Travala.com introduces Bitcoin cashback rewards for top-tier travelers, leveraging BTC's scarcity and mainstream acceptance. Rewards credited within 24 hours and can be used for travel products or withdrawn to external wallets. Exclusive scheme requires ownership of Travel Tiger NFT and staking AVA tokens.
Travala.com, a travel agency embracing cryptocurrencies, is launching a Bitcoin (BTC) cashback initiative, citing the appeal of BTC's scarcity as an incentive for its top-tier travelers.
In an announcement shared exclusively with Cointelegraph, Travala unveils its latest reward program, accessible to users who have achieved the Smart Diamond tier within the loyalty reward program administered by the AVA Foundation’s blockchain platform.
CEO Juan Otero of Travala.com emphasizes Bitcoin's status as the most prominent cryptocurrency, along with its finite supply and position as a rare digital asset, as key factors behind the introduction of the new cashback initiative. Otero states:
“Bitcoin's enduring presence is solidified, increasingly appealing to mainstream audiences, especially with the recent approval of the first spot Bitcoin exchange-traded fund.”
Otero further explains that offering Bitcoin cashback incentives for travel bookings expands the adoption of cryptocurrency for everyday transactions. Travala confirms that rewards are deposited into a member's account within 24 hours of completing a trip.
Members retain full discretion over the utilization of their Bitcoin rewards. They can either use them for other travel-related purchases on the platform or transfer their BTC to an external wallet, exchange, or platform.
It's worth noting that Bitcoin stands among the top three payment methods used on Travala.com. Bitcoin payments constitute roughly 9% of travel bookings made on the platform. In 2023, travelers spent over $5 million in BTC on flights, hotels, and activities.
However, Travala's BTC cashback initiative carries an element of exclusivity, as users are required to possess a Travel Tiger NFT and stake 2,500 AVA tokens to activate Smart Diamond membership.
Given that only 1,000 Travel Tiger NFTs are in existence, a limited number of travelers will qualify for the rewards program. These NFTs are randomly generated utility collectibles minted on the Ethereum blockchain. According to market data from OpenSea, the floor price of Travel Tigers stands at 2.6 Ether (ETH), approximately valued at $9,800 at the time of publication.
Travala also champions cryptocurrency-based cashback programs as potentially disruptive to conventional Web2-based programs. The company argues that employing Bitcoin could aid cashback providers in reducing fees associated with traditional payment systems and mitigating risks related to chargeback fraud.
The CEO of Travala anticipates that Bitcoin rewards could introduce new participants to the Web3 ecosystem through its BTC and AVA rewards programs. The AVA Foundation operates a blockchain-based rewards platform that utilizes its native AVA token to distribute cashback and loyalty rewards, offer payment discounts, and provide gated access benefits.