Planning and organizing a vacation today can be a time-consuming and overwhelming process for many people. With a vast majority of options in online travel agencies (OTA), aggregator platforms and companies, the choices are endless. On the other hand, the rapidly growing travel industry presents multiple barriers to entry for new investors. Younger generations or individuals with lower capital are showing a growing interest in investing in the travel industry but face various roadblocks. This is why we are building Arakis – a revolutionary application for the travel industry designed to meet the needs of both travelers and investors.
Revamping Investment Models Using Web3
The Arakis Ecosystem houses many innovative advancements for the travel tech industry, all of which will be detailed in future blogs, but let’s start by exploring the core mechanism of the Arakis Investor App, the Revenue Sharing Token (RST).
We are changing the way investors approach the travel industry. Our RSTs provide a first-of-its-kind model using Web3 technology to offer a new and innovative method of investing in and earning from this booming market. In simple terms, RSTs act as Non-Fungible Tokens, or NFTs, of hotels, airlines and other chains in the Arakis Ecosystem. These RSTs will be limited in number and will be available for purchase to investors. Platform users will be able to view the data of and purchase the RST of any hotel, airline or experience that they find valuable. Once a user purchases the RST of a specific experience, the token will be exclusive to the investor and held in a completely decentralized wallet, ensuring transparency and full ownership.
A Quick Look at RST Technology
As the name suggests, the owner of an RST can earn passive income just by holding the token in their wallets. This mechanism allows investors of all sizes in the traditional and Web3 space, to expand their portfolios and plug into the travel industry. To explain this process, we have an easy-to-understand example below!
Let’s assume that you, as an investor, have purchased the RST of a Hilton Hotel in Dubai. This same Hilton Hotel will be listed on the Arakis Travel App (more information on the travel app will be out soon!) for users to book rooms in, just like a traditional booking platform. Assuming a user books a room at the Hilton Hotel for $100, Arakis will use the industry standard commission rate of keeping 10% of the value and providing 90% back to the Hilton Hotel. In this case, the Arakis platform will generate a revenue of $10 from the booking. After this, through the use of the RST and smart contract technology, 1% (in this case, $1) will be automatically paid to the RST holder of the Hilton Hotel. This process is middle-man free, using smart contract technology to ensure there can be no mismanagement of this process, ensuring the RST holder always receives what they are owed.
And It’s That Simple!
Our aim is to provide a seamless experience for travelers and investors. With our RST technology, we are creating a simple way for individuals to enter the travel industry and benefit from this rapidly growing market. With the increasing number of people travelling for leisure and business purposes, the demand for travel-related services is increasing exponentially, and we believe all users should have the freedom and ability to participate in it. The RST side of Arakis is only a fraction of what we are developing for our platform, and we’re excited to outline more aspects of the ecosystem in future blogs.
With safety, reliability and ease of use as our priority, our goal is to completely revolutionize the travel tech industry with Arakis. We have identified the issues plaguing users and created what the market needs, and we hope to have you join us on this journey. Get ready for the adventure of a lifetime with Arakis!