BukTrips : Trade-able tokenized Hotel room bookings
{"type": "project", "title": "BukTrips : Trade-able tokenized Hotel room bookings", "logoImg": "bafkreign3wafvo2uponb3ihsfy7gk7tdhfnr42nnqwah3jjt7zg2oebccq", "website": "https://buk.technology", "bannerImg": "bafkreietbwgokhczntpq2oz5hmlnc5bzzfni7nwmlkohdngsz3gdllwpne", "createdAt": 1683630619311, "userGithub": "arul-buk", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..QTa_FFpm4zPd3opZC40PGTWNBpHMLHGsyUqQaF1zyc7NiUXDNB4N0cnb1X-_ZmRt69AuYUMpONkEP-R7vNFoBA", "type": "Ed25519Signature2018", "created": "2023-05-09T10:41:27.132Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-05-09T10:41:27.132Z", "expirationDate": "2023-08-07T10:41:27.132Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x1C8b54AEBeE5d1CAA0d3bFe2DDED8Ea0b302a66b", "hash": "v0.0.0:pUBDdD8IZ5eC3O4FE61laNGqMEg3eZ/LC4oKOOHI1h4=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#buktrips"}}}, "description": "# Buk Technology - Powered by Expedia\n\nImagine buying Singapore hotel stays for F1 race dates/Token2049 Singapore, 6 months prior to the event and being able to speculate and resell those bookings as the event gets closer. You could actually trade these hotel bookings for those dates. \n\nBuk.Technology & BukTrips.com are tokenized marketplaces, powered by Expedia, for Hotel room bookings- Where people can buy and trade real world hotel room bookings. Users can pay via Crypto, get instant refund for cancellations and also be able to transfer/resell/trade hotel room bookings.\n\nWhen a traveler books a hotel room through BukTrips.com, they receive a unique NFT (non-fungible token) that represents their booking. This NFT can be traded on the secondary market, allowing travelers to resell their booking if they can no longer use it. This means that travelers have the option to either cancel their booking or resell it, giving them more flexibility and control over their travel plans.\n\nBuk technology will also build a marketplace and a developer ecosystem to build and innovate on the tokenized inventory model by providing open APIs and SDKs to developers. Some examples of applications that can be built are tokenized hotel room booking engine, trading engines, auction systems, verified reviews, blockchain-based loyalty systems.\n\n\n## Fundraising\nBuk has raised $150,000 from Polygon ventures & Hustle Fund VC (Singapore) in preseed rounds\n\n## Advisors\n\n 1. Sandeep Nailwal - CoFounder Polygon\n 2. Chinmai Sharma - https://www.linkedin.com/in/chinmai/\n\n## Relevant URLs\nShort video pitch: https://youtu.be/nu8orYoZiBo\nLong video pitch: https://youtu.be/uVuDFHe9nbw\nBooking Site: https://buktrips.com\nOfficial website: https://buk.technology\n\nValue proposition for Hotels: https://hotelsmag.com/podcasts/how-blockchain-technology-impacts-hotel-room-reservations-with-arul-prakash/\n\n\n\n\n## Founders & Team\n\nArul Prakash and Nikhil Kulkarni are the co-founders of Buk Technology. \n\nArul Prakash is the CEO and has experience in consumer businesses, travel technology, and blockchain solutioning. His LinkedIn profile is available at https://linkedin.com/in/arulprakash, and he can be reached at https://telegram.me/arulprak. With experience in Accenture, TATA group, Polytrade Finance and multiple other Fortune50 companies.\n\nNikhil Kulkarni is the CTO, a 2nd time founder. Erstwhile Co-founder CTO of Tripdarwin.com in the travel technology space. He has experience in building scalable and secure systems. His LinkedIn profile is available at https://linkedin.com/in/nkulkarni. \n\n**8 team members** - 3 development, 2 product, 2 Marketing, 1 Design.\n\n\n## BukTrips.com - LIVE &  OPERATIONAL\n\nBukTrips.com is the first product that utilizes the tokenized inventory model built by Buk technology. BukTrips.com was launched on 14 March 2023. Expedia is the supply provider for Buk Technology and provides 700,000 properties globally. On launch, it accepts USDC as payment and will be integrating bank transfers, credit card, and debit cards as payment modes in the near future. The value proposition for a traveler or customer or guest or consumer is resalable hotel room bookings, on-chain refunds, and easy payments via cryptocurrencies. Cancellation rules, currently applied on other booking engines or by the hotels, will continue to be available. The resalability of the hotel room becomes an additional option for the user rather than just cancellation.\n\n## Competitors\n\nCurrent competitors include Travala.com (clocking $6mn monthly), Pinktada, GoHoken, and Takyon. Buk differentiates itself from the competitors with its GTM and the strong Founder profile with a background in enterprise, consumer businesses, travel technology, and Blockchain solutioning. Buk is taking a B2B2C approach building momentum in the consumer side before entering enterprise solutions.\n\n## Revenue Model\n\nBuk's revenue model consists of 2 main streams - \n\n - 5% booking commission on the primary booking\n - 3% commission on secondary market trading\n \n A 1% commission is also given back to the hotel whose inventory is being traded.\n\n## Partnerships\nBuk has already a signed partnership with **Expedia** and soon to sign with Priceline as well to access global inventory. In addition multiple partnerships across multiple NFT community projects, 50+ properties across the globe and tech service providers in the travel space. ", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "BUK-protocol", "projectTwitter": "buktrips"}