Travala (AVA) takes on the challenge of decentralizing vacation rentals.
Journey to the heart of Dtravel
On May 16, 2021, Travala announced in a release its partnership with former executives from Airbnb, Expedia, and other companies to launch the decentralized vacation rental platform Dtravel (TVRL). The latter is designed to become a potential competitor to Airbnb and Vrbo.
The governance of Dtravel is provided by its community via a DAO. The platform uses DeFi by using smart contracts to govern the relationship between hosts and renters. The co-founder and CEO of Travala, Juan Otero, criticizes the traditional home sharing platforms that, according to him, were “aligned with their users in the early days, but over time, this changes”. He also highlighted the fact that “with the need to return profits to shareholders” these platforms had to charge “as much as possible” for each transaction.
Dtravel aims to offer relatively low fees compared to centralized platforms. Decentralization would also solve the problems of lack of communication between hosts and renters on competing centralized platforms. Unlike the latter, Dtravel – obviously – also offers payments in cryptocurrencies.
The classic ingredients of a launch: reward, airdrop, and fundraising
Dtravel’s TRVL token allows its users to pay for stays and participate in the platform’s governance. It can also be used for staking in order to obtain certain rewards. The first 100,000 hosts signed up to the platform will be eligible for the $35 million Dtravel TVL distribution campaign on the Binance Smart Chain (BSC) and Ethereum (ETH).
Travala had more than 183,000 monthly active users as of May 2021, and 72% of all bookings were paid for in cryptos during that month. Dtravel benefits from a $5 million fundraising round from Kenetic Capital, Future Perfect Ventures, DHVC, Plutus VC, GBV Capital, AU21 Capital, Shima Capital, LD Capital and NGC Ventures, and other investors.
Dtravel also represents a further step in the decentralization of real estate. France has also entered the race. Two French players want to revolutionize real estate through blockchain. As for Travala, it continues its efforts to make cryptocurrencies travel to the 4 corners of the world.