Travala rises from the ashes – News Couple
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Travala rises from the ashes


Travala.com, the leading crypto-friendly travel platform, reported “tremendous growth” during the third quarter of 2021, with the use of cryptocurrencies playing a major role. Its blockchain-based platform allows customers to make payments in more than 50 digital currencies.

CEO Juan Otero stated in July that 70% of bookings were paid for via cryptocurrencies, generating more than $1 million in gains each week. As commented on it

With more people owning cryptocurrencies and more companies accepting them for things in the real world, traveling is naturally a desirable experience to use cryptocurrencies,

Related reading | Australian woman travels to ten countries in 12 weeks on cryptocurrency alone

Travala has partnered with Viator, the company owned by Tripadvisor and Expedia Group – although Expedia does not accept payments by bitcoin directly. Through these partnerships alone, they offer over 700,000 hotels and accommodations and 400,000 bookable activities that can be purchased with cryptocurrency.

Otero previously stated, “Travala.com offers over 3 million travel products, making us not only the largest crypto-friendly producer. [online travel agency], but it is one of the largest in general. “

In hotel bookings alone, 75% of them were paid for in cryptocurrencies, leaving 13% with travel credits and only 12% with traditional currencies. Travala’s original altcoin AVA surged to the top with 14% of usage, followed by Binance Pay with 12% and Bitcoin with 8%. There was 41% of the use of other cryptocurrencies.

Travala.com Report – Q3 2021 | Source: Travala.com

The CEO certainly met the expectations of his previous statement, and is now expressing it in his third quarter report:

Although recent years have been the most challenging ever for the travel industry, Travala.com has grown exponentially as the increase in cryptocurrency adoption has more than offset the negative impact of the pandemic.

Travala reports that the Binance Mini-App integration, which allows customers to purchase services directly from their Binance exchange wallets, “has grown rapidly to attract more bookings than any individual token.”

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AVA is a decentralized token from Travala that provides economic incentives to users and aims to build a community of guests and hosts who have the ability to vote within the platform. 44,438 AVA codes have been issued for “Standard Reservation Returns, Smart Loyalty, and Referral Program Rewards,” which translates to $155,248.

Since August 2021, 30% of net revenue from Travala.com has now been transferred to AVA and added to the Community Pool on a monthly basis. (…) Tokens will be used for initiatives that expand the reach of AVA tokens and create more diverse use cases, which we anticipate will benefit the Travala.com platform as well as AVA.

Travala has started implementing Community Pool and Community Vote using the decentralized governance of AVA tokens to give its users a real opportunity to suggest changes.

The community proposals came up with a concept they are currently working on, “Proof of Travel” NFTs, which was approved by 89.6% of the community vote. It consists in allowing their users to claim NFTs through a blockchain-based record of their trips as part of their smart membership status.

We can expect that launch during the fourth quarter, as they said they are “dedicating a lot of resources to this as a priority.”

They are also planning more partnerships to integrate their widget into other exchanges and metaverses, as well as upgrade their wallet infrastructure to support BEP2, BEP20 and ERC20 tokens.

The company invested in growing its development team 23% during the third quarter, as it hired engineers and customer support teams to improve its core platform and reservation infrastructure. They’re aiming to grow their team to 50% in the fourth quarter.

Travala announced that it plans to continue to grow and expand the reach of its platform, with a focus on providing a better booking experience for “crypto travelers around the world.” As the travel industry has been greatly affected by the times of the pandemic, the company is aiming for exponential growth by adapting crypto innovations to the industry.

So far, with Travala’s report alone, many can see how cryptocurrency adoption brings the potential for growth, innovation, jobs, and even new ways to travel and experience the world. As the pandemic has changed so many aspects of everyone’s life, it is great to see that blockchain technology has made improvements.

Related reading | CZ: Epidemiological situation has benefited the crypto industry

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Total cryptocurrency market cap at $2.6 trillion | Source: Tradingview



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