Cryptocurrencies have been boldly improving a variety of industries since their introduction, and the impact is now benefiting the travel industry. Travala is a next-generation travel agency with online bookings for hotels and other accommodations. Through the effective use of cryptocurrency technology and the progressive improvements that its developers continue to make to the platform, Travala ushers in a new era in the travel world. This article covers exactly what you need to know about Travala.
What Is Travala?
Travala is a travel site that enables its customers to grow the platform and earn incentives through its native token, AVA. At the same time, the platform offers booking assistance for more than half a million properties worldwide.
While Travala can be compared to other online travel platforms, such as Booking.com, it’s one of the few platforms to undergo a digital transformation with a system designed using cryptocurrency technology to create a next-generation solution. By harnessing the power of blockchain technology and establishing a strong community, Travala can support bookings, offer travel incentives, provide travel gift cards with travel credits, maintain lower costs and deliver other key benefits to its customers. In addition to being supported by AVA, the platform is compatible with 40 other cryptocurrencies, including BTC, DOGE and LTC.
History of Travala
Initially branded as Concierge, Travala was rebranded in 2018. Its primary goal is to create a well-designed travel solution that takes full advantage of blockchain technology benefits. The launch of the initial coin resulted in $2.6 million in funding, which allowed the platform to expand and offer its services to 200 countries worldwide.
Travala was founded by Steve Hipwell, Juan Otero and Matthew Lopez. Hipwell continues to serve as the company’s CEO. Otero manages resources and activities, while Lopez is the company’s CFO and Chief Information Officer. The group also relies on numerous experts and advisors in the blockchain and travel industries. These individuals maintain key roles in the continued development of the platform.
Travala’s Goals
Travala’s co-founders initially identified several key areas in the travel industry that could be improved through their platform’s use of blockchain technology. For example, they identified a lack of global booking platforms that accept crypto as a payment method. Travala accepts both fiat and crypto payments for bookings — without booking fees — and gives its customers guaranteed booking with immediate confirmations.
The co-founders also discovered that many global booking platforms have expensive fees and hidden costs. Therefore, Travala strives to provide its customers with more affordable and transparent booking solutions. In fact, it states that its services are available with savings of 15% or more as compared to the competition. At the same time, it fully discloses its fees to customers upfront so they’re not surprised by the final cost of their bookings.
Travala also promotes the use of crypto payments for bookings. Customers who pay for their travel plans with AVA tokens qualify for discounts and loyalty promotions, and can save an additional 10% through referrals and AVA staking. Regardless of how a customer pays, all refunds are made using AVA tokens.
How Does Travala Work?
Travala’s platform features a hassle-free user experience. After creating a Travala account, new users can earn a bonus by registering to use AVA tokens. Bookings may be completed using either crypto payments, AVA tokens or fiat currency. Special pricing is available if you pay using AVA tokens. While traveling, users may also use AVA tokens for various special services and upgrades from affiliated partners. After their travel, Travala members can receive additional AVA tokens through referrals and reviews.
On a more detailed level, the platform’s ecosystem consists of three layers. The DApp layer is the user interface. It allows customers to research travel options, complete bookings and purchase travel insurance. In addition, it supports the functionality of the Travala built-in wallet, and lays the infrastructure for user-created reviews.
Next, the Protocol layer is used to host smart contracts and manage the platform’s economic functions. This layer uses the NEO blockchain to support bookings. It also conveys communications between partners, suppliers and users. The Protocol layer uses proxy smart contracts to complete token-based transactions on behalf of service providers, property owners and users.
Finally, the Consensus layer is designed on the NEO blockchain and uses a delegated Byzantine fault tolerant (dBFT) protocol. The Consensus layer can handle a hefty 1,000 transactions per second (TPS). Proxy smart contracts track monetary operations and manage data, including the AVA balance of each user. Users’ reputations and the governance of records are also addressed on this third layer.
Features of Travala
As a next-generation booking solution for the travel industry, Travala is designed with several exciting features not available on other travel platforms. Let’s take a look at some of them.
Smart Program
When users accumulate 250 AVA tokens, they have the opportunity to join Travala’s Smart Program by staking these coins. The Smart Program offers several money-saving benefits. For example, program members can save up to 13% on bookings, with the discount applied to the listed prices at checkout. Members can also earn from staking their AVA tokens with Travala. There are five levels. Level 5 requires 2,500 tokens and offers the maximum benefits to Smart Program members.
Invite Program
Joining the Invite Program is easy to do, with just one requirement: Send invites to others and get them to book a hotel for $400 or more on the Travala platform. Invitees are given a $25 incentive for joining Travala and making a booking, and Invite Program members get $25 for each invitee who signs up and completes a hotel booking of at least $400. A member’s activity can be monitored through a dedicated dashboard on the website or app.
Decentralized Model
Most of today’s online booking platforms use a centralized system, but Travala is a decentralized finance (DeFi) model, offering a number of notable benefits. For instance, property owners can create their own discounts, loyalty rewards and promotions. They also have the option to accept cryptocurrency payments. Data analytics can be used to determine the optimal overnight rate for comparable accommodations. With these and other benefits, the platform delivers a transformational web3 experience.
Governance
Users who are Smart Program members (or those who have staked AVA tokens) can participate in community voting. Announcements are made to Smart Program members when a new Travala proposal is available to review and vote on. Only after a required voting threshold has been reached can the approval or failure of a proposal be determined. Approved proposals are then scheduled to launch.
What Are Travel Tiger NFTs?
Travel Tiger NFTs are utility non-fungible tokens, accessible via the Ethereum blockchain. By holding a Travel Tiger NFT, a user may access a variety of incentives and promotions.
There are 1,000 unique Travel Tiger NFTs available. “Travel Tigers” go on exciting journeys to check off travel experiences on their bucket lists. While Travel Tiger NFTs have a solid storyline that includes travel to the Mediterranean Sea, the Andes, the French Riviera and more, they also serve a utility function for their owners: Currently, those who own a Travel Tiger NFT have access to Smart Diamond benefits, and are registered in the Argentine Andes Adventure Giveaway. Additional promotions and offers are expected going forward.
Smart Diamond Benefits
Since Smart Program members on Travala have at least 2,500 AVA tokens and own a Travel Tiger NFT, they can take advantage of a Smart Diamond membership. These users can receive an Ambassador Bonus, which provides up to 10% of platform commissions after they promote Travala.com through personal marketing efforts. They can also take advantage of travel drops, as well as exclusive metaverse and real-life events, and use Concierge.io to make bookings. Additional benefits of the Smart Diamond program are a 3% discount on booking prices, 10% loyalty rewards, the Proof of Travel NFT program, travel experience drops and access to TRVL.
Argentine Andes Adventure Giveaway
Members who own a Travel Tiger NFT numbered between 1 and 941 are automatically entered into the Argentine Andes Adventure Giveaway, featuring a four-day trip to Mendoza, Argentina, from December 13–16, 2022. The winner will receive air travel for two adults, a three-night stay in the luxurious Hotel de Cielo ecolodge hotel room and airport transfers. The trip also includes three meals per day, a special gift pack, a wine tasting and tour, stargazing, a helicopter tour and a guided hike.
Advantages of Using Travala
When Travala launched a few years ago, it was just one of many small startups trying to gain traction in a busy marketplace. However, its unique concept and effective design have enabled it to grow quickly, and it’s now one of the top online travel agencies.
Extensive and Money-Saving Benefits for AVA Users
Travala was designed specifically for greater transparency and lower fees. In addition to having no booking fees, it provides AVA token users with numerous incentives and benefits. Not only are discounts available through the Smart Diamond Program, Smart Program and Invite Program, but users can also benefit from writing reviews and owning a Travel Tiger NFT.
A Wide Variety of Travel Selections
Travala users have access to flights, travel activities, hotels and other accommodations. In fact, the platform offers more than 3 million unique products, making it one of the largest booking platforms currently online. While discounts and incentives are available to those who pay with AVA tokens, other payment options include various cryptocurrencies and fiat money.
A Well-Designed Blockchain Platform
Each of the three distinctive layers of this platform provides unique features and benefits. The platform supports everything from researching and booking travel options to writing reviews, setting a referral program dashboard and more. It’s available in both PC and mobile formats for ease of use.
Disadvantages of Using Travala
While Travala delivers exceptional benefits, it has a few downsides to be aware of before taking advantage of its features and booking services. While these disadvantages may not dissuade some individuals, they could be key deterrents for others.
Key Benefits Are Only Available to AVA Users
One of the primary selling points associated with Travala is its ability to save users money on travel expenses, and give them access to other financial incentives and benefits. However, its money-saving programs are offered exclusively to those who use AVA tokens and maintain them in their AVA wallet. The most sizable discounts on travel are also available to those who pay for their trips using AVA tokens.
Blockchain Protocols Are Controlled by Third Parties
The blockchain protocols that support AVA tokens are supported by third parties.Thus, third parties are responsible for changes to protocols and malfunctions that could impact AVA tokens. Other concerns associated with third-party control include the possibilities of double-spend attacks and mining power attacks. In addition, quantum computing advances could jeopardize the security and functionality of the protocols and the AVA token.
Travala Road Map
Travala has come a long way since it was first dreamed up as a concept in 2017. Its co-founders spent many months developing it before it was officially launched in 2018. The initial launch brought approximately $2.6 million in funding, a sizable amount that enabled the co-founders to expand the platform to serve more than 200 countries. Today, this online travel agency website serves customers in more than 230 countries. It offers 500,000 different accommodations to its many customers.
Travala’s platform is continually being updated. Because governance is held by AVA token holders who are members of the Smart Program, the updates that are passed are directly under their control. One of the projects that’s currently under consideration is a branding refresh. Token holders are also considering developing travel NFTs, and accepting additional cryptocurrencies on the website. These potential options are FLOKI, SHIB and CAKE, which would join dozens of other cryptocurrencies currently accepted by Travala.
Travala is also intending to introduce Review Rewards where users can earn AVA tokens in exchange for leaving authentic reviews. This would increase the number of use cases for the AVA token and boost its value.
AVA Tokenomics
AVA tokens can be used to purchase accommodations and other travel products through the Travala website and mobile app. The market cap for this cryptocurrency is more than $38 million as of September 2022. There are more than 51 million tokens circulating, and the total supply stands at roughly 61 million tokens. Like any other crypto, the price fluctuates constantly, and its current price is $0.74.
AVA are supported by numerous cryptocurrency exchanges, including Bybit, which adds to their functionality as investment tokens for trading purposes. With many incentives in place for the platform’s users to purchase AVA tokens, the available supply may gradually shrink in the months and years to come.
AVA Price Prediction
With the initial launch of AVA in 2018, its price was roughly $0.15 per token. This held relatively constant for many months, before reaching its peak of $5.30 in April 2021. Since that time, the price has experienced several lesser peaks, and now sits around $0.75 per token. Trading activity dramatically increased around the April 2021 peak, and AVA has continued to be of interest to traders.
Looking forward, the daily fluctuation may take the price to more than $0.80 per token in the near future. By 2025, the price is predicted to double to $1.60 per token. By 2030, it may reach $3.99, and looking farther ahead could be valued at $7.98 in 2040. This forecast for growth may be related to a limited supply of AVA tokens and growing demand via usage on Travala.
Where to Buy AVA
While many people initially purchase AVA tokens to take advantage of savings opportunities and other incentives available through Travala, they may continue to hold the coins as an investment or for future travel plans. However, some people purchase AVA tokens as an investment, with no immediate intention to travel.
Regardless of your intent, AVA tokens are available to both travelers and investors through several popular exchanges. One of these is Bybit, which has an exceptional platform that supports easy, well-informed trading. If you’re intending to trade AVA/USDT, make sure you take advantage of Bybit’s current zero fees campaign.
Keep in mind that new users on Travala are prompted up front to connect their cryptocurrency wallet (if they already have one) to their account. They can then use AVA tokens, as well as other cryptocurrencies, to schedule their bookings through Travala’s website or mobile app.
Is AVA a Good Investment?
Cryptocurrency investments are rightfully well-known for their volatility. While some people engage in day trading, long-term investments in solid cryptocurrencies could prove lucrative.
Is AVA one of the cryptocurrencies with staying power and long-term growth potential? While some tokens are largely used for trading purposes alone, AVA has bona fide functionality on Travala’s DeFi platform. Many travelers are taking advantage of AVA’s functionality for secure purchases, as well as to access discounts, incentives and more through the platform. Travala is a major travel industry player that has progressively expanded its offerings and reach since its inception, and it continues to grow today. With this in mind, it’s reasonable to expect that AVA tokens will continue to be widely in use going forward.
Although the AVA price has come off of its April 2021 peak, it continues to trade much higher than its launch price. Moreover, AVA’s price is expected to continue growing in the years to come. As is the case with most cryptocurrencies, the intraday price is generally volatile most of the time. That said, AVA is a solid investment for those who plan to hold the coin for a longer period of time. In addition, its volatility could result in significant returns for savvy day traders.
Closing Thoughts
Travala was originally established as a unique platform that accepts crypto payment for travel bookings. While it accepts a variety of cryptocurrencies, using its native AVA token creates exciting discounts and incentives. Travala has taken the use of cryptocurrency to a new level, and brought crypto payments into the mainstream in the travel industry. This online travel agency platform continues to evolve and remains one to watch going forward.