The entire blockchain space has been waiting for the real-world utility of the breadth of technological solutions built by web3 innovators. Mostly confined to the digital realm, their impact on people’s daily lives is yet to be seen. Buk Technology seeks to make that happen in the travel space by creating a distribution ecosystem and a secondary market for hotel bookings.
How many times have you lost money on a hotel or travel booking because of a non-refundable clause or late booking? Industry benchmarks say 15% of the time, almost everyone!
Enter Buktrips.com, a game changer in travel, built by Buk Technology, offering an innovative solution to the cancellation fee problem with resaleable hotel rooms, and creating a new revenue stream in the form of royalties for hotel management. Belly trips takes it a step further by introducing an innovative feature: the ability to trade real-world utilities in the form of hotel room NFTs.
Everyone knows how hotel booking prices increase around F1 race dates, concerts, New Years Eve, conferences and more. But there has never been a market that has made this real-world trading of services possible, accessible to travelers and retail participants. Buk calls this concept Real World Service Tokenization – the ability to tokenize and finance any service industry that operates on perishable inventory. Until now, the NFT trade has primarily revolved around digital collectibles, stunning artwork, and vibrant JPEGs that bring us into the realm of digital art. While we enjoyed these experiences, it was time for a new revolution to form. BukTrips tries to bring the power of web3 tokenization to real world services and finances them, through NFTs.
Here’s how it works – When you book a stay on buktrips.com, your confirmation comes in a form NFTs—an NFT that includes all important metadata and finds its place on the blockchain and is visible in major marketplaces such as OpenSea and Rarible. The NFT itself can be traded as many times as needed. For each transfer of hotels whose inventory is traded, a trade royalty is awarded. The person holding the NFT on the check-in date can prove ownership and enjoy the necessary services. Tokenization here ensures no duplicate or fake orders, while making it easy to transfer and trade. And users can place orders today by paying via Cryptocurrency. Credit card based purchases are also on the live roadmap.
Image: Snippet from the BukTrips.com website
BukTrips is one of the few players on web3 with several major backers – Polygon, Expedia, Priceline and many others support at various levels.
Even though BukTrips is already active, they will be launching NFT hotel room trade on their platform in September 2023. Hotel stays during events and destinations sought often skyrocket in price, but Buktrips has got you covered with their extensive inventory as they are backed by Expedia, Priceline , and others with 700,000+ inventory in 200+ cities. And here comes the exciting part: You can trade these hotel rooms and make a profit.
This is an opportunity to dive into the thrilling world of crypto trading while enjoying real real world benefits. But that’s not all. BukTrips recently launched an exclusive community program focused on sharing insights on how to trade hotel rooms through their Travel Traders’ Lounge. An elite community of hoteliers, travel agents and merchants will share their insights to deliver the best alpha out there. That White list to join this exclusive community of traders is now open. Just visit the Early Access page on the buktrips.com header, press the button Priority Access button, and join the Trader’s Lounge!
The future of token trading is here, and Buk Technology is at the forefront of this incredible evolution. This is an interesting use case with a real world utility and all eyes are on Buktrips as they unlock the full potential of hotel room NFT trading.