Worldwide: Peer-to-peer vacation rental ecosystem Dtravel has gained the backing of investment management firm Borderless Capital in the form of a token investment into its native ecosystem token TRVL.
According to Dtravel, the partnership will not only bring investment [which is currently undisclosed], but will open up a wealth of expertise and networking opportunities to support the company in becoming a leading provider for the vacation rental industry.
Launched in 2021, Dtravel has grown significantly over the last three years, empowering thousands of vacation rental operators with the infrastructure to accept bookings without intermediaries. Instead of opting for a traditional marketplace model, Dtravel provides vacation rental operators with a direct booking product suite, the ability to create a smart contract powered direct booking website, accept crypto payments, and distribute listings through Dtravel’s direct distribution network.
The company is set to launch a second application that will allow travellers to easily discover and book ecosystem listings directly with owners and operators. In exchange for contributing value to Dtravel, both vacation rental operators and travellers will earn TRVL [the native ecosystem token].
The funding from Borderless Capital will pave the way for the next phase of growth, where Dtravel anticipates that “hundreds of thousands” of operators, travellers and TRVL token holders will engage with its ecosystem. Borderless Capital has already begun advising on Dtravel’s tokenomics with a vision to ensure long-term sustainability of the ecosystem while leveraging TRVL to power significant network growth with a flywheel effect.
Having supported the success of protocols and ecosystems such as Helium, Wormhole, Algorand, Solana, Filecoin, Hivemapper, Polygon, Dimo and more, Borderless Capital sees its commitment to Dtravel as a new frontier for the adoption of DePIN [Decentralised Physical Infrastructure Networks].
Cynthia Huang, CEO of Dtravel, said: “Working with a strategic and experienced partner like Borderless Capital is an important step for Dtravel as we transition to our next phase of growth. Their DePIN portfolio, expertise, particularly in token economics, and network in web3, will unlock a huge level of growth for Dtravel.”
Álvaro Gracia, partner, Borderless Capital, said: “Dtravel is bringing a transformational approach to the vacation rental industry and web3. We see a lot of potential in the DePIN service networks and believe that the travel market is ripe for disruption with projects such as Dtravel leading the way.
“We believe Dtravel will be a driver of web3 adoption and it’s something we’re excited to support and help grow,” he added.
Last month, Dtravel announced that it was bringing real-world services on-chain to Polygon PoS by tokenising vacation rental bookings with its latest v3 smart contract upgrade. The innovation to Dtravel Direct, Dtravel’s direct booking product suite for vacation rental operators, is designed to bring increased flexibility to the booking process and enable travellers to securely sell or transfer their reservation through a peer-to-peer marketplace, in the event that a booking can no longer be fulfilled.