LockTrip is a blockchain-based project that targets the travel industry. It was founded in 2017 and hopes to resolve the issues impacting supply management, availability synchronization, price discovery, and guest check-in. This includes removing unnecessary booking fees on the side of the guests, as well as, removing commissions associated with listing accommodation on booking sites incurred by hosts. Essentially, LockTrip functions as a travel and accommodation marketplace that aims to reduce fees on both sides of the booking process: accommodation hosts and guests. Users can browse by country and find a place to stay from any available listings on the site.
The platform’s native cryptocurrency is LOC. It is an ERC20 token and has a total supply of 18,585,933. LOC functions as a utility token and is needed in order to access LockTrip’s services.
What are LockTrip’s key features and how does it work?
The platform features a search and booking function for hotels and homestays. It allows users to book accommodation at reduced rates thanks to decentralized technology. The platform has a growing network of hotels and properties which can be booked at competitive prices. The platform claims to offer an average of 20% lower prices than alternative booking sites and methods, with certain options saving as much as 60%. This is achieved by removing any middle man or other third-party, such as booking sites or travel agencies, and thus any associated commissions or extra fees.
In addition, all transactions are executed decentrally via the blockchain. Transactions on the platform can be done via credit card, or other traditional payment methods, however, LOC is the preferred payment method of choice.
What is noteworthy about LockTrip?
LockTrip has developed a unique NFT use-case for its platform: Travel NFT Matrix. The technology has been designed to simplify processes when booking and staying in accommodation. NFTs can be created by hotel providers representing one room-night, that is, one night in one particular room. Users can then purchase these, trade them, or exchange them before being redeemed for a check-in.
Where can you buy LOC?
LOC is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are KuCoin and HitBTC. The price of LOC will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for LOC market prices, please view the price charts on this page.
