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NFTs in Hospitality Sector

A cosmopolitan and “digital-way-of-life” meets the old-world hospitality glamour!



The situation is a real challenge, especially for hotels, in the current pandemic. Well-known hotels all over the world, in tourist regions and cities, are currently closed.


In spite of these situations, there are new opportunities opening for the digital world. As we are already experiencing, everything-digital! Since the emergence of NFTs, digital ownership is becoming mainstream now. Thanks to blockchain technology!


Meanwhile, you may check more about NFTs in our report.


Now, let's take a look at where does NFTs stand in the hospitality sector.


LABS Group, an end-to-end blockchain property investment platform, began its auction of the world's first-ever community-owned resort and Rewarding Timeshare (RTS) non-fungible token on July 15, 2021. It has successfully raised USD 3.65m for Kunang Kunang Resort(named after 'fireflies').


Each RTS-NFT comes with a staying right that can be swapped with other RTS-NFT holders, among other benefits. Additionally, there's a naming right NFT to be auctioned to grant the holder the right to name the resort, along with an annual stay of 10 days. This auction will also offer a one-time naming right for the top 15 bidders to name rooms of the resort.

'LABS is introducing a revolutionary cross-dimensional investment opportunity that allows everyday investors to purchase overseas property easily, by lowering the entry point of property ownership and removing both geographical and legal barriers.'

-Mahesh Harilela, Chairman, LABS Group


It is getting interesting, isn't it?


Another use case of NFTs is the Crypto Hotel opened by UNYCU.


UNYCU opened a new chapter in its history with the unveiling of the Crypto Hotel, the first NFT hotel worldwide. The Crypto Hotel is an urban hideaway where modern luxury meets tech. It exists in digital form 100% in the blockchain-powered by Ethereum and hence, can be accessed anytime, anywhere. Design, technology, service excellence, and sustainability play an important role.


The Crypto Hotel has every facility like a real hotel- 100 rooms including executive rooms and suites. The hotel is close to Crypto City, Crypto Forrest, and Crypto Mountain. One can have a great view outside the hotel rooms over the open sea, the beach, the pool area, and the Crypto golf course. The Crypto Hotel has several restaurants, bars, casinos, theater, wellness spaces, spas, a lobby, and meeting, and conference spaces. Not only that, there is a crypto farm and a crypto garden for individual hotel supplies and solar panels, wind power for obtaining energy. Sustainability is taken care of in the development process. The entire landscape, the hotel surroundings, the hotel, and all hotel rooms are gradually designed and published.


They are rolling out this project as an NFT project – the first NFT hotel 100% in the blockchain. Everything will change from now on, especially tourism and hotels, according to the founder Johannes Fritz Groebler.


It is in all of our best interest to see the industry grow in a unique way and this is the much-needed catalyst to reignite the spirit that we all need during this pandemic.







The Team:



Shriya Madan, an ardent learner, a digital enthusiast, aspires to make an impact in the real world with the power of technology


Pranjali Apurva, driven by curiosity, converging design principles with digital transformation

BLVCK PiXEL is a Digital Innovation Consultancy headquartered in Paris. We aim to bridge the gap between Technology & Business through Design-led Strategy. Connect with us.











References:

https://unycu.com/hotels/crypto-hotel

https://www.bloomberg.com/press-releases/2021-07-12/the-world-s-first-nft-resort-by-labs-group-begins-auction-on-july-15