

• How the company is using Web3 technologies
• Value to the travel industry
• Current progress and traction
• Outlook for 2023

Image captions

Web3 is still in its infancy, but the momentum is only accelerating on development. There are many looming challenges for Web3 companies. Based on the updates discussed above, these challenges are finally beginning to be addressed and it’s only a matter of time until adoption reaches critical mass. 

Notably, major tech companies and organizations are laying the foundation for interoperability between decentralized identity (SSI) and decentralized applications. This represents a major step necessary to bring the full Web3 vision to life. Forward-looking travel companies will be planning for this phase when it arrives. 

This article is part of a content series that explores some of the most impactful innovation and technology-driven trends that will influence the travel industry in 2023 and beyond.

• The Future of Social Media, Influencers and Social Commerce in Travel 
• Web3 Is Proving Itself in Travel 
• Green Travel Innovation Now (Yes, Now!) 
• No Travel Experience Necessary: More Outsiders Enter the OTA Market
• Generative AI: Transforming the Travel Cycle
• Real-time Revolution in Hotel Operations 
• eVTOLs in Travel: Viable Addition or Flights of Fancy? 
•  Super Apps’ Secret Sauce 

Watch the online event that covered each trend, presented by Phocuswright analysts:

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Web3 Travel Tech Startups

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Note: things are moving fast on the Web3 front, this post was updated on June 5th to make sure that it reflects the latest relevant information.

I contacted (all the links take the reader down to each of the startups’ section) DTravel , Xeniapp , WYTLAND , Pinktada , Stay Open , and New Frontier , four travel startups trying new models around blockchain, web3, and creator economy.  These are the questions I asked:

Brief description

What is the problem or the unmet need that you trying to solve?

Who should be happiest and who should be most worried about what you are bringing to market?

What stage of development 1 are you?

Which are the specific metrics/KPI that you are most closely watching?

Any metrics/traction that you can share?

What new element(s) are you introducing that address some of the characteristics and possibilities enabled by Web3 models and blockchain technology?

Will you be compensating early users/partners/contributors to your platform with tokens? How so?

Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

Here are their replies to these nine questions.

1.1 Brief description of DTravel

Dtravel will provide short-term rental hosts and property managers with infrastructure that enables them to accept on-chain bookings via a new web3 ecosystem. The Dtravel ecosystem blends the freedom of direct booking sites with the simplicity of online travel agencies, offering unrivaled ownership and control over the entire booking process. 

Hosts set their own booking terms, freely determine the content they display and retain a significantly greater portion of their earnings. Guests benefit from better rates, more meaningful rewards and expanded payment options with cryptocurrencies.

Dtravel’s long-term vision is to leverage web3 technologies to enable community members, including hosts and guests, to work together to build and realize the full potential of a community-owned travel experience. As the number of community members grows, this community-owned and led travel ecosystem will mold into a decentralized autonomous organization (DAO), empowering community members to directly shape the future of the Dtravel ecosystem by submitting proposals, voting on them and contributing to their execution.

1.2. What is the problem or the unmet need that DTravel is trying to solve?

Property Hosts:

Lack control over money, policies, and relationships with their guests.

Don’t receive adequate compensation from the value they contribute to current booking platforms.

Lack a voice in influencing the future direction of the platforms they participate in.

With greater control, more equitable compensation and a louder voice, Dtravel’s goal is to give hosts the ownership they deserve when it comes to their business.

Pay more than they should.

Aren't rewarded for their loyalty with meaningful or exclusive rewards programs.

Have limited payment options for travel.

In developing the guest experience for Dtravel, these problems have been singled out as core focuses.

1.3. Who should be happiest and who should be most worried about what you are bringing to market?

Dtravel caters to all existing and future hosts and guests who are interested in managing or booking short-term rentals. Within that group, Dtravel is especially appealing to individuals who seek greater independence from online travel agencies and understand the promise of cryptocurrencies and decentralization. 

Dtravel is the natural progression of travel for the internet’s web3 evolution. In the not too distant future, it will be an open platform for all types of individuals and companies to contribute to in a variety of ways. We welcome anyone who wants to contribute to a new short-term rental ecosystem and invite them to join Dtravel in executing on our mission.    

1.4. What stage of development is Dtravel at (please refer to Note 1)?

Dtravel is currently evaluating product-market fit. We recently signed our first partnership with a property management system (PMS) provider and are set to launch the second iteration of the platform in May 2022 with a group of early adopters.

Property managers and hosts interested in using Dtravel can create an account on Dtravel.com, import their listings via Hostaway and get started on their web3 hosting journey today!  

1.5. Which are the specific metrics/KPI that you are most closely watching?

The metric we will be watching most closely — and the one everyone can publicly see — is the number of on-chain bookings. When a booking is processed via cryptocurrency, the funds initially sit in a smart contract escrow account before being released to the host once their selected cancellation window lapses. All of the booking activity will be recorded on the blockchain. 

In addition, we  will be closely tracking the number of hosts, number of listings (which can also be verified on the blockchain, based on each listing having its own booking smart contract) and number of guests. 

1.6. Can you share any metrics/traction?

We have many deeply engaged hosts involved in our Host Beta Program, plus thousands of others we plan to offer access to in the near future. Dtravel also has a major Property Management System partnership with Hostaway.

1.7. What new Web3 elements are you introducing?

Since web3 is built on decentralized blockchain technology, there’s no middleman when using Dtravel. Instead, Dtravel functions as a tool that facilitates direct transactions between hosts and guests using automated payments via smart contracts.

Dtravel will also utilize other web3 technologies like the TRVL token and the Proof-of-Travel Passport. 

The TRVL token is the native token of Dtravel, powering its self-driving economy. It derives its utility from four purposes; travel, loyalty, protection and governance. 

The Proof-of-Travel Passport will give travelers the ability to build their own online identity that shapes their world of travel. Stamps will be issuable to a traveler's NFT passport from participating travel partners, allowing them to build their own travel credentials on-chain. This technology will enable travelers to own all their data from participating travel platforms, while the same platforms can access on-chain data to implement unique, highly personalized web3 marketing campaigns.

1.8. Will you be compensating early users/partners/contributors to your platform with tokens?

Early property hosts using Dtravel are entitled to earn tokens in our Founding Partners program. For every booking completed on Dtravel, hosts are entitled to a 5.0% TRVL giveback based on the value of their booking. 

In the near future, we will expand the program to include special incentives for guests.

1.9. Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

Dtravel is advised and led by former executives from Airbnb, Expedia and other global technology companies, and is supported by world-class venture capital investors. The seed round saw over $7m in funds raised, entirely through purchases of the TRVL token. 

Potential strategic investors in the TRVL token are encouraged to reach out to core contributors.

2.1 Brief description of Xeniapp

Xeniapp is an operating system for travel for the Web 3.0 economy – powering anyone seeking to sell travel online. Our system allows our clients to instantly launch a web-based storefront, a booking engine with wholesale travel inventory, a custom-for-travel CRM, and a blockchain based payment settlement engine.

2.2. What is the problem or the unmet need that Xeniapp is trying to solve?

We identified three massive pain points in the travel industry:

Accessing wholesale travel inventory is incredibly difficult, but experience sellers can’t earn commissions without it.

Launching a booking engine, featuring a broad selection of travel inventory, is technologically complex and incredibly expensive – but many experience sellers want to offer this on their website for their clients.

Payments in travel are slow, expensive, and unsecure – more so than in other industries – due to the complex nature of transactions (cross-border currencies, multiple counterparties in each transaction, biggest target industry for credit card fraud). In many countries, payments for travel can’t even be made with a credit card due to excessively high fraud rates. Disputes among counterparties occur often, and resolution is difficult since each counterparty uses a separate booking ID.

Xeniapp’s system solves these three pain points at once, by providing a white label-able booking engine loaded with travel inventory at wholesale rates, all while recording and settling every transaction on the blockchain.

2.3. Who should be happiest and who should be most worried about what you are bringing to market?

Experience sellers and inventory suppliers are happiest with our product. Experience sellers can now launch a customized booking engine and bookings management system in minutes – saving them hundreds of thousands or millions of dollars in tech expenses. Inventory suppliers see a huge new distribution channel – they can now access sellers they couldn’t reach before (because of the high tech and working capital hurdles inherent in distributing their product). Both parties can receive instant settlement of their transactions and reduce fraud by using XeniPay, our blockchain settlement engine.

Travel consortia and tech platforms, who respectively siphon off experience sellers’ commissions or charge huge upfront and monthly fees, could be disintermediated by our system. Credit card companies could also lose one of their biggest sources of revenue as transactions move to blockchain based settlement.

2.4. What stage of development is Xeniapp at (please refer to Note 1)?

Xeniapp is in the growth phase. We have a several-thousand client deep wait list to use our product, but we are launching it in phases with early clients starting December 15th.

2.5. Which are the specific metrics/KPI that you are most closely watching?

Number of users

Transaction volume per user

Commission rate (take rate on bookings volume)

Customer Satisfaction

Customer adoption

Cost per transaction on the decentralized network

Reduction of Fraud

The mode of payment (Fiat Vs. Crypto)

Tracking account disputes against the ledger entries – We will be watching for all the edge cases in the system

2.6. Can you share any metrics/traction?

Not yet. The product is launching on December 15th with 3 initial clients.

2.7. What new Web3 elements are you introducing?

I would say creator economy dynamics – We are democratizing the Online Travel Agency space by allowing anyone to build their OTA at a fractional cost. Furthermore, we will enable them to operate in Xeni's decentralized ecosystem.

We have built a decentralized application (dApp) where travel agents, airlines, flights consolidators, hotel companies, accommodation wholesalers, car rental suppliers, tour operators, cruise companies, and any similar travel company can access a shared ledger - a shared repository of bookings information. The XeniPay application tracks transactions for all connected intermediaries and suppliers in real-time. XeniPay enables instant settlement, greatly reduces the total payments cost of a transaction, and facilitates accounts reconciliation across counterparties.

2.8. Will you be compensating early users/partners/contributors to your platform with tokens?

Yes – we will be launching a coin offering in the future and we will be using a portion of the coins as incentive tokens. The full tokenomics will be available in our white paper. Work in progress on that front.

2.9. Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

We have recently completed over $2M in seed funding from Angels and HNWI. We are not looking to traditional VC at this time.

3.1 Brief description of WYTLAND

WYTLAND is a decentralized social commerce Travel platform, designed for Travel creators, brands and modern travelers.

3.2. What is the problem or the unmet need that WYTLAND is trying to solve?

As the travel industry is entering its 3rd revolution, traditional travel distribution channels are broken :

Modern travelers (GenZ) are shifting from search platforms to social media platforms.

Modern travelers trust people, not ads anymore.

Leading Web2 travel platforms such as Booking, Expedia or Tripadvisor are still relying a lot on search and ads and are keeping all the value from suppliers who want to escape but can’t.

Social Media platforms are shifting from Ads model to an E-commerce model but are keeping all the value from creators who want to escape but can’t.

This is where WYTLAND comes in with its new Web3 Social OTA model.

3.3. Who should be happiest and who should be most worried about what you are bringing to market?

The happiest people within the Travel industry will be Suppliers (Accommodations & Experiences) who are still 70% dependent on middlemen & don’t get access to their data. And Travel Creators who try to live from their passion but struggle within this siloed and fragmented ecosystem.

The most worried should be the monolithic, centralized and commoditized Online Travel Agencies and all the other middlemen platforms in this online travel industry market.

3.4. What stage of development is WYTLAND at (please refer to Note 1)?

WYTLAND is entering the PMF stage.

3.5. Which are the specific metrics/KPI that you are most closely watching?

We’ll closely watch a bunch of KPI’s:  number of Travel Creators onboarded, GMV paid to Creators, number of brands onboarded, global travelers reached, conversion rates on direct monetization.

3.6. Can you share any metrics/traction?

It’s too early to talk about metrics and traction but we already are speaking with our community of Travel Creators and Brands to define the product.

3.7. What new Web3 elements are you introducing?

WYTLAND is using blockchain for different needs at every stage of the product road map. The first layer we are working on is the decentralized data management and infrastructure layer to ensure our users that their data, content and IP are safe and that they own their online shop. 

We are also discussing with our community to build a DAO for product vision & strategic orientations.

NFT’s and Social Tokens are more in the monetization product road map later in 2022.

3.8. Will you be compensating early users/partners/contributors to your platform with tokens?

WYTLAND will contribute to early travel creators governance tokens. Being community-led is part of our DNA.

3.9. Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

WYTLAND is going Pre-seed in January 2022 with Angels & VC’s focusing on Creator economy, Social commerce, Web3 & new consumer app models.

4. Pinktada

4.1. brief description of pinktada .

Pinktada is a membership-based, leisure-focused, marketing and reservations platform that delivers an unparalleled user experience. Our technology leverages tokenization to deliver a significantly more efficient reservations marketplace. Hotels can increase the sales of non-refundable reservations, while travelers maintain the flexibility to swap or sell their reservations if their plans change. 

4.2.     What is the problem or the unmet need that you are trying to solve? 

The first problem we solve is the loss of value that occurs with an inefficient distribution model that has not evolved in 20+ years. Take for example the binary, refundable/non-refundable pricing structure: for travelers, best pricing comes without flexibility. For hotels, best pricing comes without revenue certainty. With Pinktada, best pricing and flexibility come hand in hand.   The second problem we solve is commoditization. Current booking options do not enable hotels to display their unique attributes effectively. By the same token, guests do not really know what they are getting until they arrive. Pinktada’s user interface combines experiential and transactional capabilities—travelers can explore different properties and accommodations in 3D, and reserve rooms and amenities directly from this immersive experience.

4.3.     Who should be happiest and who should be most worried about what you are bringing to market? 

Both hotels and travelers should be happy! We are using technology to create a more efficient model and, with that, enable both segments to capture more value. Incumbent distributors who currently take a large slice of the pie will likely be less happy though.  

4.4. What stage of development is Pinktada at (please refer to Note 1)?

Stage 2- Product-Market Fit

4.5.     Which are the specific metrics/KPI that you are most closely watching?  

Hotel pipeline, member acquisition and engagement. We are already seeing transactions and know these will grow with our hotel pipeline and user base.

4.6.     Can you share any metrics/traction?  

We are on track to hit 25 – 30 hotels by the summer in our current target markets (Hawaii, different locations in Mexico, Dominican Republic, Bahamas, San Juan, and San Francisco, among others)

4.7. What new Web3 elements are you introducing?

At Pinktada, each combination of hotel + room + night becomes a distinct token, called a Room-Night-Token (RNT). The RNT is fully tradable on our platform—the owner can use it, sell it, or swap it for any other RNT in our marketplace.  

Pinktada offers hotel partners and their guests the ability to create personalized, commemorative NFTs. The NFT is co-branded between Pinktada and the hotel, and travelers can customize it with visual assets from their trips. These NFTs can also have utility value (e.g., a special coupon for the NFT owner to share with family and friends) and collectible value in the case of travel experiences that are iconic and unique (e.g., a historic hotel or the room where a celebrity once stayed). 

4.8. Will you be compensating early users/partners/contributors to your platform with tokens?

We are already compensating early users and partners in several ways: by informing them first of exclusive deals, offering special promotions, and by rewarding their referrals with PinkCash, which is a type of credit that can be used for any destination on Pinktada and never expires. 

4.9. Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

We have raised seed money from a combination of industry leaders such as Terry Jones (Founder of Travelocity and Chairman of Kayak), prominent angels (Wharton Angels, New York Angels) and TGV4 (True Global Ventures), a leading firm in the space of Web3 and Blockchain. We have just started talking to people about our next raise and are delighted to have received sustained commitment from our current investors.  

5. Stay Open

5.1 brief description of stay open.

Stay Open operates pod hotels for digital nomads in repurposed buildings and gives a portion of proceeds to help unhoused people. Stay Open’s objective is to expand its hotel network as quickly as possible while keeping prices affordable for its guests. Stay Open’s first location, Stay Open Venice Beach, is a 10-pod hotel that has serviced over 2,000 guests since opening its doors in 2021.

Stay Open recently minted a membership NFT with day 1 utility. NFT members receive a 15% discount for life and will be airdropped $TAY, $WRK, $XPR, and $GOV tokens to be used for free stays, coworking space, experiences, and StayDAO treasury governance respectively (more on StayDAO below). You can view all of Stay Open’s NFT utility here.   

20% of proceeds generated from membership NFT sales will go towards StayDAO's community governed treasury to fund initiatives that help unhoused people. Additionally, a portion of Stay Open's operating revenue will be donated to StayDAO's treasury to continuously fund social impact initiatives.

5.2. What is the problem or the unmet need that you're trying to solve?

Awesome yet affordable accomodations for digital nomads and travelers.

The time it takes to create a hotel. Stay Open can repurpose a building into a hotel in months versus the years it takes to build a traditional hotel.

Web3 allows for ways to bridge virtual and IRL communities bonded by in person stays, events, and collaborations. Stay Open’s membership NFT offers a way to build a community around the mission and provides a new way for people to travel. Additionally, it's easily transferable so members can gift or sell their tokens as opposed to traditional hotel points which are illiquid.

Online travel agencies (OTAs) take a ~15% cut from bookings. Stay Open will utilize its membership NFT to incentivize direct bookings then give the savings back to members in the form of discounts. 

5.3. Who should be happiest and who should be most worried about what you are bringing to market?

Digital nomads should be happiest; people seeking great accommodations with a communal vibe and coworking space in coveted locations at an affordable price. Traditional hotels, online travel agencies, and Airbnb should be most worried.

5.4. What stage of development is Stay Open at (please refer to Note 1)?

Stay Open is in its growth stage. The company is currently working on expanding its property network and growing its online and IRL community of NFT members.

5.5. Which are the specific metrics/KPI that you are most closely watching (be as specific as possible please)?

NTF Memberships minted

Occupancy rates

Number of beds in the network

Number of locations 

Twitter, discord, and other social media followers 

5.6. Can you share any metrics/traction?

Raised ~ $2.9M to date

2019: Partnered with Port of San Diego & CA Coastal Commission to convert a former Budget Rental Car to 240 bed hotel

2021: Stay Open Venice Beach opened Oct 2021 operating at 85%+ occupancy

2021: MetaProp VC 2021 Accelerator Program Anchor & Portfolio Company

2021 Q4: Sold out of beta NFT stay vouchers

2022: 5 star Google reviews

2022 Q2: Launched stayDAO NFT Membership

2022: Opportunity to open a 100 pod hotel in Santa Monica, CA in a repurposed office.

2022: Featured in WSJ & NYT. Approaching 1k twitter followers. 

5.7. What new Web3 elements are you introducing?

Stay Open is introducing a web3 booking portal for its hotel. It will allow members to book stays with their NFT discount and redeem free stay, coworking, and experience tokens. In addition, they are building a community marketplace to buy, sell, trade, and gift tokens.

5.8. Will you be compensating early users/partners/contributors to your platform with tokens? How so?

Stay Open has used NFTs as compensation for creative work including videography, which they plan to do more of in the future. 

5.9. Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

Stay Open has raised $2.9M to date from seed investors and are working with an exclusive group of strategic investors on their $4M institutional seed round. Investors may email Steve Shpilsky, CEO / Co-founder, at [email protected] for pitch deck and more info.

6. New Frontier

6.1 brief description of new frontier.

New Frontier designs innovative tourism engagement using VR, NFTs and the Metaverse. We do this by creating gamified experiences, treasure hunts, challenges and trails that use both the real world and the virtual world. These experiences can be physi-digital (layered on top of a real world visit) digi-physical (incentivise real world visits through virtual experiences or hybrid (move between both worlds during the experience). This interview at Enjins podcast " The Enjin Room " gives a good background to what we are doing.

6.2. What is the problem or the unmet need that New Frontier is trying to solve?

Travel trends are changing, not just because of the pandemic but also because research shows that there are variations intergenerationally, which need to be addressed. Research at last year's national conference indicates 26% of travellers want immersive experiences before, during or after a real world visit. This number will increase as GenZ become the primary consumers.

The issues we are trying to solve are threefold:

To create new sources of revenue for the Travel sector that do not directly depend on numbers through the door, which used to be the primary metric. There is a pivot to quality of experience as the key metric heading to 2030 goals, which is caused by COP 20, Covid, general awareness of carbon effects, cost of living crisis etc.

Attractions we are working with are usually looking for ways to engage specific demographics interactively as the primary goal, with encouraging other groups within their visitor profiles to try the technology as a secondary aim.

We are also emphasising the importance of education and community involvement in the discovery of NFTs and Metaverse as new technologies. This helps reduce fear/risk of trying new technologies and encourages a voice and participation for all key stakeholders in this development process.

6.3. Who should be happiest and who should be most worried about what you are bringing to market?

We are part of a Blockchain/NFT/Gaming network and official partners with Enjin, who are  one of  the creators of NFT technology (ERC 1155). We have over 100+ games, virtual worlds and other solutions that our NFTs can tap into, meaning we belong to the biggest network of its kind that this technology could be used in. We also have working relationships with two key metaverses: Decentraland and Sandbox, which are number 1 and number 2 in terms of user numbers.

There are a number of use cases that we have been investigating with the partnership of tourism bodies in Scotland and Mexico beyond simply the “engagement through gamification” angle. Other use cases include the use of NFTs as part of Loyalty and Reward schemes, anti-counterfeiting in food & drink , Identity verification of official staff, reservations and bookings and this list is not exhaustive. The benefit of NFTs versus other ways of doing this is the verification/immutability of NFTs on chain, the utility that can be added to NFTs that create unique personalised journeys, access to additional content and versatility of solutions. 

Ultimately, who should be happiest is any attraction that is looking for economic recovery from the pandemic as we offer new routes to revenue generation/engagement and those who want to be “future proof” in engaging younger people, through early experimentation and evaluation.

6.4. What stage of development is New Frontier at (please refer to Note 1)?

We began trading in September 2021. We have received our first income, delivered our first NFTs to an attraction, and have a healthy pipeline of other clients in Scotland and the wider world. We have an excellent working relationship with tourism bodies in Scotland and joined the Traveltech cluster at the University of Edinburgh.

6.5. Which are the specific metrics/KPI that you are most closely watching?

We broadly use the KPIs devised by Quinn (2021) for the evaluation of NFT projects but we have made amendments to it where applicable. For example, measuring floor prices of NFTs is not a primary objective for our clients, since the objective is to use NFTs inclusively, not exclusively. 

6.6. Can you share any metrics/traction?

We have a very specific methodology for our projects that involves presenting to the attractions sector, identifying pilots, evaluating those pilots (with the attractions sector) and then going to full deployment. This is deliberate because it emphasises community involvement, thorough evaluation and education for the attraction, visitors and the local community, which is key to get buy-in with a new technology.

We provided a webinar to The Association of Scottish Visitor Attractions (ASVA) which was rated as “excellent, inspirational and thought-provoking” by the attendees. It led to a paid commission for us from ASVA and Traveltech for Scotland to develop an interactive guide and toolkit for the attractions called “The Metaverse Playbook”. This is designed to explain the technology and show the steps needed to deploy a solution using case studies and stories from our early adopters. This was extremely well received and since then the CEO of ASVA has become an advisor and mentor for us and supported us in getting our first attractions on board. We have also had newspaper articles and interviews around this and one of our early clients, The Great Tapestry of Scotland: The Press and Journal , South of Scotland Destination Alliance , Traveltech for Scotland .

We are also working with  Dundee Business School to create an empirical study into the economics of NFTs in tourism.

The Great Tapestry of Scotland project has grown from a small test pilot into a much bigger project:

NFTs based on themes from the Tapestry (the past)

Community contributed designs for NFTs (the future)

An App for learning about the Metaverse for the Discovery Centre at the Museum that is also going out to all Schools in the region (but is already getting recognition UK wide). Initially 15000 students aged 14-22 will receive the app in local schools & colleges, but visiting students from other parts of Scotland also will, within the museum education centre.

An interactive treasure hunt that partly takes place in the real world and partly in the Metaverse.

A Virtual Reality Gallery showcasing the NFT tapestries.

Training of volunteer “Digital Champions” who will assist with general queries about NFTs when nftfrontier.io is not on site.

In addition to this we are also working actively with Visit Arran. Arran is an island in the Scottish Hebrides and we are creating an island family adventure that is also a physi-digital experience.

There are a number of other projects in early stages in Scotland, wider UK and Mexico as well.

6.7. What new Web3 elements are you introducing?

In the main, tokenization, utility based NFTs, collections/ownership of experiences to encourage tourists to continue experiences after they return home and events within the metaverse. As we collaborate with games developers within our network we are also working on cross-compatibility of our NFTs with a significant number of games and virtual platforms. We are actively working with Enjin’s COO Caleb Applegate to utilise our experiences as a way of launching and showcasing blockchain gaming.

6.8. Will you be compensating early users/partners/contributors to your platform with tokens?

We are currently creating  our documentation for an IDO of our native token, $TAY . 10% of the tokens will be allocated to the team including mentors, advisors and partners. Included with $TAY is a treasury to support the attractions sector through a hardship fund.

6.9. Funding status.  How are you approaching your fundraising needs (traditional VC, angels, tokens, etc...)

To date the business is bootstrapped by our own capital. Although this arguably makes the process more difficult in terms of establishing ourselves, we felt we needed to have tangible /verifiable progress and the right partnerships in place before asking for investment. We intend to use the  token release for capital raising but if the right VC can offer specific advice, support or access to markets, we would consider an investment and/or a combination of investment + tokens.

Problem-Solution Fit : Validating the problem you believe exists, and then validating the solution you believe will address that particular problem (typically for a particular type of user / market, etc.) Product-Market Fit : Validating that the product you have built resonates with your target market, and validate that the same market will pay money, data, attention, time, or another resource in exchange for your product Growth : Acquiring more users, customers, or clients, and understand the unit economics of your business model along with the underlying drivers of the unit economics. Market Leadership : Achieving market dominance, or obtain enough market share that your business is financially sustainable, can invest in R&D, product development, and other long-term growth areas. Scaling : Entering new strategic growth areas (typically new geographic markets, new product lines, or new applications of existing tech) that will provide the most value to the business, users, society, or other stakeholders.

Ready for more?

Web3 in Travel: The Implications for Businesses and Travelers

Web3 and its associated technologies, like blockchain, may be considered groundbreaking for myriad reasons. However, one thing that has led to their widespread adoption is their capability to revolutionize various aspects of our day-to-day life, including how we travel.

Although the travel industry is dominated by large business entities operating in a centralized way, travel experiences can become far more secure and traveler-friendly with the integration of web3. Why so? Because blockchain technology is at the heart of the web3 revolution. And since blockchain is a shared, distributed and encrypted digital ledger that serves as an irreversible and incorruptible public database of stored information, it can bring transparency, safety and accountability to several critical touchpoints.

Although web3 in travel shows promise for businesses, governments and travelers alike, consumers will likely be the biggest beneficiaries as web3 in travel ensures streamlined and seamless travel experiences with a higher degree of autonomy for travelers. Before we dive deeper into the discussion around web3 in travel, let us touch upon the basics, starting with the meaning of web3.

What is web3?

Implications of web3 for the travel industry, what aspects of travel are most impacted by the web3 movement, two most important benefits of web3 in travel.

Web3 is the most recent iteration of the world wide web, characterized by decentralization. As mentioned above, web3 obtains the quality of decentralization based on blockchain technology.

Web3 is still evolving; thus, no web3 definition that has so far been put forward can be considered complete. However, one thing that needs no further clarity is that web3 lays the groundwork for a truly decentralized world, where nothing is under the top-down oversight of centralized entities.

Blockchain-based applications and services are slowly gaining steam, with a lot of money being pumped into their development. Web3 in travel also uses machine learning, artificial intelligence and other advanced technologies to create more adaptive and intelligent applications. Not much surprisingly, travel and tourism is among the industries that have benefited the most from the web3 movement.

Now that we have understood the concept of web3 let us see how it has helped the travel industry to evolve.

Stability and security are two of the most important benefits web3 in travel offers. A blockchain’s decentralized nature implies that transactions recorded are always traceable; hence, information cannot be lost or deleted accidentally.

The travel industry relies heavily on information exchange between companies. Travel agents must pass on customer information to hotels and flight companies. Personal belongings of travelers are also often shared between companies and are tracked. Any hindrance in the flow of such information can hamper travel experiences significantly. Cases of information loss or incorrect information being passed can worsen the situation. When it comes to web3 in travel, blockchain technology helps information flow to take place seamlessly. Since the entire network of nodes responsible for running a blockchain shares responsibility for data storage, accessing and storing passenger data becomes a hundredfold easier when it is done in a decentralized way.

Financial transactions are also an essential part of web3 in travel. Blockchain technology can not just simplify but also secure payments. This is especially true for overseas transactions. Blockchain can potentially increase trust between all parties involved- from airline companies and travel agencies to hospitality businesses and travelers.

Reservations

With more people willing to splurge on traveling, travel prices are shooting up. The prices are rising primarily because vacationers and tourists try to seize every available opportunity in the travel space. This has led to people paying more for their vacation than they would want to and even missing the opportunity to travel for being unable to afford the trip.

This sudden rise in prices has become a subject of worry for travelers. Thankfully, blockchain technology may be of help here. Blockchain-based travel booking platforms are easy to use and bring greater transparency and security to the table. BitBook is one of the many booking platforms that operate in the blockchain space. However, what sets it apart from its contemporaries is that it allows users to make travel reservations and earn cryptos for doing so.

It’s worth noting that such blockchain-based travel booking platforms allow you to make reservations for hotels, vacation rentals, car rentals, airlines and the like.

Web3 in travel also provides startups and scale-ups a great opportunity to compete in a market dominated by central entities.

Unfortunately, hotels are compelled to pay huge commissions on bookings and payment processing under the current centralized system. This makes it seemingly impossible for startups to compete in the industry.

While the travel industry may not have had much choice before, web3 in travel can prove revolutionary in addressing this obvious gap.

But how are decentralized applications operating in the domain of web3 in travel different from routine applications? Although the front-end experience is very familiar for both guests and hosts, the real difference lies in the transparency and control at the back end enabled by smart contracts created on a blockchain.

Embark on your web3 journey with our future-ready web3 solutions.

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Identity verification and management

Blockchain-based identity verification and management are most useful at airports. Passengers must use multiple centralized systems when they move through an airport.

A decentralized identity management solution can make it easier for passengers to travel through airports by creating a mesh of “trust networks” using blockchain technology. These trust networks do share or consume passenger identity information, but they also ensure data privacy at the highest level.

Passenger identity information flows through these networks using Decentralized Identifiers (DID)-based proofs. Decentralized Identifiers (DIDs) are a unique type of identifier that enable verifiable, decentralized digital identity. They allow only the necessary information to be revealed to specific systems and users.

What are the networks involved in such a DID-based solution?

• Permissioned trust network of airports- This network concerns trusted and known entities of an airport.
• Permissioned trust network for airport security services- It applies across all the airports present in a country.
• Permissioned trust network for passengers & government bodies- This network is for passport issuance, visa issuance etc.
• Permissioned trust network for ground handling services- Concerns the service providers in an airport.
• Permissioned IOT network- This network is for all the devices within an airport.
• Permissioned trust network for retailers and financial services- Concerns all providers operating at an airport.
• Permissioned trust network for customs department- It applies across all the airports present in a country.

All trust networks other than the permissioned trust network for passengers and government bodies issue proofs as decentralized identifiers with respect to each stage of the passenger’s movement within the airport. The information is recorded into a blockchain ledger using DID documents.

To confirm their identity and be eligible to fly from the airport on a particular flight, the passenger must provide their DID document.

The blockchain-backed decentralized identity management solution offers the following benefits-

• Decentralization
• Interoperability
• Data immutability
• It’s a proof-based system, and hence, trackable

This decentralized solution allows passengers to move seamlessly through different airport stages without worrying about their privacy. The solution is built on the trust networks that exist between and within airports. These interim DIDs remain valid only for the duration of the travel. Such a solution can increase airport operational efficiency and reduce wait times for passengers. In the future, airports might see an increase in the adoption of blockchain technology as a result of the government’s regulations on the safe exchange of passenger information and standards.

Loyalty programs

Blockchain-based loyalty reward programs are a great solution for both businesses and customers. While businesses can use them to lower loyalty program costs and boost loyal customer behavior, customers can have faster reconciliation and more lucrative earn-and-burn opportunities.

Rewards programs are a strategic investment that most businesses want to capitalize on. However, customer loyalty and engagement programs have the potential to make or break companies. Although they are growing rapidly and being widely adopted, they have certain loopholes, such as the lack of a uniform management system. As a result, members don’t remain active in such programs.

With blockchain technology, it is possible to help customers realize the full potential of loyalty programs. Blockchain technology can be used to improve efficiency, reduce costs, and increase brand loyalty in any organization, from banks to airlines.

Here are some of the most important benefits of blockchain backed-loyalty rewards programs-

1. Cost reduction

While blockchain has upfront costs, the savings you make on system management, transactional operations, and customer acquisition are significant. With smart contracts enabling secure, traceable, and transparent transactions, a blockchain-based loyalty reward program can reduce system management costs considerably for businesses across industry verticals.

2. Creating a frictionless system

Accessing and managing rewards with a blockchain-based loyalty reward program is a breeze. Customers can have their rewards credited to the same crypto wallet they will use to redeem rewards for their hotel stays. Blockchain’s trustless and decentralized technology makes loyalty reward programs highly streamlined and efficient.

3. It involves a near real-time process

Blockchain allows transactions to be recorded and accessed in real time by multiple parties. This helps loyalty reward program providers to credit points speedily.

A secure environment

Blockchain is a distributed, immutable digital database that records transactions efficiently. It enables easy tracking of transactions and renders them irreversible. Resultantly, the scope of double spending, fraud, or any other manipulation of transactions gets eliminated.

Digital payments

Blockchain integration can improve travel in many ways but primarily facilitates secure and traceable payments. In today’s world, booking flight tickets is not just easy but also fast. The process can be further simplified by using blockchain technology. Winding Tree, a blockchain-based distribution platform for the travel industry, facilitates booking hotel and flight tickets at lower transaction costs. Airline companies like Air New Zealand have also used blockchain technology to simplify their ticket-selling process, resulting in fast and secure payments, transactions and checkout.

DeFi payments eliminate the need to use third-party payment apps for digital payments, as payments can be made directly between the parties involved. Blockchain technology also has the potential to make payment gateway companies such as Visa and MasterCard obsolete. This powerful technology enables you to walk directly into an airport and board a flight without waiting in long queues for verification and other formalities. Blockchain-based payments reduce the time it takes to complete payments.

Governments can also use blockchain technology to offer a faster and more secure payment experience to those who use public transport. Blockchain, teamed with AI and other advanced technologies, can eliminate the need for physical tickets for bus, rail and other transport services. A single database can be used to track a user’s journey across all modes of transport. Even for customers, a single identification and payment method will allow access across transport services.

Blockchain is also useful in eliminating the need to have physical documents in travel-related processes. Blockchain replaces physical documentation with digital contracts, also known as smart contracts. Digital contracts are trackable, which means they prove to be handy in the event of a dispute. The consumer can view a digital copy of the agreement to understand its terms and conditions thoroughly.

No agent fees or involvement of third-party intermediaries

Since blockchain runs on a peer-to-peer network, blockchain-based travel solutions and services eliminate the need for intermediaries or middlemen. Many travel companies, therefore, use blockchain technology to capitalize on this unique attribute. For instance, S7 Airlines, a Russian airline company, uses blockchain technology to issue and sell tickets. The private blockchain that it uses runs on Ethereum and uses smart contracts to exchange information between parties. This has sped up the settlement process between agents, airlines, and passengers from 14 days to only 23 seconds. The platform is actively being used, and the value of monthly transactions through its host blockchain is in the millions. Since no third party is involved, there are no agent fees and commissions payable.

Insurance against flight delays and overbooking

Many airlines now use blockchain technology to automate the compensation payment process for passengers who have either been denied seats due to overbooking or whose flights are delayed. French insurance company, AXA, uses blockchain technology to offer insurance covers for flight delays. The process of compensation payment involves smart contracts. Thus, when a customer’s flight gets delayed by a certain amount of time, the compensation automatically gets paid. Compensating for the denial of a seat due to overbooking is also a practice followed by many popular airlines, such as United Airlines.

Blockchain technology has attracted a lot of attention from across industry verticals. As far as the travel industry is concerned, blockchain manifests in amazing ways. Significant amounts of money are also being pumped into new ventures catering to users’ and businesses’ needs pertaining to web3 in travel.

There is no denying that traveling is overwhelming for passengers, both physically and mentally. Inefficiencies in administrative workflows can add extra stress to people’s travel experiences. Blockchain technology can significantly improve the customer experience by recording every transaction entry on the blockchain for improved security, transparency and traceability of information. This reduces inefficiencies considerably. Different travel businesses, from airlines to hotels, are also using blockchain’s disruptive technology to improve their operational and service capabilities. And what does all this translate to? Improved efficiencies for businesses and better travel experiences for customers.

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Web3: What does it mean for the travel industry?

Dorien van Driel

03 august 2023, read time: 15 mins, share this post.

Have you ever asked yourself where you left your encyclopedia the last time you used it?

Probably it has been a while since you wondered about that: after all, you were already closer to the world wide web to help you answer your original inquiry within a few clicks before you could ask yourself that other question.

The internet — we take it for granted, almost forgetting that it has come a long way. The next station of the internet is called Web3. With technology advancing rapidly in recent years, the transition to Web3 could completely transform how we use the web. 

First, we must know what’s there already on board the internet train. What exactly does the term ‘Web3’ mean and what is this development all about? And how will Web3 impact the travel industry?

Let’s go and make that journey to find out. 

The development of Web3: the empowered user edition

Simply said, Web3 is set to be the third generation of web technologies. It’s the vision of a future generation of web technology, evolving from our current Web2. 

That journey started with Web1 in the 1990s and early 2000s in a mostly read-only format before our current Web2 technology began with the emergence of social media. 

The term ‘Web3’ was coined in 2014 by Ethereum co-founder Gavin Wood, and according to the company, “Web3 uses blockchains, cryptocurrencies, and Non-Fungible Tokens (NFTs)   to give power back to the users in the form of ownership." [1]

Web2 evolved to allow for engagement and user-generated content. 

However, despite the possibility for internet users to create, post, and share their own content, critics of our current web technology explain that most online activity is controlled and monetized by only a few top tech companies. 

For example, Google currently controls 85% [2]   of the global search market.

The rapidly increasing volume of data is also a concern for web users, and one of the core features of the high-velocity train of Web3 is its aim to empower users by ensuring data security, removing centralized ownership, and allowing users to have control over their own data.

Decentralized ownership with Web3

Web3 is not a regular advancement in technology — it’s forecasted to be a revolutionary shift in the entire way we experience and use the internet.

In fact, to empower users via decentralized ownership, Web3 applications run on blockchains, decentralized networks, or a combination of both, rather than running on a single server.

Blockchain is an essential element in explaining the decentralized function of Web3. It’s a system of recording information in a way that makes it difficult or impossible to change, hack, or manipulate the system.

It facilitates the process of recording transactions and tracking assets in a business network. Think of assets being tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

Some of the core values of Web3 that point directly at user benefits are: [1]

Decentralization: Ownership is distributed equally amongst web builders and users.

Permissionless access: Everyone has access to participate in Web3, there is no governing body.

Security : Web data is encrypted, protecting personal and sensitive data from being harvested and monetized without consent from the user.

Trustless: Uses incentives and economic mechanisms and doesn’t rely on the support of trusted intermediaries.

Verifiable: All identities are verifiable by secure third-party authentication without the need to provide or expose sensitive details.

Some  examples of Web3 technology as the next-level internet experience include machine learning and AI as well as the metaverse .

Web3 in travel

The emergence of Web3 is set to disrupt several industries, and travel is no exception.

The way consumers plan, book, and enjoy travel has changed drastically over the past 10-20 years, and this will transform even further with the introduction of Web3.

And travel giants such as Airbnb are already investing in Web3. The company is currently looking into enabling cryptocurrency payments — a feature highly requested by its customers. 

Web3 will offer many opportunities to travel companies, such as:

• improved reconciliation processes,
• more personalized traveler rewards and loyalty programs,
• increased security,
• more efficient processes,
• and better payment and settlement solutions. 

The tourism industry relies heavily on the exchange of information and financial transactions between companies and customers. 

Web3 technologies could allow the travel industry to expand, not only in market size but also in terms of use cases and benefits for travelers.

To illustrate the expansion in size: in 1990, there were 1,2 billion airline passengers, and the industry’s market size was valued at $250 billion. Thanks to internet adoption, between 1990 and 2007, the industry grew to 2,5 billion passengers and a $510 billion market size.

Another increase took place in 2008. When it became mandatory for International Air Transport Association (IATA) members to use e-ticketing services, this use case made the number of travelers grow to 4,5 billion yearly and reach an industry market size of $870 billion. [3]

The use of blockchain technology could help to make these transactions more secure and traceable, in turn making business models more efficient and streamlined, saving costs, and increasing competitive advantage, as well as benefiting travelers themselves by allowing for more seamless and autonomous travel experiences. 

Decentralized travel

The decentralization factor comes into play too: decentralized computing brings improved reconciliation processes involving blockchain and decentralized applications. This will help reduce costs  and increase competitive advantage.

Web3 will also bring a new level of transparency to companies and intermediaries within the travel industry.

We can think of the following scenarios: [4]

Hotels: Decentralization can bring faster settlement and commission tracking for accommodation providers.

Corporate travel: Greater transparency, accurate rate usage, and simpler, faster settlement.

Ground transportation: Fleets could connect directly with customers.

Tours & Activities: Decentralization can empower smaller providers.

Web3 blockchain benefits travel companies

Although decentralized computing minimizes the role of intermediaries, the aim of Web3 is to keep them on board while ensuring they do not act as gatekeepers of information and add extra costs that do not give value to the consumer. [1]

Let’s look at how Web3 can further impact the travel industry. The  offering and exchange of information  can be simplified when information is available on a blockchain. This is particularly relevant for those travel companies using API integrations with multiple partner companies. 

Furthermore, improved trackability due to its fundamental unchangeability and transparency characteristics offers possibilities way beyond just baggage tracking for example.

Blockchain technology also helps with the monitoring and reporting of emission reduction trading. For example, the effective  tracking of carbon credit's complete journey and its connected offset projects are possible with Web3, giving both businesses and consumers a detailed audit record. [5]

NFTs in travel

Further benefits of Web3 for travel are the personalized loyalty programs: Using NFTs  for better traveler rewards and loyalty programs could be among the  lowest-hanging frui t  for travel brands considering Web3 innovations.

Consider automated bonuses for travelers who book sustainable travel and accommodation or small gifts for delayed flights or difficulties for reasonable rates. The possibilities for more personalized loyalty programs and closer ties between providers and customers are endless. 

NFTs are digital assets that are bought, sold, and traded online, usually with cryptocurrency, and are stored using blockchain technology. They can come in the form of art, music, in-game items, videos, and more. They have been around since 2014, but their popularity has hugely increased over the past few years; the market size of NFTs reached a value of $41 billion in 2021. [1]

NFTs could be used to improve the travel experience, drive engagement rates, be more engaging, and build stronger customer relationships. 

Some examples of NFTs in the travel industry include:

• NFT airline tickets
• Customer rewards & loyalty programs
• Promoting social good
• Hotel membership programs
• Exclusive experiences

Travel companies such as Marriott and AirBaltic have already begun to use NFTs, and other businesses within the sector will likely follow suit. [1]

NFT airline tickets could be beneficial to travelers, because it would allow flyers to auction, sell, trade, and transfer tickets from wallet to wallet, giving them full control over managing and disposing of their travel assets freely and seamlessly, for example being able to sell your ticket if you cannot travel or sending it by text message as a gift to your family member or friend whenever you want. [3]

As we are on board and traveling on the route of Web3 it’s key — to understand Web3 — that we detach ourselves from the image we currently associate with the internet we know today. The transition to Web3 offers even greater possibilities, even more innovation, and even further change than the leap from Web1 to Web2. 

Another feature on which Web3 builds is that of ownership. Through NFTs and smart contracts, digital assets are truly and legally attributed to users of the internet and made tradable through proof of ownership and transferability. As such, Web3 could potentially be more disruptive, and an even bigger paradigm shift than Web2. 

To be more specific, using artificial intelligence, machine learning, and blockchain technology, Web3 aims to create open, more connected, intelligent decentralized applications where users can manage their own data.

According to recent TravelTech Show data, 74% of business experts in the sector plan to use Web3 as a marketing tool. [5]

As the industry begins to embrace ‘Travel 3.0’ through the third wave of innovation built on the always-connected perspective provided by consumer mobile technology, it can be anticipated that bigger changes are on the way.

Web3 will bring a completely new structure and technology to the travel industry and, consequently, infinite opportunities for new products and business offerings on board that journey.

Thanks for reading this blog post, we hope you enjoyed it! Did you know you can get all of our latest blog posts and more straight to your mailbox? Subscribe now  for our newsletter to not miss out.

Banner photo by Pixabay on Pexels.com

[1] The Future of Web3 Travel | Nezasa Blog

[2]  Online search usage - Statistics & Facts | Statista

[3] Web3 technologies could be a game changer for the travel industry | cointelegraph.com

[4] The decentralized computing future of travel | Phocuswright

[5]   The emergence of web3 in the travel industry | PhocusWire

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The L1 blockchain designed for the travel industry and fueled with CAM token.

CAM is the native token of Camino Network and plays an important role in driving the seamless operation and growth of the global web3 travel ecosystem.

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“Camino, as the first blockchain platform for travel, offers vast possibilities to enhance processes...”

"Blockchains have enormous potential to materially change our business model by making transactions along the value chain more secure, efficient and traceable. Camino, as the first blockchain platform for travel, offers vast possibilities to enhance processes, products and services in the travel industry. Eurowings will be one of the first movers, currently exploring first use cases in inflight shopping, customer loyalty, digital marketing and sales together with our partners Chain4Travel and Peakwork."

“Similar to the internet in the 1990s, Blockchain could become a game changing technology in travel.”

"Similar to the internet in the 1990s, Blockchain could become a game changing technology in travel. Chain4Travel is well positioned to actively drive this change and is one of the most advanced innovation companies in this field."

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Nu10 Insights

Practitioners/Doctors

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Introduction to Web3 and Blockchain Technology:

In today's ever-evolving digital landscape, Web3 is set to revolutionize the way we interact with the internet. Unlike its predecessor, Web2, Web3 is a decentralized internet that puts control and ownership of data back into the hands of individuals. By leveraging blockchain technology, Web3 ensures transparency, security, and trust in online transactions.

Blockchain, the underlying technology powering Web3, is a distributed ledger that maintains a continuously growing list of records, called blocks. It operates on the principles of decentralization, where no single entity has control over the network, and transparency, as every transaction is recorded and visible to all participants. This innovative approach to technology holds immense potential for reshaping various industries, including travel.

Web3 and Travel: The Connection:

The integration of Web3 into the travel industry can bring about a multitude of benefits for both travelers and the travel industry as a whole. By removing intermediaries and empowering individuals, Web3 enables direct peer-to-peer interactions, creating a trustless environment that enhances efficiency and eliminates unnecessary costs.

One primary area where Web3 can make a significant impact is in decentralized travel booking. With the use of decentralized applications (dApps) and smart contracts, travelers can seamlessly book flights, accommodations, and activities without relying on traditional intermediaries. This direct interaction allows for cost savings, as the need for commissions and booking fees is eliminated. Additionally, the transparency of blockchain technology ensures that all transactions are securely recorded, enhancing trust between travelers and service providers.

Tokenization of Travel Assets:

An exciting concept within the Web3 travel ecosystem is the tokenization of travel assets. Tokens represent ownership or access rights to various assets, such as hotels, real estate, and loyalty programs. By owning travel-related tokens, travelers gain a stake in the industry, enabling them to contribute to decision-making processes and reap the benefits of collective growth.

Tokenization offers several advantages for travelers, including increased liquidity and flexibility. Travelers can easily trade their tokens or even utilize them as a means of payment within the Web3 travel ecosystem. This opens up myriad possibilities for personalized travel experiences and fosters a sense of community in the exploration of new destinations.

Decentralized Identity and Privacy:

In an era where personal data protection is a growing concern, Web3 holds the promise of providing travelers with more control over their personal information and identity. With Web3's emphasis on privacy-focused solutions like self-sovereign identity, individuals can securely store and manage their digital identities without relying on centralized authorities. This newfound control over personal data empowers travelers to choose with whom they share their information, mitigating the risks associated with data breaches and identity theft

Smart Contracts for Travel Insurance:

One area of the travel industry that can greatly benefit from the integration of Web3 is travel insurance. Smart contracts, autonomous digital contracts that execute automatically when predefined conditions are met, can revolutionize the way travel insurance claims are processed. By utilizing smart contracts, the claims process becomes more transparent, efficient, and automated.

With smart contracts, travelers no longer have to navigate complex insurance forms and deal with lengthy claim processing times. Instead, claims are automatically executed based on predetermined conditions, leaving no room for human error or subjective interpretation. This streamlined approach to travel insurance not only saves time but also improves trust and customer satisfaction.

Community-Driven Travel Platforms:

Thanks to the emergence of community-driven travel platforms built on decentralized networks, travelers now have the opportunity to collaborate, share experiences, and plan trips in innovative ways. These platforms leverage the power of Web3 to foster a sense of community among like-minded explorers who can connect, exchange insights, and create memorable travel experiences together.

Decentralized social networks within Web3 allow travelers to bypass traditional social media channels and access authentic, real-time travel recommendations from fellow explorers. By removing the influence of paid advertisements and commercial interests, community-driven travel platforms empower users to make informed decisions based on genuine experiences and trusted recommendations.

Challenges and Concerns:

In conclusion, Web3 is poised to unlock a new era of possibilities for travelers and the travel industry alike. By embracing the principles of decentralization, transparency, and security, Web3 enables a future where individuals have greater control, trust, and efficiency when exploring the world. As we navigate this exciting frontier, it is crucial to embrace innovation responsibly and overcome the challenges that lie ahead. Together with Nu10, kickstart your journey to shape the future of travel with Web3.

About Author

Mohit Kataria

Mohit is a tech-enthusiasts who have founded and built Manthan Research and Analytics, which got acquired by M3 and got rebranded to m360 Research. M3 is a $40bn+ Japanese Medical Information firm which is the youngest Nikkei 225 company. During his tenure there, it specialized in using cutting-edge advanced analytics techniques like NLP, unstructured data analytics, machine learning to drive actionable intelligence. He enjoys breaking new ground, building & scaling high-performing teams ground up, and creating new solutions.

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Web3 & travel blog

Everything that is going to be relevant for tomorrow’s travel industry

Camino Messenger is an efficient travel data management and exchange system built on Camino Network for instant communication between providers and distributors.

How often have you heard others say that the new generation is wasting their lives on their phones in a digital environment? At Chain4Travel, we clearly understand that Digital is a new reality.

So far, we have been talking a lot about the basics of blockchains and web3. Today we want to share more insights about Camino, the web3 ecosystem for the travel industry.

As the travel industry enters the new digital era, the need for understanding smart contracts and their legal implications is growing. This article provides a clear overview and highlights the potential of smart contracts in travel.

We want to navigate you through this dense fog of misconceptions and blockchain myths to a clear perspective of this profound technology for the travel industry.

The travel industry is undergoing a transformative shift due to recent global events, presenting opportunities for adaptable companies to thrive in this changing digital landscape.

How we can streamline the data verification, increase security and speed of the processes when traveling.

At a time when technological advances are reshaping industries, the travel industry finds itself at a crossroads.

Find out why crypto wallets are beneficial for the travel industry, even if customers aren't embracing web3 technologies (yet)

How the travel industry can leverage tokenization of digital assets.

We are going to get a bit more technical again and explain why the travel industry needs its own so-called Layer 1 blockchain.

Is decentralized travel the future? Decentralization could disrupt the travel industry as we know it. Learn how to leverage it to your advantage.

The travel industry has been affected by the emergence and continued development of the internet. What Web 3.0 will mean for travel.

Chain4Travel offers companies the chance to be at the cutting edge today and to help shape the travel industry of tomorrow. Any company, regardless of size or travel sector, can easily adopt web3 use cases on Camino Network. Contact us to kickstart your web3 journey and explore tailored use cases for your business.

Web3 is based on the core concepts of decentralization, openness, data security, and greater user value - all of which are enabled by blockchain technology. As such, it could be a more disruptive and significant paradigm shift for the travel industry than web2. It unlocks a field of possibilities for exploring traveler rewards, loyalty programs, more efficient processes, payment and billing solutions, and even entirely new business models while benefiting from enhanced security, peer-to-peer ownership of data and information, and cost savings.

Chain4Travel startet Messenger für Reise-Deals

Das Start-up Chain4Travel stellt den Camino-Messenger ins ITB-Schaufenster. Das Tool ermöglicht Reiseunternehmen, sich mit nur einer API-Anbindung weltweit auf der Camino-Blockchain zu vernetzen.

We need to stop forcing use cases on blockchains

In order to correctly prepare for the future of blockchain and shape blockchains for the future, we need to stop anchoring our thinking in what already exists. Rather than maintaining established blockchains as the blueprint for specific apps and use cases, we need blockchains that are purpose-made and use case-driven.

FTI, Chain4Travel, ISO und VIR laden zum Dev Weekend

Entwickler sind willkommen, wenn die vier Branchengrößen, Reiseveranstalter FTI, das Blockchain-Start-up Chain4Travel, Technik-Anbieter ISO und der Verband Internet Reisevertrieb (VIR), Anfang 2024 nach München zum Dev Weekend laden. Was dort geschehen soll.

WEB3 IN TRAVEL CONFERENCE

Umbria, italy, 3rd & 4th september 2024, the first travel conference dedicated to the transition to web3. speeches, panels and networking to help the industry upgrade to the new web., upgrade to web3, web3 is the next iteration of the web.

Web3 will deeply impact any travel business within a few years. Now it’s the perfect time to learn what’s going on and get ready.

To Onboard and Educate the Travel industry to Web3 and create a network on Web3 in Travel entrepreneurs

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Umbria, Italy, 3rd&4th September 2024

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Speakers will be approved by the DAO. We will collect all requests and put them in a vote in batches.

Web3 in Travel Conference DAO

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The first travel conference dedicated to the transition to web3., speeches, panels and workshops to help the industry upgrade to the new internet.

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As institutional etps push btc higher, the crypto ecosystem needs a revival.

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The word "REVIVAL" written in vintage metal letterpress type in a wooden drawer with dividers.

Institutional spot bitcoin ETPs have become a strong catalyst for BTC’s market dynamics in the past couple of months, pushing its price to multiple ATHs in quick succession .

Blackrock, the world’s largest asset manager, whose spot bitcoin ETF became the fastest growing ETF ever , has reportedly embarked on a $10-trillion tokenization journey , besides announcing its ETH ETF in March, 2024.

While these developments have helped to trigger the next crypto bull cycle and created a renewed enthusiasm for BTC, ETH, and other top cryptocurrencies, a vast majority of the crypto industry is still struggling.

Alpha Quest and Storible examined over 12,000 projects for the 2024 Dead Coin Report and found that 65 percent of the cryptocurrency market was comprised of “dead coins” by the end of 2023.

Moreover, 75 percent of projects launched during the 2020-2021 bull cycle didn’t survive, let alone succeed. Leading blockchains like Terra and Cardano featured among ecosystems with the deadest coins, highlighting the ubiquitous nature of the dead coin phenomenon.

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Besides projects surviving less than three years on average, less than a market cycle, the crypto industry is facing the potential threat of excessive capital consolidation into ETPs owned, issued, and managed by big corporations like Blackrock and Fidelity.

Industry pioneers like HM Rawat, co-founder and ceo of Lingo , argue for more down-up growth stating, “The industry needs better incentive models to boost community engagement, while creating new revenue streams to help projects become truly self-sufficient and more efficient, so they have better chances of surviving volatile markets and external pressure.”

Crypto’s Grassroots Upgrade

Enabling widespread financial access across industry verticals and socio-economic demographics is one of crypto’s biggest promises. This comes with decentralization, scope for rapid, demand-led innovation, and healthy competition among builders and service providers. This rich diversity and participation is key to crypto’s long-term success.

As U-topia ’s co-founder and ceo, Emmanuel Quezada, notes, “Web3 must be accessible and relevant to everyone, no matter their age, cultural background, geographical location, etc. This is possible with progressive systems that abstract the complications and onboarding hurdles, while tapping into the power of on-chain provenance, immutable ownership metadata, and sustainable incentive mechanisms to engage and empower grassroots communities at scale.”

Diversity is one of crypto’s biggest strength, and the scenario where capital and user engagements become consolidated around a handful of assets, products, or platforms, while others fail will be seen by many as a function of market maturity and scaling – the most popular products and brands with the highest utility to consumers often win.

Persistence founder and ceo, Tushar Aggarwal says, “Crypto is only over a decade old and so many powerful projects have already come across. Imagine if all of them had the liquidity, community engagement, or whatever was necessary for their success. The industry would be 10, 100, 1000x bigger and more impactful that way. It’s not far-fetched or utopian, especially now that robust cross-chain value distribution frameworks are ready and functional.”

Concerns And Adversarial Cases

While it’s great to experience the frenzy of another market up-cycle, the macro concerns and the negative remains of the last bear cycle are still very evident. The persistent crypto layoffs and downsizing since 2023 are still looming, as is the number of cryptocurrency funds and exchanges that have recently shut down local or global operations, or gone bankrupt .

The exchange closures are particularly notable given their links to enforcement actions or other regulatory developments.

The Financial Action Task Force’s (FATF) Travel Rule, which came into effect in September 2021, brought a range of practical issues for crypto businesses, especially exchanges. Different implementation requirements across jurisdictions caused the so-called Sunrise Issue , while the lack of regulatory clarity increased operational costs.

The high compliance risks and cost implications not only put smaller exchanges and VASPs out of business, but they also drove a number of nations to ban crypto altogether .

While emerging institutional ETPs have brought mainstream attention and capital to crypto, the long-term vested interests of their issuers is still emerging. Blackrock’s plan to acquire its own spot Bitcoin ETPs for the Global Allocation Fund, signals a tendency to consolidate capital control and maximize profits.

As Mark Goodwin and Whitney Webb noted in their extensive article on Blackrock’s history and likely intentions, too much concentration of cryptoassets in the hands of institutional players could make undue regulatory enforcements and strong-arming easier, challenging the resilience and autonomy of blockchain networks.

Can Crypto Push Back & Survive?

By playing to its strengths and doubling down on the novel propositions it originally began with, the power of community-led growth and innovation is a foundation upon which crypto projects can thrive.

According to Elena Sinelkova, CryptoChicks founder and decentralization coordinator at Metis Foundation , “Low community engagement is a key reason why many projects fail, especially during bear markets. It’s clear that strong community support is necessary to endure crypto’s volatility and the pressure of bear cycles.”

Crypto ecosystems need robust incentives and reward distribution models to bootstrap and sustain community engagement.

PredX Founder Rein Y. Wu notes, “While projects can build up their community through social media marketing and so on, they need fair economic models and revenue streams to retain support long-term. The answer to what’s in it for me must be compelling, otherwise, it’s nothing.”

While institutional products and regulatory progress have had positive implications for crypto’s mainstream adoption, the crypto industry’s ultimate goal must be to build on its core values of inclusion, transparency, privacy and decentralization, to the benefit of consumers.

Healthy competition and ensuring a collaborative environment will help to revive an ailing crypto market and better increase its success rate and better enable native projects to benefit from the attention big mainstream players bring.

It’s about playing and not being played.

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PlatON unveiled state-of-the-art Web3 Payment Solutions at Money 20/20 Asia

The Silicon Review 24 April, 2024

Highlighting TOPOS MINT, PlatON offered financial institutions a means to issue compliant deposit tokens independently

At Money 20/20 Asia, PlatON, a digital public infrastructure provider, unveiled its latest advancements and practical applications of deposit tokenization technology to a global audience. Through its state-of-the-art Web3 payment solutions, including TOPOS MINT, TOPOS RemiNet, and TOPOS, PlatON demonstrated how deposit tokenization is reshaping traditional financial assets, enhancing liquidity, and streamlining cross-border payments and financial transactions. This innovation responds to the growing demand for flexible payment and settlement mechanisms in the global financial markets. PlatON's presence at Money 20/20 Asia not only showcased its expertise in fintech but also marked a significant leap in payment technology innovation. Engaging with fintech leaders worldwide, PlatON discussed the transformative potential of blockchain in the financial industry while seeking opportunities to expand its presence in the Asian market and beyond.

PlatON introduced QRPAY and ZKPAY as part of its on-chain payment solutions, enabling payment verification and fund settlement between merchants and users through smart contracts and zero-knowledge proof technology. This decentralized approach holds promise for future fully decentralized commercial payment scenarios. PlatON's participation at Money 20/20 Asia aimed to foster collaboration with global fintech leaders and promote blockchain adoption and innovation in Asia and beyond. Through interactive displays and discussions, PlatON provided insights into its technology's real-world applications and sought partnerships to explore emerging opportunities in fintech and blockchain technology.

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What is Labour’s plan for rail travel and will it make tickets cheaper?

Party wants to fully nationalise train network within five years of coming to power, in ‘biggest rail reform for a generation’

Labour has made one of its most radical proposals yet in the run-up to an election campaign: to fully nationalise the train network within five years of coming to power.

The party has pledged to guarantee the cheapest fares as part of “the biggest reform of our railways for a generation”, bringing all passenger rail into national ownership under the Great British Railways (GBR) body.

So, how difficult would the plan be to enact and what does it mean for passengers?

How would Labour’s plan for Great British Railways change the way the trains are run?

The headline change is nationalisation: the ambition that all passenger train operations, at least, should return to public ownership. But the wider aim is that control of trains and tracks – “wheels and steel”, as some put it – is brought back under one unified structure, at arm’s length from the government.

The actual railway infrastructure is already managed by the state-owned Network Rail, since the disastrous tenure of Railtrack in the early days of privatisation, and train operations in Scotland, Wales and a large chunk of England are in public ownership. So a fully renationalised railway (bar the rolling stock and freight) is not as big a step as it may once have sounded – and arguably the pragmatic extension of the plans drawn up by the Conservatives in 2021, to end the fragmentation and waste in the system.

How long will the changes take?

Labour said it would get the ball rolling on day one. Given the years it has taken for the Conservatives’ GBR plans to crystallise into a draft bill that has scant chance of passing before an election, supporters of the changes would be forgiven for not holding their breath for legislation. But some of the spadework has been done by the GBR transition team, and Labour will be hoping for a more stable tenancy in Downing Street to see the policy through. It is, it stresses, a long-term plan.

As far as nationalisation of the train operators goes, most of the contracts of remaining operators will expire naturally within the next term, while the government can exercise break clauses in others, such as Avanti West Coast and Cross Country.

What would the trains look like?

Eventually, they would all be GBR-branded trains rather than the individual liveries and logos of different operators. Labour hopes that this will make things simpler for passengers, avoiding confusion over ticketing, as well as cutting costs.

Would it make train travel cheaper?

Possibly, but not for a while yet. Labour says it wants to make the railway more affordable but has definitively avoided any pledges to cut or even freeze the overall level of fares.

However, it believes that its plans will eventually save £2.2bn a year by avoiding the duplication and bureaucracy brought on by the current system, where the Department for Transport tightly controls and specifies contracts for the private firms, and reams of staff are employed in back-end roles. That could give ministers some scope to use more of the billions in annual taxpayer subsidy to bring fares down long-term.

What about this best-price guarantee?

Make that an “ambition”, according to the policy document . It’s testament to the complexity, or occasional absurdity, of UK rail fares that even after years of industry focus on improving the system, renationalising looks an easier promise than telling a passenger they’ve paid the right amount.

Things can be improved, Labour says, as contactless tap-in and tap-out payments extend through more and more of the country, opening up the possibility of a Transport for London-style system, where fares are streamlined and automatically capped or refunded.

The shadow transport secretary, Louise Haigh, pointedly chose the headquarters of Trainline in central London to launch her plans on Thursday, paying tribute to the travel app firm’s “relentless focus on passengers [and] improving their experience”. Trainline shares fell 10%, even though Labour says it has no plans to replace the private firm with a single state retailer.

But given that the app’s business depends on people paying extra to cut through the railway’s confusing fares, fragmentation and lack of a decent central ticketing site, Trainline shareholder nerves might be taken as a vote of confidence that GBR will improve the industry’s own offering.

How else might passengers benefit?

Labour says it would leave the running of the railway to the experts – but the transport secretary would set strategy and take on the role of passenger-in-chief, and the industry would not be “marking its own homework”.

The plan aims to strengthen the voice of passengers by rolling together the various bodies currently meant to be standing up for them – the watchdog Transport Focus and the little-known Rail Ombudsman, as well as a few divisions of the Office of Rail and Road.

What will happen to the private operators?

Their representatives at Rail Partners warn that it will be “messy” and the railway will lose their expertise. But the people actually running train operators, right up to the managing directors, have typically stayed in post with a different coloured badge when the owning groups moved on, and passengers at say, Southeastern or LNER may not feel life is very different. Firms once regarded as pillars of privatised rail such as Stagecoach, National Express (now Mobico) and Virgin have long exited UK rail already, pursuing business elsewhere.

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Bybit Web3 Launches Industry’s First Bitcoin Layer 2 Airdrop Campaign, Paving the Way for a New Bitcoin Era

Bybit, one of the world’s top three crypto exchanges by volume, is excited to announce that Bybit Web3 is launching the industry’s first Bitcoin Layer 2 Airdrop campaign through its Airdrop Arcade.

This pioneering endeavor aims to catalyze widespread adoption of Bitcoin Layer 2 solutions by offering users exclusive airdrop rewards and a seamless journey into this dynamic ecosystem.

A Pioneering Leap for the Crypto Community

The Airdrop Arcade ‘s Bitcoin Layer2 Season Campaign marks a pivotal moment for the cryptocurrency industry. By delivering the first comprehensive on-chain experience of Bitcoin Layer 2, it offers the simplest and most rewarding campaign yet, targeting everyone from DeFi veterans to seasoned CEX users. Bybit Web3 aims to educate the broader market and expedite the adoption of this transformative technology.

Ben Zhou, Co-founder and CEO of Bybit shared his excitement on the recent development of Bitcoin Layer 2:  “Bitcoin Layer 2 represents a monumental leap forward for the Bitcoin ecosystem, enabling faster, cheaper, and more scalable transactions. This aligns perfectly with Bybit Web3’s vision, an extension of our commitment as the Crypto Ark, fostering a simpler, open, and equally decentralized ecosystem for all. We are thrilled to collaborate with leading Layer 2 protocols to democratize access to this transformative technology.”

Opening Doors to a New Frontier

The Airdrop Arcade’s Bitcoin Layer2 Season invites all users into the realm of Bitcoin Layer 2, offering:

• Early Bird TGE Airdrops: Access exclusive token rewards from prominent Layer 2 protocols before their official launch.
• Streamlined Airdrop Participation: Engage in Token Generation Events (TGEs) safely and effortlessly with an expanding prize pool.
• Comprehensive On-Chain Experience: First comprehensive on-chain experience of Bitcoin Layer2 including Defi, NFT, and more.

Partnerships Driving Innovation

Bybit Web3 has joined forces with some of the most innovative Bitcoin Layer 2 protocols to propel the campaign forward:

• BEVM –  The first EVM-compatible Bitcoin Layer 2 based on Taproot that uses BTC as gas. BEVM aims to bring 10% of Bitcoin into the L2. Now BEVM has launched the Canary Network with more than 100k addresses, nearly 9 million transactions and 30+ projects.
• B² Network – The most practical Bitcoin Layer 2 network, featuring the first EVM-compatible Rollup based on zero-knowledge proof verification commitment on Bitcoin.
• Mirror Staking Protocol – The latest decentralized cross-chain staking solutions, providing a genuinely decentralized and secure Bitcoin staking solution for POS L1/L2s projects.
• Tuna Chain –  The first modular Layer 2 solution on Bitcoin, offering a native stablecoin and a Hybrid ZK-OP solution, to seamlessly fuse Bitcoin’s security with Ethereum’s versatility.

Don’t miss out! Tune in to our upcoming Bybit’s Livestream “FOMO Money vs Serious BUIDLs: Who’s the Next Bitcoin Layer-2 Alpha?” on May 8, 2024, at 8AM UTC. Join us for an in-depth discussion with the leading minds in Bitcoin Layer 2 as we explore the future of this transformative technology. Stay tuned for more updates.

Airdrop Rewards Valued at Over $400K

Participants in the Bitcoin Layer 2 Season have the opportunity to claim a share of a substantial prize pool exceeding $400,000 USD in TGE tokens. This includes original protocol tokens and airdrops from various decentralized applications (dApps) built on top of these Layer 2 solutions.

For comprehensive campaign details and participation instructions, please visit: https://www.bybit.com/en/web3/airdrop

About Bybit Web3

Bybit web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. we are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting., bybit web3 provides a comprehensive suite of web3 products designed to make accessing, swapping, collecting and growing web3 assets as open and simple as possible. our wallets, marketplaces and platforms are all backed by the security and expertise that define bybit as a top 3 global crypto exchange, trusted by 25 million users globally., join the revolution now and open the door to your web3 future with bybit., for more details about bybit, please visit bybit web3., about bybit, bybit is one of the world’s top three crypto exchanges by trading volume with 25 million users. established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. bybit is a proud partner of formula one’s reigning constructors’ and drivers’ champions: the oracle red bull racing team., for more details about bybit, please visit bybit press ., for more information, please visit: https://www.bybit.com, for updates, please follow: bybit’s communities and social media.

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.

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Top 10 tech conferences in California in 2024

1. ai summit west: dive into ai advances and real-world applications.

• Dates: 13th - 14th February 2024
• Location: Santa Clara Marriott, 2700 Mission College Blvd, Santa Clara, CA
• Cost: US $449 - US $2695

2. DeveloperWeek 2024: hear from the cloud ecosystem maestros

• Dates: 21st - 23rd February 2024
• Location: Oakland Convention Center, 550 10th St, Oakland, CA
• Cost: US $745 - US $1195

3. AIAI San Jose: the AI accelerator summit driving innovation and new solutions

• Dates: 17th - 18th April 2024
• Location: San Jose Marriot, 301 South Market Street, San Jose, CA
• Cost: US $445 - US $795

TravelPerk's Meetings & Events team can help you book venues and get exclusive discounts on group travel

4. rsa conference 2024: the art of the possible.

• Dates: 6th - 9th May 2024
• Location: Moscone Center, 747 Howard Street, San Francisco, CA
• Cost: US $495 - US $2195

Looking for more tech conferences in San Francisco?

5. tech summit 2024: join tech experts and leaders for innovation insights.

• Dates: 19-20th June 2024
• Location: Santa Clara Convention Center: 5001 Great America Pkwy, Santa Clara, CA
• Cost: US $295 - US $1995

6. Data + AI Summit 2024: learn to apply large language models (LLM)

• Dates: 10th - 13th June 2024
• Location: San Francisco, CA + Virtual 
• Cost: To be announced

Bringing multiple team members to a conference this spring?

7. techspo silicon valley 2024: attend the largest technology expo series.

• Dates: 11th - 12th July 2024
• Location: The Westin San Francisco Airport Hotel, CA
• Cost: US $0 - US $697

8. TDWI San Diego: get insider access to data and analytics insights

• Dates: 4 - 9th August 2024
• Location: San Diego, CA
• Cost: US $2016 - US $3872

Need to organize travel for your team for an upcoming conference?

9. qcon san francisco international software development conference: elevate your knowledge of emerging software trends.

• Dates: 18th - 22nd November 2024
• Location: Hyatt Regency San Francisco, 5 Embarcadero Center, San Francisco, CA
• Cost: US $920 - US $4860

Don’t mind traveling a bit further for the best tech events?

10. api world: attend the world’s largest api & microservices event.

• Dates: 5th - 7th November 2024
• Location: Santa Clara Convention Center, 5001 Great America Pkwy, Santa Clara, CA
• Cost: Not yet released

Level yourself up at these California technology events

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Kiki World, a beauty brand that uses web3 for customer co-creation and ownership, raises $7M from a16z

If you think that choosing a nail polish color or which ingredients go into your face cream can’t have anything to do with blockchain, think again.

Kiki World , a beauty startup launched last year, wants consumers to co-create products and co-own the company with the help of web3 technology.

On Tuesday, LA-based Kiki announced that it raised a $7 million seed round from the Andreessen Horowitz crypto fund and The Estée Lauder Companies’ New Incubation Ventures, along with other backers such as Orange DAO and 2 Punks Capital.  

Kiki co-founder Jana Bobosikova said she believes that being a loyal user of a brand in the Web 2.0 world can be a net negative experience. “You probably have watched a lot of creators on TikTok recommend it to you. You probably recommended it to all your friends. And what do you get for that? Just more retargeted ads,” she said.

Kiki is flipping that model by allowing its community members to vote on the features they want before the beauty products are made. As a reward, voters earn points toward free products and receive digital tokens in the company.    

“It’s a dynamic that the internet and your bathroom have not seen yet,” Bobosikova said. (She may be right about the bathroom, though of course, the internet has seen plenty of customers vote on products and earn digital tokens for their participation.)

Since it’s not uncommon for cosmetics companies to find themselves with large piles of inventory they can’t sell, another benefit of Kiki’s on-demand approach is that it uses less capital and resources.

Although members’ product votes are recorded on Ethereum, Bobosikova said some participants don’t need to know they are taking action on blockchain. Users can sign in with an email, and voila, Kiki has created an on-chain account that will store the members’ votes into perpetuity.  

a16z decided to back Kiki after the startup completed its 10-week crypto startup accelerator program . “Jana is a force of nature. She was one of the things that most drew us to the company,” said Arianna Simpson, a general partner at the firm. “She has incredible expertise in the beauty space, but also a unique understanding of web3, which is not always something we see if we have a founder coming out of a more traditional industry.”

Prior to founding Kiki, the Czech-born Bobosikova was the CEO of Epic Future Labs, a product development and brand innovations agency.

Simpson noted that Kiki is not the firm’s only bet on a company that rewards customers using blockchain technology. Last year, a16z led a $24 million Series A of Blackbird Labs , a hospitality tech company that developed a loyalty program that incentivizes guests to dine in independent restaurants.

For now, Kiki has launched five product collections, including a nail polish pen, for which consumers can choose the next color Kiki will manufacture.

But, as Simpson pointed out, Kiki has plans to eventually expand beyond the world of beauty.

How long will it be until it’s possible to vote on jeans styles or purse sizes? Perhaps a while.

“We have faced insane challenges on the physical side of things,” Bobosikova said, adding that some products take much longer to manufacture than others. “The power of asking people what they want and giving it to them, it’s very, very simple. It’s just very hard to do.”

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