Buktrips guarantees ownership for NFT trading in hotel room bookings

A unique case of real-world utility in blockchain travel & hospitality

Buktrips utilizes Filecoin’s decentralized storage by partnerting with NFT.Storage. This brings to life the first of it’s kind real-world use-case setting new paradigms for inventory management in the hospitality industry. Take a deep dive into the case study:

Industry

Travel and hospitality

Use-case

Buktrips.com introduces the first ever real-world utility in travel and hospitality by tokenizing hotel room bookings with true ownership, immutability and tradability. Filecoin’s decentralized storage supports the storage of NFT metadata for Buktrip travel bookings.

Overview

Buktrips.com is a blockchain-based hotel booking platform that offers users a secure and transparent way to book hotels worldwide. By utilizing blockchain technology, the platform ensures that users have full control over their bookings, and hotel owners can manage their properties more efficiently.

Buktrips introduces the first of its kind real-world use-case in hotel room tokenization by converting room bookings into digital NFT tokens that can be traded on blockchain-based marketplaces. By doing so, Buktrips partner hotels and enterprise service partners will be able to offer their customers a new way to invest in their business, while travelers will be able to take advantage of new investment opportunities.

Tradability opens a new resell secondary markets on NFT marketplaces including OpenSea, Rarible for hotel bookings offering travel flexibility with benefits of NFT sale royalties.

As a blockchain-based platform, Buktrips maintains a strong focus on data security and user privacy. To address the challenges of storing large amounts of NFT metadata in a secure and decentralized manner, Buktrips.com partnered with NFT.Storage for its Filecoin storage offering. Filecoin is a decentralized storage network that allows users to store and retrieve data in a secure and cost-effective manner.

Challenges:

Buktrips data consists mainly of NFTs that can be minted for hotel room bookings and traded on NFT marketplaces. Additionally, inventory management and crypto-fiat on-off ramps are part of the data management requirements.

Since most of these are tradable on the open market, the network needs a storage system that ensures user’s ownership is protected across various platforms, and blockchains. To achieve this Buktrips needs to:

• Provide interoperability across blockchain networks.
• Rely on a large amount of available real-time storage space.
• Guarantee inventory orderbook with quick access on blockchain explorers and available to all.
• Ensure protection of user data from bad elements and hacks, malwares.

Solution: Filecoin & Nft.Storage

NFT.Storage is an enterprise blockchain storage provider that helps businesses find the right technology solutions for their products. NFT.Storage is continually adding more capacity to the Filecoin network and bringing in new organizations that are in need of the benefits that decentralized storage provides.

By working with NFT.Storage, the Buktrips team was able to deploy its platform’s metadata storage needs using Filecoin’s decentralized storage. These include NFT mints, drops, exclusive collections, and traded token assets. Altogether, NFT.Storage enterprise grade blockchain solution provided Buktrips and the hospitality industry with unique real-world utility.

Conclusion

The partnership between Buktrips.com and NFT.Storage for Filecoin’s decentralized storage serves as an example of how blockchain technology can provide real-world solutions to industry-specific challenges, and it is poised to drive innovation and growth in the travel and hospitality industry for years to come.

About Buktrips

Buktrips is a decentralized, open chain globally accessible platform built on buk.technology, making the conventional hotel inventory distribution and booking experience more flexible and decentralized to benefit all stakeholders — travellers, hotel owners and even middlemen who trade these inventory.

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