Travel industry professionals are planning investment in web3 as a marketing tool, according to research from the TravelTech Show (TTS) that reveals 74% see the potential for web3 in marketing campaigns, while the remainder are undecided.
Breaking the 74% down further reveals that 36% are specifically interested in artificial intelligence and how it can be used to sell travel, 14% are interested in the metaverse for the same reason and 2% are interested in NFTs.
Respondents were also asked what technology they would invest in if given a magic wand and time and resources were available, with AI coming out on top followed by booking applications and automation.
Facebook owner Meta will discuss its social media applications as well as virtual reality in the context of travel during a session at TTS June 29 and 30.
Ryan Taylor, event manager at Northstar Travel Group, says: “There’s been a lot of chat about web3 and how it’s going to change the way brands reach consumers, especially with the potential for AI and machine learning to provide hyper-personalized content and for the metaverse to reach a younger, more digitally savvy audience.”
Subscribe to our newsletter below
Meanwhile, TTS has also revealed the five finalists for its Trailblazers startup competition that recognizes companies no older than four years with up to £2 million in funding.
The initial judging process reduced 16 entrants to five companies, which are:
Cruisewatch - a startup from Hannover, Germany, which wants to shake up the selling process for travel agents using AI. Its data-driven technology simplifies the consulting process, finds intelligent solutions and digitizes the sales process.
Cluecation - a U.K.-based company specializing in the gamification of self-guided travel. The startup creates experiences that help travelers explore destinations in an immersive way, connecting travelers with the cultures, people and places they visit.
Octopus Travel Matrix - helps tour operators to grow without increasing headcount, overheads or stress. The company’s automation tools help operators drive efficiency as well as helps them upsell services to customers.
Travel Ledger - is an electronic invoice and remittance system enabling easy and secure payments between travel buyers and suppliers. The company wants to replace the current billing, reconciliation and settlement process to make it fast and inexpensive to transact non-air travel services.
TripMatrix - is a cloud-based all-in-one travel agency software for selling and managing travel products and services. Travel agencies, tour operators and destination management companies use TripMatrix to manage their day-to-day business.
TTS is taking place alongside The Business Travel Show Europe from June 29 to 30 at ExCeL London.