There is no doubt that the hotel industry is using technology in hotel management in daily operations. Hoteliers are also showing interest in NFT technology. They are making NFT bookings to showcase the videos and artwork of the hotel.
Firstly, let’s understand what NFT is.
What is NFT?
NFT stands for nonfungible token. It is a cryptographic asset that uses blockchain technology to store data. The data or information stored in the NFT can be text, image, video, gifs, etc.
This data is secured and can only be accessible by the owner with their digital signatures on it. We can say that the NFT is used to store the artwork in digital form and monetize it.
Hence we can say that one NFT image is not equal to another NFT image. Because both of them have different values.
Since the year 2018, we have seen that NFT is slowly penetrating the market. With the below graph, we can see that NFT is taking a boom exponentially.
Image Source Block. co data for NFT
From the year 2021, the Ethereum NFT trades are up to 2.93m till now.
Hence we can say the use of the NFT will increase more after 2023 too. NFT will be applied in the hotel industry in many ways.
Trends Of NFT Booking In The Hotel Industry
Many hotels globally use NFT for hotel room bookings, purchasing food or discount coupons, and many other purposes.
“The Power Of Travel” affiliate program is started by Marriott International. Many artists have registered themselves in this affiliate marketing program.
The winner of this affiliate program won 2,00,000 Marriott Bonvoye points and one NFT.
Similarly, Travel Club in Thailand initiated online booking by blockchain technology. They initiated the NFT images of elephants that are free from chains. It promotes wildlife conservation.
Last but not least, New York’s NoMo SoHo hotel is the first hotel that booked an NFT hotel room.
This hotel is creating and offering interesting and amazing packages to promote booking through NFT hotel room.
Let’s now discuss how NFT booking is used in the hotel industry.
1) Attractive architecture
NFT in restaurants is used in making coupons and extra benefits to customers. Gifs, cartoon images, and artwork like discount coupons for a customer. Each customer will buy each NFT asset to purchase any individual meal.
Not only this, large-scale restaurants can use the NFT in the restoration decoration. Hoteliers can buy attractive artwork for the wall and floor decoration.
It will attract the customer for having a beautiful ambiance. For instance, we can say that the hotel’s kitchen has kitchen-related images on the floor and the map.
2) Virtual Hotels
Hoteleir are creating the virtul NFT for the uesrs. The customer can see the hotel virtually. If they are booking the room, they can see the room with the virtual rooms.
They can feel the vibe and the ambiance of the room and make their decisions about whether they would like to proceed with room booking or not. Visitors can also tell what kind of modification they want in the service or not.
3) Customer Loyalty Program
Hotel loyalty programs are conducted to increase the customer base.
Here the NFT is used as the asset in form of artwork, gifs, or any other way. The hotels can conduct a loyalty program that by giving them loyalty points on the NFT.
Also, if any customer purchases two or more NFTs then hoteliers provide them discounts consecutively. NFT’s loyalty program is a very good strategy to hold the customer. As the customer waits for future benefits and points.
Hence the number of NFT bookings increases the customer in the hotel industry.
4) Customer ID Verification
Another use case for NFTs in the travel industry is identity verification. With an NFT-based solution, travelers can prove their identity securely and efficiently through security or customs controls.
The hotel industry is just one of many industries that NFTs can transform. Here the NFT booking plays a vital role. When a customer books a room through the hotel website, sometimes they need to upload their ID.
Here NFT plays a vital role in guest security. It checks whether the guest is guilty-free or not.
Hence, we can conclude that NFT is trending in the market at its peak. Bookings by NFT hotel room, coupon, architecture, in all these things NFT is used. Hence, we can say that NFT is useful in security and increases the guest experience.
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