The rapid advancement of blockchain technologies unlocks new opportunities in all areas of modern life with each new day. The best proof of this is GuestChain, an innovative and cutting-edge project that offers the market an advanced solution for tokenization of hotel rooms, lodging facilities and private apartments. It is set to revolutionize the market with the help of NFT technology.

Many people still see NFTs as fancy pictures – but in fact, the potential of this technology stretches far beyond that. With this in mind, the creators of GuestChain tried to maximize the project’s utility to the greatest number of users. Let’s see if their offer is really wothwhile?

GuestChain proposes a business model of interaction between tourists and hoteliers that excludes intermediaries. The edge of this project lies in converting the number of accommodation facilities into tokens. To put it straight, a daily stay in a room of certain type will correspond to one NFT. By purchasing tokens, tourists get the opportunity to pay for their reserved accommodation in selected hotel, which in turn helps hoteliers to predict the cash flow and take charge of it before providing service to the client.

New business model

GuestChain will enable the direct communication flow between travellers and tourism businesses. After all, each middleman increases the complexity of the transaction, increasing its cost and often affecting the final result negatively.

Users will be able to blend traditional booking options with the GuestChain offer. This will allow you to easily select the best hotel options, the highest quality of service, as well as the lowest prices. If necessary, customers will be able to get a refund for previous reservations. The NFTs they have at their disposal can be sold on the secondary market (GuestChain’s own marketplace), perhaps even at a profit. In addition, users will be able to become members of the staking program and receive a stable passive income.

On the side of the hospitality industry, GuestChain offers the opportunity to sell rooms to end users for an extended time span, having received payment in advance. This allows businesses to significantly increase their working capital and financial capacity to invest in customer service improvement and room inventory expansion.

Realization of ideas

First of all, the hotelier will have to upload information about their property. This will give him the opportunity to issue NFTs, giving the right to a daily stay in a certain room. A potential client, having chosen a suitable hotel and room, purchases one or more corresponding tokens, and the payment is immediately deposited in the hotelier’s account.

Having NFT tokens at his disposal, the client can book an available date at the hotel. As soon as this happens, the information will be reflected in the personal account of the manager.

As you can see, the system of relationships between travelers and representatives of the tourism industry is becoming as transparent as possible, which eliminates common risks. In addition, over time, GuestChain will open access to new features that will delight the community with unique features.

At the moment, the GuestChain platform is at the final stage of development, but already now you can learn a lot about the project by joining its social networks and visiting https://guestchain.world. The authors of the project in spring 2023 claim the platform will be launched and the first hotels will issue their NFT tokens on it. The first will be hotels from Georgia, then the project will be developed in the UAE, Turkey, Indonesia, Mexico and other countries.