Yet, non-tech and non-crypto companies need help transitioning from normal web/app development to NFT-based development. Some businesses might even hear the term “travel NFTs” for the first time. This article will briefly cover everything you have to know about travel NFTs if you want to integrate those assets into your services, with some notable examples for reference.
What are NFTs? What does Travel NFT mean?
Stands for “non-fungible tokens”, NFTs are creative items and collectibles listed on the blockchain network as digital assets. They are completely distinguishable, and 100% secure due to the special metadata noted on the smart contracts. Even though NFTs can’t be copyrighted, they can be minted, bought or sold on a large scale.
NFTs can be anything, from pictures and music samples to in-game items and virtual lands. Of course, travel-related services and gifts could also be converted into NFT assets and collections. Just like any types of NFTs, those tourism-based digital assets are unique, exclusive, and protected by cryptographic conditions. Yet, travel NFTs are built based on real-life tourism related to hotels, tickets, travel destinations, exclusive gifts, etc.
Travel NFTs, in recent days, have already been implemented in many tourism-based services. To be more specific, the most common items that travel companies can integrate NFT-related assets into are tickets and tourism-based vouchers. Those collectibles will be listed on the blockchain network, and users can purchase them via auctions. Moreover, when bidders successfully acquire the desired NFT travel, they will receive real-life items and tradable tokens.
Benefits of Travel NFTs application in the Travel & Tourism industry
Knowing the basics of NFTs and travel-related digital assets, let’s look at some of the most benefits of NFT-based applications in the tourism industry. Those benefits will assist you better in integrating travel NFTs into every corner of your business, both tourism-related and blockchain-related.
Diversify the branding activities
Implementing NFT-based assets and items into travel-based marketing strategies has proven effective in how businesses brand their services on a large scale. According to Forbes, it is likely expected that the future will not see a repeat of the booming trends from 2021, but there is an anticipation for a potential resurgence in 2024. This positive outlooks stem from utility and value-driven projects, creative collaborations, and demand for real-world applications. And travel business that implemented NFTs is not exception.
To be more specific, travel and tourism companies can release their NFTs through airdrops and exclusive gifts, which attracts tech-savvy investors and travel geeks. Moreover, NFTs can be used as codes for tickets and vouchers, which tourists can purchase and claim special gifts and collectibles. Those prizes can also be traded for a higher value, which can captivate potential customers and emphasize the business’s branding strategy.
Improve the experience of tourism
Travel experience is always the sole target of every tourism-related business. With the help of NFTs, the probability of travel activities is broadened to a much larger scale than ever. Clients can join in deeper activities on their trips, such as tracking destinations, claiming digital assets from visiting hotels and even taking unique shots that will be listed on the blockchain network.
Businesses can also benefit from integrating NFTs into their services. Tickets can be more than just pass-through paper, in which businesses can track and record the destinations that customers have visited. Therefore, travel businesses can easily alter the options for their visitors with a free and customized approach.
Boost and even conversions and sales
For tourism businesses, conversions and sales are important to their development strategy, especially regarding the broadening scale of destinations. However, visitors only prefer some notable places and skip the rest, which may affect the investment. NFTs solve that problem by integrating more activities and digital services for customers visiting newly open places, while updating the engagement methods on the already-preferred destinations.
This will ensure all tourist attractions generate the same value for the business and attract more potential visitors interested in digital assets and traveling. Moreover, by widening the activities for customers, conversions and sales will skyrocket, and the brand will be more well-known.
Maintain the fast-forward business
NFTs are not just a one-time trend. This is the baseline for businesses that want to keep their investment in the moving position and maintain their fast-forward position in the digital-based race. Companies can do this through numerous customer-centered programs, including loyalty gift cards and exclusive airdrops.
For first-time visitors, entrance rewards and discounts should contribute to the stable development of travel businesses. Those rewards could be tokens, digital assets or even free tradeable tickets that customers can easily get acquainted with.
8 Best examples of travel brands incorporating travel NFTs
Marriott’s power of travel campaign
When it comes to tourism-related services, one of the pioneers in the implementation of NFTs and blockchain is Marriott. The collaboration between Marriott Convoy and JVY, TXREK and Erick Nicolay – the three most well-known digital artists in the world of NFT – had established one of the best NFT-based campaigns of tourism: Power of Travel.
Back to 2021, during the Art Basel Miami Beach event, this campaign was introduced through three distinctive concepts: adventure-based experiences, environmental-related feelings and indoor-outdoor combinations. Of course, those digital assets were given away to all the guests who participated and created a word-of-mouth effect. As a result, Marriott’s marketing strategy and the artists’ reputations were more well-known than ever.
Travala’s Tiger Club
The development of Travala was based on Avalanche and Ethereum blockchain; therefore, their implementation of NFTs is inevitable. Their campaign – Travel Tiger Club – enables all members browsing Travala to acquire and store digital assets. Those assets can be used to unlock exclusive content known as “Smart Diamond,” which includes vouchers, points and personalized gifts.
To be more specific, every customer who wants to unlock Smart Diamond rewards has to purchase a Travel Tiger NFT and has at least 2500 AVA in their wallet. Smart Diamond Program offers tailored bonuses, notably Smart Discount, Exclusive Access and Proof of Travel.
Galileo Travel Future Club
The Travel Future Club was the campaign that assists Galileo’s tourism development after the COVID-19 pandemic. The token $TRVL is traded among customers, which provides users with some benefits, including spa vouchers, discounts and staking presents. Moreover, customers can redeem those advantages long-term – at least 3 to 5 years, as claimed.
Those assets can also act like any kind of NFT – you can trade, sell and store them freely, safely and securely. This will generate continuous profits, erase the emergence of cancelation fees and bring the best experience to both parties: the business and its clients.
Dream Hollywood Hotel
Being one of the most popular hotels in the US, Dream Hollywood is also a pioneer when it comes to NFT-based asset implementation. By partnering with The Crypt Gallery, the first NFT exhibition came to the audience. This digital exhibition not only provided audiences with artistic designs but also with education on NFTs and blockchain.
Moreover, the membership program named “Social Club” membership program from Dream Hollywood Hotel is based entirely on NFTs, including every benefit similar to the usual travel-related bonuses. Some special bonuses include private Gunnar Peterson Gym access, Lincoln luxury house cars, private Crypt Gallery events and first-class poolside lounge chairs.
Ca Di Dio
Located in Venice, Italy, Ca Di Dio’s main targets are potential customers with luxurious tastes based on fast-forward experiences. Therefore, their implementation of NFTs into their services came as no surprise. Their assets are bid on at least 1 ETH, which includes a one-person trip to the highest-quality site, a private boat and a 5-star dinner.
AirBaltic
AirBaltic is the first hotel in Latvia to apply NFT-based assets into its services. Their strategy is to promote AirBaltic’s exclusive services and bonuses and also showcase some of the best destinations in Latvia. Those assets can be traded and held, and there will be rewards and user-centered gifts for customers participating in AirBaltic’s NFT Club.
Travel Lucky Ape
Travel Lucky Ape has been the leader of the NFT-based travel branch for a long time. With the release of the metaverse and virtual lands, their position is reinforced. This is also the first NFT project that offers access to exclusive worldwide boutique hotels and residents.
With over 10000 NFTs featurette, Travel Lucky Ape can be considered one of the largest collections for travel enthusiasts and crypto geeks. This project also has its own NFT Club, which can be considered as membership card with which traders can freely interact to generate profits and receive personalized rewards, including a 5-star hotel stay and yacht parties.
Flyfish Club
Flyfish Club (FFC) is the first luxury restaurant to implement NFTs technology into their services and marketing strategies. Their rewards and bonuses can be listed in the blockchain, and even Flyfish Club’s membership card can be traded as an NFT on the market.
The rewards for customers who purchased and staked FFC’s NFTs are entrances to omakase rooms, outdoor experiences, certified restaurants and a 10000 feet space for customers to enjoy. Visitors can acquire them by having Flyfish tokens and Flyfish Omakase tokens in their digital wallets.
The future of travel NFTs
The future of travel NFTs is near, and more travel destinations are implementing NFTs into their business strategies. Through exotic experiences, digitalized services, and exclusive rewards, hotels and resorts are increasing the participation of potential customers, from crypto-based investors to travel-related enthusiasts.
While some might get skeptical, as there are some hidden consequences due to security, regulations and anonymity, travel NFTs are proving to become the next step of tourism’ evolution.
FAQs (Frequently asked questions)
NFTs – in general – are programmed based on the Ethereum blockchain network, which consumes a lot of energy. Therefore, it’s undoubtedly causing some serious consequences to the environment. Yet, people rely more on cleaner and more sustainable blockchain networks than ETH, including Avalanche, Flow and Solana.
For now, travel NFTs can be quite awful to the environment. But in the near future, when more NFTs are developed based on a cleaner blockchain network, the situation can be reversed.
NFTs can benefit in various ways to tourism in terms of marketing and branding strategies. Some of them are listed below:
– Building connections between artistic creators and audiences: This can lead to the creative assets born through collaborations, attracting more potential customers and creating media popularity for both parties.
– Creating exotic, one-of-a-kind rewards from digital assets: Traditional royalties are limited to brick-and-mortar vouchers and gifts. With the help of NFTs, the bonuses will become limitless, from real-life experiences to digital-based rewards.
– Contributing more ownership and monetizing models: With the support of NFTs, ownership can be more secure. The property can be tradeable, but it will be encrypted for one owner only; therefore, travel companies can generate revenues in a variety of ways than ever before.
Wrapping up
Travel NFTs are slowly affecting the way people observe the tourism industry. Though many hindrances ahead, more and more hotels and travel agencies are implementing travel NFTs into their services and digital interactions. If you want to read more exciting blockchain-related articles, check out Synodus’s website now for more details.
Also, if you are struggling to build your NFT marketplace, we’re here to help.
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