Pinktada Raises US$1.3M in Oversubscribed Round To Integrate NFTs, Smart Contracts With Hotels

Pinktada, an early-stage travel tech startup launched this year, has announced a successful $1,340,000 raise to support its rapid expansion.

The platform aims to enable travelers to swap or trade non-refundable hotel bookings on the Pinktada marketplace, using immersive 3D technology. An additional function they could introduce includes tokenizing room reservations, allowing hoteliers to earn recurring revenues each time a sale occurs.

https://twitter.com/PinktadaTravel/status/1582759778631438336

The round includes investors such as Hong-Kong based Mandra Capital, Venture Capital Fund Selenean Capital, and TGV4+, which has invested $2 million to date.

Also Read: Pinktada Is Using Blockchain Tech To Re-Imagine The Hospitality Business

Moving Towards a Web3.0 Future

While the bear market would presumably be a detriment to the adoption of blockchain technology, data from Pinktada shows otherwise.

In fact, as a result of the increased supply of hotels on Pinktada, membership has grown 40x since March 2022, and continues to grow exponentially month-on-month.

"We are always looking out for innovative user cases in Web3 and using their technology in new
industries. Pinktada is our first foray into a new vertical -- travel and hospitality, which holds a
promising user case, within Web3.''

Zhang Song Yi, Co-founder and Chairman of Mandra Capital

The signs of blockchain adoption has not been slowing down, with Web2.0 industry leaders entering the fray.

Disney and Starbucks are just some examples, and should the UI/UX in the space become more seamless, we may just see the day where the blockchain is integrated in more areas of society.

Also Read: “One Of The Big Winners Of The Market Correction”: TGV4 Plus Invests $17.2M In Animoca Brands

[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]

Featured Image Credit: thedharmatrails