[PRESS RELEASE – Hong Kong, China, December 16th, 2024]
Dtravel, a decentralized platform leveraging blockchain technology to transform vacation rentals, has announced strategic backing from Modular Capital and Escape Velocity Crypto (EV3). These partnerships signify significant milestones in Dtravel’s journey to develop a global peer-to-peer vacation rental ecosystem.
Strategic Partnerships Driving Growth
The recent funding from Modular Capital aims to reinforce Dtravel’s position as an innovative leader in decentralized travel. Vincent Jow, Managing Partner at Modular Capital, highlighted the platform’s transformative potential:
“Dtravel is revolutionizing the vacation rental industry in the same way Shopify transformed ecommerce—by empowering smaller operators to bypass middlemen and connect directly with their customers. With 9,000 hosts across 110 countries generating $1M in annualized GMV, Dtravel is achieving rapid growth, with 4.5x year-over-year booking growth and 3.5x growth in listings.”
Escape Velocity Crypto (EV3), a prominent backer of Decentralized Physical Infrastructure Networks (DePIN), also joins Dtravel as a strategic investor.
Sal Gala, Founder at EV3, emphasized the industry’s shift toward decentralized solutions: “The vacation rental industry is approaching $100 billion in global annual sales, with younger generations increasingly opting for unique experiences over material items. Platforms like Airbnb treat hosts as suppliers, whereas open, blockchain-based protocols like Dtravel position hosts as owners and integral participants in the ecosystem.”
Empowering Decentralized Travel
Dtravel operates as a DePIN, eliminating centralized control and excessive fees through its blockchain-powered ecosystem. By tokenizing bookings into Real World Assets (RWAs) on the Base blockchain via the Nite Protocol, the platform provides a transparent and permissionless data marketplace accessible to any business.
Cynthia Huang, CEO of Dtravel, expressed optimism about the strategic backing: “The support from Modular Capital and EV3 validates our mission to create a more transparent, efficient, and community-driven travel ecosystem. These partnerships will supercharge our efforts to expand the global marketplace of blockchain-powered vacation rentals and enhance the guest and host experience.”
About the Investors
Modular Capital
Founded in 2022, Modular Capital supports early-stage ventures and liquid tokens using a thesis-driven approach. The firm collaborates with portfolio companies by offering strategic introductions, advising on go-to-market strategies, designing tokenomics, and more.
Escape Velocity Crypto (EV3)
Also established in 2022, EV3 supports DePIN projects and builds public goods for decentralized ecosystems. Backed by leading investors including CMT Digital, Castle Island Ventures, and Ribbit Capital, EV3 fosters innovation through strategic investments and partnerships.
About Dtravel
Dtravel leverages blockchain technology to create a decentralized alternative to traditional vacation rental platforms, offering direct connections between vacation rental operators and travelers. The platform’s unique token model drives growth and rewards users, while its open-source Nite Protocol ensures data transparency and innovation.
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