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Saturday, May 28, 2022

NFTs to Create Lodging Reservations

Unusual Application for NFTs

 Hotels Using NFTs to Create ‘StubHub’ for Lodging Reservations

The Wall Street Journal, Peter Grant, May 24, 2022

Some hotels are wagering they can reduce excess inventory from sudden cancellations by converting room nights into nonfungible tokens (NFTs) that guests can buy or sell. The Pinktada startup has launched a booking system that lets guests purchase NFTs to reserve rooms at participating hotels in the Caribbean, Mexico, San Francisco, and Hawaii, at a discount from what each establishment would charge for a refundable reservation. The hotels' revenue is assured whether the room is used or not, and guests whose plans change can use the tokens for other Pinktada resorts, or sell them to other travelers in the network. Pinktada said it only allows its members to participate in its marketplace, and makes membership data available to the property owners. .... ' 

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