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Travala Launches DeFi-Backed Airbnb Rival Dtravel

UTC by Mercy Tukiya Mutanya · 3 min read
Travala Launches DeFi-Backed Airbnb Rival Dtravel
Photo: Unsplash

With 183,000 users in May and 72% bookings made using crypto, Travala had no shortage of investors for Dtravel.

Blockchain-based travel booking platform Travala.com has launched a decentralized property rental service. In a press release on Wednesday, it was revealed that former execs from Airbnb, Expedia and other tech giants had collaborated to create Dtravel. The platform, based on Binance Smart Chain, has been described as ‘decentralized’ and will accept both crypto and fiat payments.

Dtravel: a Cheaper, Decentralized Airbnb?

The platform, a potential rival to already established Airbnb and Vrbo, aims to replace what it describes as a ‘broken home-sharing economy’. It is built on DeFi technology, community-owned and governed through a Dtravel Decentralized Autonomous Organization (DAO) and will use a native token TRVL.

Conventional centralized vacation property-renting services have been criticized for high fees, lack of host-guest communication and limited payment options as most of them only accept fiat as a form of payment.

Dtravel aims to remedy this by:

  • Lower fees. Where conventional house-sharing services can as much as 20% of the booking cost, Dtravel fees are only 7%.
  • Decentralization. Dtravel’s DAO will allow both hosts and guests to have a say in the direction and operations of the platform.
  • More payment options. Dtravel users will be able to make payments not only using fiat but various cryptocurrencies as well. The use of crypto is expected to further lower transaction costs.

In addition to these, hosts will have a Protection Pool of up to $1M. Users will also have a chance to earn by a referral system and participating in user support, troubleshooting and forums.

Juan Otero, co-founder and CEO of Travala.com said:

“Dtravel meets the needs of the home-sharing community first and forever. It’s easy-to-use, highly secure, and optimized for the next generation of hosts and guests looking to take back control of their travel experience.”

Investor Support Dtravel

With 183,000 users in May and 72% bookings made using crypto, Travala had no shortage of investors for Dtravel. The new platform is backed by a $5 million seed round from Kenetic Capital, Future Perfect Ventures, DHVC, Plutus VC, GBV Capital, AU21 Capital, Shima Capital, LD Capital and NGC Ventures, and several other unnamed investors.

“With travel starting to rebound and a record level of interest in blockchain technologies like cryptocurrencies, Dtravel gives eager people what has been missing to date: control and ownership over their own travel experiences. By allowing guests and hosts full participation in their experiences and in the economy they are creating, Dtravel fulfils the true mission of sharing economies,” noted Jalak Jobanputra, Founding Partner of Future/Perfect Ventures.

Blockchain News, Cryptocurrency news, News
Mercy Tukiya Mutanya

Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student. She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.

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