Author: Weilin
Author: Weilin, PANews
In this bull market, the prediction market has ignited enthusiasm among C-end users, and meme coins have boosted the growth of the crypto market. With the total market cap of stablecoins reaching a historical high, the large-scale adoption of Web3 has entered a new development stage. What is the next potential opportunity in the consumer-facing sector in the integration of real life and blockchain technology?
The Web3 travel platform Umy brings new possibilities to the consumer goods sector. Designed specifically for Web3 users, Umy uses blockchain technology to address issues such as high costs and weak privacy protection in the traditional travel industry. It not only helps the industry enhance base traffic and drive real growth but also accelerates the application of crypto payments in daily life. As a platform promoting PayFi (Payment Finance) and RWA (Real World Assets) development, Umy is committed to providing Web3 users with more diverse travel and consumption experiences.
Connecting crypto payments with the off-chain world
Large-scale application 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 blockchain's RWA is a hot sector in this cycle. As of December 4, according to rwa.xyz data, the total scale of RWA assets (excluding stablecoins) has reached $13.21 billion. Ondo Finance, which brings US Treasury bonds onto the blockchain, and Propy, which brings real estate on-chain, have both achieved good market performance this year.
The concept of PayFi was only proposed last July. According to SoSoValue data, as of December 4, the top four projects in RWA market cap have all exceeded $1 billion, representing a new way to build financial markets, creating financial primitives and product experiences around the time value of money to achieve more efficient and lower-cost transactions, applicable to Web3 transactions, off-chain consumption scenarios, retail environments, creator monetization, accounts receivable, payment processing, private credit pools, and other scenarios. Currently, representatives in the PayFi field include Ripple, a well-established payment settlement public chain that has recently led the secondary market, COTI, a payment solution aimed at B-end users, and multi-signature wallet provider Safe.
The RWA and PayFi sectors each flourish, and as infrastructure improves and the number of on-chain users increases, the two sectors can organically combine. Umy, as a Web3 travel and consumption platform, is exploring such integration. Umy focuses on crypto payments, enhancing the time value of money (TVM) in PayFi, and supporting cross-border payments. With its product matrix, it is expected to create a wave of Web3 consumption applications.
Four core products: Reshaping travel and consumption experiences
Umy has launched four core products around accommodation, travel, e-commerce, and innovative consumer products: UmyBeds, UmyFlights, UmyShop, and UmyX.
Firstly, UmyBeds is a decentralized global hotel booking platform that connects hotels with consumers, reduces intermediary fees, enhances transparency, and helps the industry increase base traffic. For instance, some platforms currently support hotel payments in USDT. However, the prices on these platforms are often much higher than those of traditional online travel agencies like Ctrip, Qunar, or Fliggy. In contrast, the hotel prices offered by Umy in collaboration with HashKey are generally on par with the over-the-counter (OTC) price of USDT, and in some cases, even more favorable than OTC prices. This pricing advantage makes Umy a better choice for users looking to pay for hotel accommodations with USDT.
Another product, UmyFlights, supports cryptocurrency payments for flight tickets, breaking down traditional payment barriers and simplifying global payment processes, further expanding market potential.
In addition, UmyShop is a diversified Web3 e-commerce platform that provides travelers with convenience and discounts for online shopping.
UmyX is an innovative Web3 consumer product that supports the tokenization of Real World Assets (RWA), enhancing the overall lifestyle of travelers, fully integrating digital assets with consumer goods, driving real industry growth, and potentially promoting the growth of 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 leaked and abused, exorbitant fees, and hidden costs of cross-border payments being a headache. Moreover, traditional platforms currently face obstacles to crypto payments, as most platforms cannot seamlessly support cryptocurrency payments.
By adopting Web3 technology, Umy aims to prioritize privacy and ensure data security through blockchain technology. Its cryptocurrency payments eliminate currency conversion fees and facilitate quick transactions. Its innovative travel experience focuses on meeting the needs of Web3 users.
Multiple new features launched, partnering with HashKey to open new Web3 business travel scenarios
The Umy team completed two iterations of the homepage in just four months and has basically perfected the hotel booking function. At the same time, the flight booking feature will soon be launched to provide users with a more comprehensive travel service.
Currently, Umy has partnered with ImToken, HashKey, and the TON ecosystem, and will continue to support more ecosystem assets in the future, continuously expanding the platform's compatibility and user choice.
On November 22, Umy announced a partnership with HashKey HSK to jointly promote new Web3 business travel and consumption scenarios. The two parties will work together to advance Web3 consumer experiences and PayFi implementation, providing users with more convenient and innovative payment experiences. They also plan to collaborate deeply in the future on Web3 consumer experiences. Through resource sharing and technological complementarity, Umy will bring customized business travel services and convenient payment experiences in PayFi scenarios to HashKey users.
The development roadmap for Umy has four phases:
Phase 1: Global hotel and flight reservations to address the most fundamental pain points in the travel industry.
Phase 2: Supporting blockchain conferences to enhance information exchange efficiency within the industry and help attract more traffic.
Phase 3: Personalized travel and shopping services to enhance user experience and drive long-term user growth for the platform.
Phase 4: Integrating e-commerce and product payment, bridging the global consumer payment chain, facilitating 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. With the expansion of the user base of crypto natives and the meme wave attracting more Gen Z into Web3, Umy has great potential to compete with traditional giants in Web2.
