NoMo SoHo is the latest to claim an NFT first with its launch of a token with hotel stays attached.
The property, and its owner Sapir Corp, believe it's the first hotel in the United States to enable guests to book stays via blockchain technology.
The initiative uses SolidBlock’s platform and technology to offer guests NFTs, or non-fungible tokens, with three to six-night stays.
Anyone purchasing an NFT and booking the packages will be able to access exclusive preferred rates and additional perks.
Alex Sapir, chairman of Sapir Corp, says: “Our NFT offerings will provide NoMo SoHo a competitive edge and, more importantly, flexibility for each of our discerning guests. As demand for the use of digital assets and digital currency increases across the globe, we are once again proud to serve as industry leaders. Through our partnership with SolidBlock, we are modernizing our practices to accommodate tech-savvy audiences while laying the groundwork for the future of real estate.”
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Yael Tamar, co-founder and CEO of SolidBlock, says: “The NFT market will grow and shift to utility solutions. SolidBlock is reframing how we use NFTs by creating practical use cases using NFT technology to bring unique value to the hospitality sector and its guests. NFTstays helps hotels leverage Web3 blockchain technology to give their guests additional options and flexibility. This program will give the NoMo SoHo an edge that will increase revenue and hotel occupancy rates.”
CitizenM announced its plan to purchase virtual land and build a hotel in the Sandbox metaverse last month.
The company says it also wants to use the proceeds of NFTs to fund the construction of a real-life hotel in the future.
Meanwhile, Singapore-based Millennium Hotels and Resorts recently opened its first hotel, M Social Decentraland, in the metaverse.
Metaverse users can explore the hotel in the virtual land. Kwek Leng Beng, executive chairman of Millennium & Copthorne Hotels, says the company wants to create “online adventures that integrate with real-life events.”
The hotel developments are part of a series of emerging NFT-driven use cases for the travel industry.
Lufthansa Innovation Hub highlighted loyalty, travel communities and NFT passports as the three areas projects are predominantly falling under, in a recent study.
More recently, mobility marketplace Iomob added journey planning to the list through its partnership with Next Earth and Spanish airline Vueling.
Boyd Cohen, Iomob's CEO, has also flagged a number of other potential use cases for NFTs.