Technology
How is hospitality utilising NFTs?
The hospitality industry has not been immune to the global increase in interest in non-fungible s). But while everyone seems to be talking about NFTs, few understand the buzz behind the buzzword. Hotel Management International presents two blog posts from HFTP explaining how the industry has been utilising this novel technological concept.
The hospitality industry has not been immune to the global increase in interest in non-fungible tokens (NFTtokens (NFTs). But while everyone seems to be talking about NFTs, few understand the buzz behind the buzzword. Hotel Management International presents two blog posts from HFTP explaining how the industry has been utilising this novel technological concept.
W
idely acknowledged as a buzzword circulating in the hospitality industry in 2022, the intriguing and often elusive
new technological concept of NFTs has left many to wonder: Are they real? Are they worth it? Are they here to stay? Finally, and perhaps most importantly, many are wondering what exactly are NFTs? As part of HFTP’s core purpose to lead and advance the hospitality profession by providing a forum for continuous learning and knowledge sharing, the association enlists research conducted by industry experts, research scholars and graduate students in higher education hospitality programmes to explore the latest hot topics and emerging technologies. And, lately, NFTs have been on their minds.
Uses of NFTs in the hospitality industry Shubham Khemka, graduate student in the master of science in global hospitality business
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programme, a partnership between EHL, the Hong Kong Polytechnic University and the University of Houston. Imagine you had an online avatar – a ‘mini-me’ version of you, an identity card that includes your face (albeit in animated form) and a unique code. Instead of presenting your real ID card every time, you attach it once to this avatar and do not have to carry it every time you need to check-in to a hotel or flight. Now take it a step further: imagine your loyalty points are attached to this identity – not just for your hotel but for your flights, favourite restaurants and retail outlets – saving you the hassle of noting down multiple passwords and usernames. Since we are now so deep into our imagination, what if the top traveller, shopper or diner was rewarded periodically, beyond just the loyalty credits earned? If there are keywords that we have heard more in the past couple of years other than Covid-19, they are ‘NFTs’ and ‘cryptocurrency’.
Hotel Management International /
www.hmi-online.com
Mininyx Doodle; Klara Viskova; Vectorpocket/
Shutterstock.com
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