Travala’s Bitcoin rewards program sets sights on elite travelers amidst rising BTC frenzy.

Travala.com, a travel agency that supports cryptocurrencies, is introducing a cashback program specifically for Bitcoin (BTC). The program aims to attract high-tier travelers by offering the scarcity of BTC as a desirable reward mechanism. The AVA Foundation’s blockchain platform operates the loyalty reward program, and users who have reached the Smart Diamond tier can participate in the new scheme. CEO Juan Otero emphasized Bitcoin’s recognition as the leading cryptocurrency and its finite supply as the driving factors behind the cashback program. Otero believes that offering Bitcoin rewards for travel bookings will further promote the use of cryptocurrency for everyday payments. The rewards are credited to members’ accounts within 24 hours of completing a trip and can be used for other travel products on the platform or withdrawn to an external wallet, exchange, or platform. Bitcoin is currently one of the top three payment methods on Travala.com, accounting for about 9% of travel bookings. In 2023, travelers spent over $5 million in BTC on flights, hotels, and activities. To participate in the BTC cashback program, users must own a Travel Tiger NFT and stake 2,500 AVA tokens to activate Smart Diamond membership. However, the program is exclusive to a limited number of travelers, as only 1,000 Travel Tiger NFTs exist. These NFTs are randomly generated utility collectibles minted on the Ethereum blockchain. The floor price of Travel Tiger NFTs on OpenSea is currently 2.6 Ether (ETH), equivalent to around $9,800. Travala.com believes that cryptocurrency-based cashback programs have the potential to disrupt traditional Web2-based programs. The company claims that using Bitcoin can reduce fees associated with traditional payment methods and mitigate chargeback fraud risks. The CEO also sees Bitcoin rewards as a way to introduce new users to the Web3 ecosystem through its BTC and AVA rewards programs. The AVA Foundation’s blockchain-based rewards platform utilizes the AVA token to distribute cashback and loyalty rewards, payment discounts, and gated access benefits.