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Hotels that use NFT to create StubHub for booking accommodation

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Some resort owners think they have found a way to avoid delays with excess inventory if guests cancel at the last minute.

This includes converting rooms for sale in incompatible tokensor NFT, which can be bought or sold by hotel guests, similar to the StubHub market for tickets to concerts and sporting events.

The owners say this ensures that they are paid for the rooms because guests will sell their bookings at the market if they choose not to go, and appeal to travelers who are passionate about crypto-enthusiasm.

“We can contact another consumer who may not be booking in the traditional way,” said Jason Kicek, senior vice president, Casa de Campo Resort & Villas, a Dominican Republic resort that plans to start booking rooms at NFT soon.

Casa de Campo has signed up with startup Pinktada, which recently launched a booking system that includes hotels in the Caribbean, Mexico, San Francisco and Hawaii.

Hotel guests can book rooms at these facilities by purchasing NFT through Pinktada. Using this system, guests can book a discounted room before the hotel charges for the return booking.

The growing number of video games where you can make money, in which gamers trade NFT, provides an insight into how the metaworld could attract users with monetary rewards and what benefits can come with it. Photo illustration: Josephine Chu

The sale is final from the point of view of the hotel owners, so their income is guaranteed regardless of whether the room is used or not. If travelers change plans, they can use tokens for other Pinktada hotels or sell them to another traveler in the Pinktada network.

Pinktada (the name refers to a species of pearl oyster) promises to be the ultimate buyer if it is not bought by another traveler.

“You give hotel owners confidence in revenue, but you give travelers the flexibility if their plans change to selling or exchanging tokens,” said Mark Gordon, co-founder and CEO of Pinktada Hospitality.

Another startup that uses NFT is Stay Open, which converts unused retail and office space into dormitory-like housing. Earlier this spring Stay Open began selling 10,000 NFT for one-tenth of Ethereum coins each, in part to raise capital to add new seats.

Each NFT includes one “token stay” for a free night at one of the existing Stay Open residences in Venes Beach, California, or others that the company plans to open. NFT owners also receive tokens to use Stay Open coworking and other benefits.

Token owners can use them, give as gifts or sell, said Steve Spielski, co-founder and CEO of Stay Open. If the demand in the local housing market is high, “you can even make money,” he said.

NFTs that live on the blockchain as cryptocurrencies became headlines last year when digital works were sold for grandiose amounts, such as $ 69 million for a collage called “Every Day: The First 5,000 Days” and $ 2.9 million for the first tweet from

Twitter Inc.

co-founder Jack Dorsey.

This year, NFT sales fell sharply along with the highly speculative cryptocurrency market, which was killed by rising interest rates. But many artists and startups are still enthusiastic about NFT, especially those who have utilities such as hotel reservations.

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In the real estate industry, NFTs are also used by groups to raise capital to buy golf courses or land, giving tokens buyers a share in projects. And NFT exists used by the metaverse of business to sell digital land in virtual worlds such as Sandbox and Decentraland.

A growing number of proptech startups, backed by Fifth Wall, one of the largest venture capital ventures in real estate, are exploring the use of NFT, said Dan Venhold, a partner at Fifth Wall. “This is the conversation that most often takes place at council meetings,” he said.

Some hotel owners may be reluctant to sell NFT bookings, which could be resold for fear of not knowing the identities of their guests, according to some hotel industry participants. Pinktada said it addresses this concern by allowing its members who register for free to participate in its market, and by making membership data available to owners.

Noble House Hotels & Resorts, a hotel management company, has signed up with Pinktada so travelers can use it to book rooms at two hotels in San Francisco, the Argonaut Hotel and Hotel Zoe.

“This is a little unexplored area,” said Stefan Mule, head of the region. “We, like everyone else, are interested to see how it will shake.”

Write Peter Grant on peter.grant@wsj.com

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