LIFE is a platform that offers hotel bookings and travel experiences that can be digitized and converted into NFT. Developed by Eduardo Ibañez and David Shuler, its launch date is scheduled for December 4, 2022 in the United States. Interview with David Shuler, co-founder and CEO of LIFE.
What is the concept of LIFE? How is it preparing to revolutionize the hotel market?
LIFE is an online booking platform that offers hotel reservations and digitized experiences converted into NFT, negotiable and collectible. Powered by AI to serve a large number of trips available through online agencies, LIFE will launch discounted prices on millions of hotels and experiences around the world. Our platform is the first to make hotel reservations available for trading on secondary markets, just as baseball tickets or Broadway shows already are. By creating liquidity in bookings, hotels and travelers will benefit from greater flexibility and an improved travel experience. The platform is easy to use and no special crypto or blockchain knowledge is required.
Why did you create the LIFE platform? How does it work for the hotelier and traveler?
The travel and entertainment markets are mature enough to be disrupted by new blockchain-based technologies. The booking solution allows tickets and bookings to be marked and exchanged securely. Hotels welcome this solution as it helps them manage their revenue streams and solves the problem of high cancellation rates by creating bookings that can be bought on secondary markets instead of being canceled when travelers’ plans change. Booking a hotel on the platform works almost exactly like other traditional booking sites, with low prices on millions of hotels and unique experiences. The user sees his reservation in his account with the same information as any other reservation, with the difference that the latter is in the form of an NFT with a unique identifier. Up to 24 hours before registration, this NFT can be transferred or traded on our secondary market or others such as Open Sea. At this time, the hotel receives the data from the owner’s wallet containing the NFT and confirms the registration.
Are NFTs and Cryptos the Future of the Industry?
Adding flexibility and efficiency to the hotel booking market benefits everyone in the industry. The advantage of the LIFE platform is that it is a much more efficient and flexible system than the current system. Reservation systems used in the tourism sector and their implementation require very little change for hotels or travelers. Those who embrace NFTs and crypto can take advantage of its features, such as making crypto payments, doing business on the secondary market, or eventually creating and listing their own properties.
Do you think we are entering a new era of hospitality?
Many travelers today don’t just want reservations, they want experiences. Blockchain and Web 3.0 are creating a new communication channel between buyers and sellers of hospitality services. They allow bilateral markets to function even across international borders. For example, it will be possible to offer an NFT that includes two nights in a luxury hotel, tickets to a major match with VIP access and a reservation at a restaurant where it is sometimes impossible to get a reservation through a traditional channel. Envisioning making this NFT widely available to travelers worldwide in multiple markets and tradable at any time if your plans pan out will be a game changer and that is what we will deliver at LIFE.
Opening photo: @ArthurMazi