Crystal Bay partners to build an online NFT trading platform for hotel stays and tourism

Accordingly, non-fungible tokens, called NFTs (Non-Fungible Tokens), are tokens issued on the blockchain, similar to a cryptocurrency. However, while cryptocurrencies are identical and interchangeable, these NFTs are a unique token, with a separate digital signature for each code and cannot be replaced. Therefore, NFTs are used as digital asset tokens to represent a unique asset in the real or digital world, verified, stored on the blockchain and can be bought and sold.

With this partnership, NFT tokens for each hotel night, Airbnb rental days, and related travel products will be created. These NFT tokens will be listed and traded on the NFT exchange. Travelers who have booked hotel or Airbnb rooms, travel services that cannot be used for any reason, can sell or swap their booked days, services on the NFT exchange to recover costs or even make a profit.

Signing between the two units. Photo: PV

Travel companies or small investors can also book hotel rooms in advance at low prices and resell them to those who want to make a profit. This flexible transaction is linked to the loyalty program on Beowulf's boyoty.com and defiato.com platforms, bringing both usage and investment value to global travelers.

NFTs are becoming increasingly popular in digital content with music, art, and photos. NFTs power a creator economy where creators do not transfer ownership of their content to the platform they use to publicize it. When creators or owners sell their content, the money goes directly to them.

“With our expertise in blockchain technology, decentralized cloud infrastructure for data and communication services, and a complete ecosystem including the DeFiato digital asset exchange, Beowulf can quickly deploy an NFT exchange for Crystal Bay’s customers, while helping Crystal Bay expand its market globally,” said Dr. William H. Nguyen, founder of Beowulf.

5-star Camranh Riviera Hotel. Photo: PV

Mr. Nguyen Tien Trung - General Director of Crystal Bay said: "Owning a large customer base and understanding the needs of tourists, Crystal Bay is a pioneer in creating trends in online travel and consumption in the new normal. Cooperating with Beowulf helps Crystal Bay provide accurate technology architecture and appropriate expertise to serve tourists better and smarter. The transaction platform Crystal Bay built with Beowulf helps manage bookings effectively, while bringing more value to customers on a transparent online transaction platform, speed and currency flexibility."

Crystal Bay is a tourism investment and development group, developing on 3 pillars: International and domestic tourism; Asset management and healthcare according to the all-inclusive model; Investing in tourism real estate ecosystems associated with diverse types of entertainment and experiences. Positioning itself on a different development path, Crystal Bay and its partners create many entertainment - resort complexes with the "All-in-one" trend, contributing to promoting the development of high-end tourism in many localities: Khanh Hoa, Ninh Thuan, Quang Ninh, Binh Thuan...

With more than 15,000 5-star hotel rooms and accompanying entertainment and experience services that have been and are being created in the next 5 years, Crystal Bay is pioneering a new approach to global tourists with the traditional travel service system.

In the context of the constantly changing COVID-19 pandemic, more and more individuals and organizations are joining the NFT market every day. Along with the changing behavior of global consumers, the cooperation between Crystal Bay and Beowulf will soon create a digital tourism product exchange with strong appeal, promoting the development of the domestic and international tourism industry, bringing many convenient utilities in consumption, more savings for tourists in shopping, and smart investment.