Travala launches accommodation sharing platform Dtravel, token TRVL simultaneously listed on Binance Smart Chain and Ethereum

The well-known accommodation platform Travala, under the Binance umbrella, is set to launch a decentralized version called Dtravel and issue its native token TRVL. The business model will be similar to Airbnb's accommodation sharing platform, while also positioning itself as a competitor.

Travala.com

Binance made a strategic investment in the accommodation platform Travala in May last year, while Travala also merged with the flight booking platform TravelbyBit.

At that time, the Travala token AVA surged 400% from 0.1 to 0.38 USD within ten days, and in early April this year, it surpassed 6 USD. Despite falling to 3 USD due to a significant market correction, its market value still ranks around 200.

The newly launched Dtravel will issue its native token TRVL on Binance Smart Chain (BSC) and the Ethereum network.

The Decentralized Version of Airbnb, "Dtravel"

According to a press release, Dtravel raised $5 million in its first round of financing. The release emphasizes that unlike centralized platforms like Airbnb, Dtravel is collectively managed through a decentralized autonomous organization, Dtravel DAO, and community. The TRVL token has governance functions, allowing the community to vote on the platform's future direction.

The press release from Dtravel points out that in the past, the accommodation sharing economy was dominated by a few enterprises. Although the sharing economy has risen, it has become overly centralized, with platforms charging up to 20% in fees (which should actually be 3-15%) and not accepting cryptocurrency payments. In contrast, Dtravel charges only 7.5% in fees and will lower transaction costs by accepting crypto payments.

CEO of Travala.com, Juan Otero, stated:

Early accommodation sharing platforms were with users, but over time, the situation changed. These platforms face immense pressure from shareholders and naturally need to maximize profits as much as possible from each transaction, including charging high fees and not supporting crypto payments.

Blockchain Sharing Platform Case Studies

Airbnb and Uber are nearly billion-dollar giants in the sharing economy sector. Given such significant business opportunities, Dtravel is definitely not the first project to try to carve out a piece of this lucrative market.

As early as February 2018, the "Beenest," which was dubbed the Airbnb blockchain version, raised 5,000 ETH through an ICO, equivalent to about $4.5 million at the time. It ultimately failed due to a lack of sustainable revenue models, and its token, Bee Token, has long been delisted.

As Binance continues to expand Travala's business in promoting crypto payments, Travala is the first merchant to support payment features on Binance Pay, allowing hotel bookings through the Binance trading app.

Nevertheless, Travala's core business still has a considerable gap compared to its competitor Booking.com, which ranks as high as 59 globally, while Travala is at 106,705.