What is Travala (AVA)? Your ultimate guide

Travala is bringing crypto to the travel industry. How exactly does it work?

Graphic of the Travala logo                                 
Travala claims that it is at least 40% cheaper compared to mainstream non-blockchain travel platforms – Photo: Shutterstock
                                

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Finance, healthcare, logistics – the blockchain movement seems to be disrupting every commercial sector. It’s no real surprise, therefore, that the travel sector should also feel the effect with Travala being the force in question.

Founded in 2017, Travala (AVA) enables individuals to choose from over three million travel products, including hotels, flights and tours, according to CoinMarketCap. It also claims to be much cheaper than non-blockchain booking platforms.

How does Travala work? Before we dive into the technology let’s look at the platform’s founders.

Founders of Travala

Travala was founded by Steve Hipwell, Matt Luczynski and Juan Otero and is based in Australia.

Hipwell is Travala’s chief operating officer, while Otero took over as CEO from Luczynski in the summer of 2021.

Otero, has more than 15 years’ experience of founding and leading start-ups. Before launching Travala, Otero founded restaurantes.com, an online restaurant reservation service in Europe. He also acted as an innovation adviser to the European Commission and EIT, the European Institute of Innovation and Technology.

Hipwell has over a decade of experience working in travel companies. Before becoming involved in Travala.com, he worked as marketing director for Viland Travel and Oasis Bay Cruises.

Luczynski studied international business studies at Leeds University Business School in the UK. After graduating in 2018, he was accepted onto the UK-China accelerated entrepreneurship programme. Since co-founding Travala.com, he has founded another company called HoDooi.com, an NFT marketplace.

What is Travala (AVA)?

According to its website, the platform offers more than 2.2 million properties covering over 90,000 destinations in 230 countries and territories. Travala claims that it is 40% cheaper than mainstream travel booking platforms.

It declares the mission of the Travala cryptocurrency is to “bring to the travel industry as a whole transparent pricing, innovation, authentic truth, enhanced security and efficient stakeholder interaction.”

Travala claims that by harnessing blockchain technology, transparency and accessibility worldwide can improve, thus bringing users a better deal. Customers can pay for services on the Travala (AVA) website with more than 80 different cryptocurrencies. They can also pay in normal fiat currency.

The company is backed by Binance and has already developed partnerships with big players in the travel industry, including Booking.com, Expedia and Agoda.

But what about AVA, the native token of Travala.com?

What is Travala coin used for?

Travala.com's AVA coin allows customers to gain access to the customer loyalty programme, and benefit from standard booking givebacks, best price guarantees and referral programmes.

AVA coin can also be used to make payments on the platform as well as act as a store of value. Customers can receive refunds in AVA.

There is a total supply of 61.4 million AVA coins and a current circulating supply of 51.8 million coins.

With each coin coming in currently at $1.51 as of 10 January 2021, the Travala cryptocurrency platform has a market cap of $74m.

When compared to the crypto sector as a whole, the coin has not performed particularly well.

This may, in part be due to the hit the travel sector as experienced because of uncertainties around Covid-19. With renewed concerns as a result of the Omicron variant, a return to tourism at pre-pandemic levels may not become a reality for quite some time. This in turn may affect investors' confidence in the offering from Travala.

Final thoughts

Some crypto sceptics argue that the crypto sector is a solution in search of a problem – that everything it proposes to do, is already being done more efficiently by centralised systems. While terms like "blockchain", "disruption" and "Web.3" are all exciting buzz words, the real utility from applying blockchain technology to the online travel booking industry remains to be seen.

There are currently 51.8 million AVA coins in circulation. There is a total supply of 61.4 million AVA coins. 

Travala was created by Steve Hipwell, Matt Luczynski and Juan Otero.

Travala is one of the largest blockchain-based online travel booking companies. With a highly accessible user-friendly website, Travela exemplifies how crypto can be accessible to mainstream users who may not know much about cryptocurrencies or blockchain technology.  

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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