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Crypto-friendly travel agency Travala is launching a Bitcoin cashback program as a desirable reward mechanism for high-level travelers. A shared announcement summarizes Travala’s new reward program available to users who unlock the Smart Diamond tier of the loyalty reward program operated by the AVA Foundation’s blockchain platform.
Travala Team Makes Noteworthy Move
Travala CEO Juan Otero emphasized that Bitcoin‘s position as the most recognized cryptocurrency, along with its limited supply and status as a scarce crypto asset, are driving forces behind the new cashback program. Otero stated the following:
“Bitcoin is here to stay and has become more attractive to mainstream audiences, especially after the recent approval of the first spot Bitcoin exchange-traded fund.”
Otero added that offering Bitcoin cashback rewards for travel bookings enhances the appeal of using cryptocurrency for everyday payments. Travala also confirmed that rewards are deposited into the member’s account within 24 hours after a trip is completed. Members have full authority over how to use their Bitcoin rewards, whether for payment on other travel products on the platform or withdrawal to an external wallet, exchange, or platform.
Bitcoin is one of the top three payment methods used on Travala, and Bitcoin payments account for approximately 9% of travel bookings made on the platform. Travelers spent over 5 million dollars in Bitcoin on the platform for flights, hotels, and events in 2023. However, it should be noted that users must own a Travel Tiger NFT and deposit 2,500 AVA tokens to activate their Smart Diamond membership, adding an element of exclusivity to Travala’s Bitcoin cashback plan.
Travala and Blockchain Initiatives
Considering that only 1,000 Travel Tiger NFTs are available, a limited number of travelers may be eligible for the reward program. The NFTs consist of randomly generated utility collections within the Ethereum blockchain ecosystem. Market data from OpenSea shows that the floor price for a Travel Tiger is 2.6 Ethereum, valued at approximately $9,800 at the time of publication.
Travala is also drawing attention to crypto-based cashback programs as potential alternatives to traditional Web2-based programs. The company claims that the use of Bitcoin can help reduce fees associated with traditional payment rails for cashback providers and decrease the risk of chargeback fraud.
Travala’s CEO believes that Bitcoin rewards can attract new users to the Web3 ecosystem through Bitcoin and AVA reward programs. The AVA Foundation uses its native AVA token to distribute cashback and loyalty rewards, payment discounts, and gated access benefits on its blockchain-based reward platform.
