Borderless Capital sponsored a $10 million seed investment for TravelX, focusing on employing blockchain technology for distribution in the travel sector.
The fresh funds will be used to develop a blockchain-based distribution methodology, released later this year. The protocol pricing enables various airlines and travel providers to tokenize inventory, allowing for new distribution models and use cases to emerge.
Algorand, Draper Cygnus, Myelin Capital, and Monday Capital are other investors.
TravelX CEO Juan Pablo Lafosse expressed his delight at the prospect of developing a blockchain-based solution that “would assist suppliers and intermediaries improve efficiency and profitability while also improving the traveler experience.”
“Friction and inefficiency continue to be pervasive in travel distribution, and the challenges related to the pandemic have increased the imperative for change.”
TravelX is a firm that promotes travel and Web3 while also integrating travel with Decentralized Finance. It was founded in 2021. (DeFi).
Customers may also update, cancel, transfer, and sell tokenized merchandise more quickly and easily, resulting in a win-win situation for travelers and suppliers.