Dtravel said it is now taking crypto bookings for short-term rentals on a blockchain using smart contracts to process bookings directly between hosts and guests.
In fact, Dtravel, which describes itself as “a web3 direct booking tool,” said it facilitated the “first” hospitality booking on blockchain using a smart contact between UK host Amir Sadjady and a guest. Here are Sadjady’s listings.
Skift couldn’t independently vertify whether this is indeed a “first.”
Smart contracts automatically execute certain actions between the parties and lead to “lower transaction costs (than on online travel agencies), greater payment finality and non-custodial payments.”
A look at one of Sadjady’s London listings shows the nightly rate, a cleaning fee, a damage deposit, and a Dtravel platform fee amounting to around 4.3 percent of the nightly rate. If a guest pays with crypto the platform fee disappears, and if the guest uses a credit card the platform fee must be paid.
Dtravel said 5 percent of the tranacation goes to a community treasury. “However, these fees are being returned to hosts in the form of TRVL rewards, which is Dtravel’s native token, during the beta period,” the company said.
The company claims to have hundreds of available listings using smart contracts.
Dtravel said it was founded by former executives of major online travel agencies, and it has received $7.5 million in funding.