Key Takeaways
- Mass blockchain adoption is still hindered by the fact that many people find the technology too complicated to understand.
- In addition, the industry can be deemed as risky and volatile by many, especially after the collapse of FTX last week. Lingo is backed by real estate assets that cushion the risk element often linked with web3 startups.
- With Lingo, real estate yields a community-driven compounding model that fuels the vacation rewards program.
- Vacation rewards are airdropped every month to Lingo users.
Web3 startup Lingo is shaking up the travel industry by rewarding its community with vacations. It leverages blockchain technology and real estate assets to send people on vacation. The startup has already gained substantial celebrity interest (over 100 brand ambassadors) and has raised some capital to develop further.
Mass blockchain adoption is still hindered by the fact that many people find the technology too complicated to understand and risky, and that it lacks utility in the real world.
While there historically was great upside potential for those who were willing to take on the risk of investing in web3 projects and tokens, the reality is that most people are not yet ready to tolerate extreme volatility and risk in that space.
Lingo addresses the risk element by backing its model with real estate, and uses blockchain technology to compound the assets over time. While this unique model can be a great mechanism to tamper volatility and risk, its main objective is to provide a real utility to people in real life: vacation rewards.
Existing loyalty programs often require users to accumulate a substantial amount of points or miles before they can redeem free stays. As a result, it can take years for people to save up enough points to enjoy a free vacation.
Lingo flips the script by distributing its real estate yields to its holders in the form of vacation rewards. This approach has several advantages. First, it is easy to understand. Second, it is safer, as real estate collateral cushions the downside risk without pegging the token to its value, which still allows exposure to the upside potential. And finally, in comparison with existing loyalty programs, Lingo’s vacation rewards utility can send people on vacation within a month, without spending years accumulating hotel loyalty points.
Lingo’s vacation rewards program is unrivaled in the industry. With 100 percent of real estate net yields fueling the incentivization mechanism instead of the tiny fractions offered by traditional rewards programs, Lingo’s vacation value proposition is incomparable.
Hassam Moussa Rawat, CEO of Lingo Coin, said:
“Imagine an ever-growing portfolio of real estate – properties around the world that are generating cash flow for one purpose only – sending people on vacation.”
Lingo has managed to sign partnerships with over 100 celebrities and web3 experts combining over 300 million followers. This is possibly one of the greatest teams of brand ambassadors assembled in the industry.
“Lingo is a paradigm-changing attempt to fundamentally redefine the way people afford vacations,” added Rawat.
Read Also: Travala.com, Expedia Revolutionizing Travel Industry with Blockchain and Cryptocurrency
