Web3 has disrupted the traditional hospitality and tourism industry by revolutionising experiences, upgrading legacy systems, and rebuilding fragmented loyalty programs. As we begin to understand that there is more to non-fungible tokens (NFTS) than just PFPs (profile pictures), the vast utilities behind these tokens grant us privileges in the real world.
Enter Genesis, an NFT-enabled membership program by DayAway, a Singapore-based destination online booking platform for luxury hotels and experiences. Notable partners of the brand include Rosewood in Hong Kong, and Singapore’s iconic Raffles; DayAway recently expanded into Australia and the UAE.
Martha Waslen, CEO and Founder of DayAway, chats with Tatler on their NFT debut and how their digital platform is bringing change to the hospitality scene.
A New Era of Experiences and Loyalty
Waslen's previous background was in the luxury beauty and fashion sector, so she took her expertise in building luxury brands and turned it to the travel industry, offering curated daycations and city retreats with DayAway. The so-called experience economy—where consumers seek unique and memorable experiences over possessions—is rich in potential: the sector is expected to reach US$12 billion by 2023. “The experience economy is all about finding opportunities for connection—with yourself, with others, with communities, with cultures. To me, all experiences, whether it be around food, travel, art, music, sports, romance, wellness, history, are about the quest to feel something deeper, and more meaningful in life,” says Waslen.
DayAway has just unveiled its first blockchain-powered membership in the form of an NFT. The Founder’s Key grants access to a wide range of luxury experiences and events by the world’s most iconic brands. Unlike a standard paid subscription membership model with an annual fee, the membership model is tokenised—it grants lifetime access and is tradable. Implementing membership on the blockchain helps authenticate ownership, verified by connecting the user’s crypto wallet, and is now used as an exclusive pass to the most elite social clubs. Some of the perks include savings off overnight stays at the Raffles Hotel Singapore, the Mandala Group’s villa and chalets, and Codigo Tequila along with a growing list of partners.