BUK aims to enable the trading and reselling of hotel room bookings by consumers and other participants in the travel industry
BUK has raised the pre-seed funding from Polygon Studios
Funds will be used for product development and launch of the Minimum Viable Product for the public by March 2023
Buk technology, an NFT-based hotel inventory distribution infrastructure and the secondary marketplace have raised $ 100K in pre-seed funding from Sandeep Nailwal, Co-Founder, Polygon. Buk is a tokenization platform for the hospitality sector that enables open trading and resale of hotel room reservations. aimed at cryptocurrency users and digital nomads, while resolving concerns with hotel distribution and entirely doing away with pricing parity.
Funds will be used for product development and to create a Minimum Viable Product (MVP) by the end of the current financial year. Travelers may find and reserve the rooms of their choice with BUK without having to worry about losing their money on cancellation if their plans change because they can still swap their NFTs and rooms.
Hoteliers will be able to develop, store, administer, and market their services to customers as NFTs thanks to BUK. BUK will also guarantee that the inventory and booking status is accurate from a single source. Reduce the duration of contracts, the time required for reconciliation, and problems associated with price parity.
Bengaluru, Nov 29, 2022
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