Global platform LynKey, which powers luxury resort and vacation property with blockchain and AI technology, on Tuesday announced a project for tokenising and offering NFT solutions of over $8 billion dollars for travel and tourism using smart contracts.
LynKey will digitise luxury resorts and properties at multiple destinations, offering them over its blockchain-powered token marketplace and ecosystem, seeking to tokenise all aspects of property development — purchases, leases, land use, and related tourism entertainment — in an international blockchain-powered ecosystem to connect the people around the world with the best of property technology and premium experiences from resorts and cruises with NFTs.
“Using NFTs with AI data-driven protocol sets, the company is revolutionising the travel destination and entertainment space with smart tourism. LynKey connects the global audience with a blockchain-powered platform and a token that empowers an ecosystem with time-sharing, and reward solutions at premium luxury tourist spots”, said Dinis Guarda, founder and non-executive Chairman of LynKey.
Guarda, who is also the creator of platforms ‘citiesabc.com’, and ‘openbusinesscouncil.org’ has been collaborating with universities including Oxford, added, “By bringing the power of blockchain and NFT technology to the tourism and property industry, and even going forward by creating a related metaverse, we bring comprehensive digital solutions to see the travel and property world in a secure, innovative, rewarding, and trustworthy space”.
Cindy Tran, Co-Founder, and Chairwoman of LynKey said despite globalisation, challenges in the tourism and travel industry persist and that blockchain and NFT technology can address and resolve these issues. “Most global travelers or property buyers have to deal with local currencies, lack of transparency in buying or leasing property and timeshares, and losing money to high exchange fees or worse. Furthermore, travelers cannot personalise their travel experiences, modify, sell, or cancel their ‘trips’. Planning to travel or searching to lease property may be digital, but the rest of the process certainly is far from seamless or perfect with conventional models of tourism and travel. A consolidated marketplace and token solution will solve many of these issues,” she said.
With global tourism forecast to reach a $1.3 trillion mark by the end of 2021, LynKey seeks to target issues like non-transparency, unreliability plaguing the travel industry. Currently, the non-digital format of the current property leasing, licensing, and time-sharing is time-consuming and easily flawed. Additionally, there are often liquidity issues with respect to the global property market, which sometimes leads to price gouging and high costs.
