New Partnership Formed to Develop an NFT Marketplace for Hotel Stays, and Travel-Related Products

Beowulf Blockchain, (Beowulf) the global leader in decentralized communications and data cloud network, and Crystal Bay Group (CBG), a well-known leader in tourism development and real estate in Vietnam, announced a new partnership to create an online NFT Marketplace for hotel stays and travel-related products. This partnership is underpinned by the joint vision of Beowulf and the CBG to facilitate high-powered technology initiatives toward building the next generation of the online travel marketplace on the blockchain in order to serve travelers across the globe even better at reduced costs.

As travelers are continuing to deal with the seismic challenges arising from the COVID-19 pandemic such as unexpected lock-downs, delays, or complex procedural processes at the airports, the need for the next generation of online travel marketplace has become the rocket fuel for the societal transformation of tourism; this allows for the flexibility for travelers across the world to trade in their booked trips (including bookings for airline tickets, transportation, and hotel rooms) in order to recover their cost or even make profit on the online marketplace with open transparency, speed, and currency flexibility. This is exactly what this joint partnership will deliver: by tokenizing each hotel night, airbnb’s type of rental houses, and travel-related products via NFT, and allowing the trading of these tokens on the marketplace built on blockchain. Travelers who cannot make it to a hotel or airbnb’s rentals to use their booking can re-sell their NFT tokens on the marketplace to recover the cost or even to make a profit. Travel companies or retail investors can book hotel rooms in advance at a cheap rate, and re-sell them to those who need them for a profit. This flexibility, along with a loyalty program run on Beowulf’s boyoty.com and defiato.com exchange, will bring true value to travelers on a global scale.

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“CBG is committed to identifying partners with a like-minded vision to harness technology and implement a holistic approach in order to put all aspects of tourism into a single but decentralized place that brings true benefits to travelers, travel companies and retail investors (for travel products),” said Mr. Trung Nguyen, Director of CBG. “For this reason, the next generation of travel marketplace needs strategic technology partners, like Beowulf, to provide the right architecture, along with the right expertise to serve travelers even better and more intelligently. With about 2 billion USD in assets and through managing about 50,000 rooms across 450 hotels in Vietnam, the marketplace built together with Beowulf will help manage this colossal booking work more efficiently while delivering true value to our current and future customers. It will surely foster an exciting new era of tourism.”

“We are pleased to partner with CBG,” said Dr. William H. Nguyen, Founder of Beowulf. “With our expertise in blockchain technology, the decentralized cloud infrastructure for data and communication services, and a complete ecosystem including the digital asset exchange DeFiato, we can deploy the NFT marketplace for CBG’s customers quickly, while helping CBG to expand the market globally. The prospect of playing the role of the disruptor in order to help to fundamentally transform the landscape for tourism is a huge motivator. The technological advances at the heart of Beowulf Blockchain can help to address widespread inefficiencies and operational challenges in the implementation of tourism.”

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