Article Source: Weilin
Author: Weilin, PANews
In this bull market, the prediction market has ignited the enthusiasm of C-end users, while meme coins have boosted the growth of the crypto market. As the total market capitalization of stablecoins reaches a historic high, the mass adoption of Web3 has entered a new development stage. What is the next potential opportunity in the C-end consumer sector with the integration of real life and blockchain technology?
The Web3 travel platform Umy brings new possibilities to the consumer goods sector. Designed for Web3 users, Umy uses blockchain technology to address issues in the traditional travel industry, such as high costs and weak privacy protection. It not only helps the industry increase basic traffic and promote growth but also accelerates the application of crypto payments in daily life. As a platform promoting the development of PayFi (payment finance) and RWA (real-world assets) sectors, Umy is committed to providing Web3 users with more diverse travel and consumer experiences.
Bridging crypto payments with the off-chain world.
Mass adoption and entry into the mainstream have always been the direction of effort for the crypto market, with RWA and PayFi becoming important entry points.
Bringing real-world assets onto the chain in the RWA sector is a hot topic in this cycle. As of December 4th, according to rwa.xyz data, the total scale of RWA sector assets (excluding stablecoins) has reached $13.21 billion. Projects like Ondo Finance, which brings US Treasury bonds onto the chain, and Propy, which brings real estate on-chain, have performed well in the market this year.
The PayFi concept was only proposed last July. According to SoSoValue data, as of December 4th, the top four projects in RWA by market capitalization have all exceeded $1 billion, representing a new way of constructing financial markets, creating financial primitives and product experiences around the time value of money to achieve more efficient, low-cost transactions applicable to Web3 trading, off-chain consumption scenarios, retail environments, creator monetization, accounts receivable, payment processing, private credit pools, and other scenarios. Representative projects in the PayFi field include Ripple, the long-established payment settlement public chain that recently led the secondary market, COTI, a payment solution for the B-end, and multi-signature wallet provider Safe.
Both the RWA and PayFi sectors are flourishing independently. With the improvement of infrastructure and the increase of on-chain users, these two sectors can organically combine. Umy, as a Web3 travel and consumption platform, is exploring this. Umy focuses on crypto payments, enhancing the time value of money (TVM) in PayFi, and supporting cross-border payments. Its product matrix is expected to lead a wave of Web3 consumer applications.
Four core products: Reshaping travel and consumption experience.
Umy has launched four core products focusing on accommodation, transportation, e-commerce, and innovative consumer products: Umy Beds, Umy Flights, Umy Shop, and Umy X.
First, Umy Beds is a decentralized global hotel booking platform that connects hotels with consumers, reducing intermediary fees, increasing transparency, and helping the industry increase basic traffic. For example, there are currently platforms in the market that support paying for hotel costs with USDT. However, the prices on these platforms are usually much higher than those of traditional online travel agencies like Ctrip, Qunar, or Fliggy. In contrast, the hotel prices offered by Umy's platform in collaboration with HashKey are basically on par with the over-the-counter (OTC) price of USDT, and in some cases even more favorable than OTC prices. This price advantage makes Umy a better choice for users wishing to pay for hotel costs with USDT.
Another product, Umy Flights, supports cryptocurrency payments for flights, breaking down traditional payment barriers and simplifying global payment processes, further expanding market potential.
In addition, Umy Shop is a diversified Web3 e-commerce platform that provides travelers with convenience and discounts for online shopping.
Umy X is an innovative Web3 consumer product that supports the tokenization of real-world asset (RWA) trading, enhancing travelers' overall lifestyle, fully integrating digital assets with consumer goods, and promoting industry growth, with the potential to drive growth in the RWA sector.
From the perspective of traditional travel pain points, traditional platforms can no longer meet the needs of Web3 users, with high privacy risks, personal data easily leaking and being abused, and high costs that come with hidden fees for cross-border payments. Additionally, traditional platforms currently face barriers to crypto payments, as most platforms cannot seamlessly support cryptocurrency payments.
By adopting Web3 technology, Umy aims to promote privacy-first principles, ensuring data security through blockchain technology. Its cryptocurrency payments eliminate exchange rate conversion fees, enabling fast transactions. Its innovative travel experience focuses on meeting the needs of Web3 users.
Multiple new features launched, partnering with HashKey to create new scenarios for Web3 business travel.
The Umy team completed two iterations of the homepage in just four months and has basically perfected the hotel booking function. Meanwhile, the flight booking feature is also about to go live, providing users with more comprehensive travel services.
Currently, Umy has partnered with ImToken, HashKey, and the TON ecosystem, and will support more ecological assets in the future, continuously expanding the platform's compatibility and user choice.
On November 22nd, Umy announced a partnership with HashKey HSK to jointly promote new scenarios for Web3 business travel and consumption. The two parties will work together to advance Web3 consumer experiences and the implementation of PayFi, providing users with a more convenient and innovative payment experience. They plan to conduct in-depth cooperation in Web3 consumer experiences in the future. Through resource sharing and technological complementarity, Umy will offer Hashkey users customized business travel services and convenient payment experiences in PayFi scenarios.
In the future development roadmap, Umy has planned four phases:
Phase 1: Global hotel and flight booking to address the most fundamental pain points in the travel industry.
Phase 2: Blockchain conference support to enhance information exchange efficiency within the industry, helping attract more traffic.
Phase 3: Personalized travel and shopping services to enhance user experience and drive long-term user growth on the platform.
Phase 4: Integration of e-commerce and product payments to streamline the global consumption payment chain, promoting seamless connections between the platform and the consumer goods sector.
Overall, Umy is an e-commerce platform that supports crypto payments, dedicated to providing crypto natives with a one-stop digital lifestyle experience. Before large e-commerce platforms fully integrate crypto payment tools, Umy has a valuable market window. As the number of crypto native users expands and the meme wave attracts more Gen Z into Web3, Umy has great potential to compete with traditional giants in Web2.
