Hospitality market grows up at a rate of 6-7% per year and achieved $557 bln in 2017. By 2030 the market shall exceed $1 000 bln.
Online Travel Agencies – OTAs are highly centralized online booking platforms representing a classic case of oligopoly market. The market force they have enables them to withdraw commissions from both hoteliers and travelers. An uncontrolled growth of the commissions has resulted in 20-30% or $120 bln received by OTA annually. That is unproductive costs lost by hoteliers they could benefit from and invest in development.
The only value of the OTAs is a large aggregated database of hotels and apartments. But commissions they take in the line with binding agreement on price parity make them undesirable partner for hoteliers.
Develop and implement the largest Decentralized Autonomous Organization (DAO) on online booking in the world based on BlockChain technology with no commissions – NOMAD.Space.
Since pier-to-pier connection (P2P) is in the heart of all BlockChain platforms, NOMAD.Space streamlines traveler-hotelier relations and increases hotel chain profit as hoteliers can manage and develop their value chains on their own now.
NOMAD.Space uses familiar user-friendly interfaces and software compatible with the existing one so there is no need for travelers and hoteliers to change habits.
NOMAD.Space will be owned and managed by hoteliers and currently developed on EOS / Plazma / Side Chain technologies. The hoteliers will choose the most efficient one.
- Test the technical concept and business model on at least three blockchain platforms;
- Development and release of the platform alpha-version based on interface and payment system familiar to users.
- Development and start of the platform installation on hotelier computers;
- Acquisition of or partnership with a hotel PMS developers and meta-search engines to offer and make Nomad.Space available to a number of hotels and ensure significant client traffic from very beginning;
- Exponential expansion of the platform all worldwide through extensive marketing and call center;
- Full decentralization and self-management.
- Management company – incorporated in Estonia or another blockchain friendly jurisdiction;
- Operating company – incorporated I n the United States.
Three core areas of expertise required for successful development of the platform are presented by:
- IT-architecture and development – 7 key professionals;
- Travel managers and advisors from the hospitality industry – 4 professionals;
- Funding, business development and management - 2 American and Russian venture funds and professionals with a portfolio of transactions of over $5 bln and 45 years of experience.
Two companies will be incorporated to comply with legal requirements:
To implement the project and ensure target deployment (scale) of the NOMAD.Space platform funds of $120 mln will be raised (see allocation of investments on the left). Raise and use of investments is broken into stages. The control of investors over the funds will be ensured by means of DAO or another appropriate means.
Seed investors receive a discount of 2,2 of the ICO round. The amount of funds for the Seed round is $5 mln.
Economic model, interest of investors and participants
The entire economy of the project is based on the growing rate of the internal platform cryptocurrency tokens – NSP. In turn the token rate depends on the number of transactions conducted through the platform - the more transactions, the higher the rate. In such a way the very development of the platform ensures a constant growth of the token rate and makes it possible to eliminate any commissions at all.
Such the economic model ensures return of investments to the investors and also sustains the long-term motivation of the project participants and founders.
Today the NOMAD.space founders have gathered a team of professionals to develop both technical concept and business model and ensure consistent implementation of the project,
Minimum Viable Product (MVP) of the NOMAD.space platform is under development and will be released soon. On the business side the team executes marketing activities and develops relations with partners.
We invite all interested parties to the discussion. Should you are interested in the project we are happy to discuss our plans for further development and implementation of our platform.