The Year So Far — Learnings & Future Product Direction
With more than half of 2022 already behind us, we wanted to take a moment to reflect on what we’ve accomplished so far and what’s ahead.
Since the new year, we’ve been laying the foundations for a completely new short-term and vacation rental model, one that combines the freedom of direct stays with the simplicity of online travel agencies (OTAs) to create a unique web3 travel ecosystem.
From the beginning, we knew we were venturing into largely uncharted territory. Travel bookings on the blockchain powered by smart contracts are an industry first, and something for which there’s no precedent or guidebook.
Within just six months, we’re proud to have developed a community of passionate hosts, early adopters, and a working beta product that has successfully processed the world’s first smart contract-powered travel booking.
Here’s the breakdown of how we got there!
Timeline
January
In January, core team members from around the world convened in person to discuss the direction of Dtravel over a three-day strategy event. These meetings refined our goals and documented our ambitions, from which emerged the blueprint for Dtravel v2.
February
In February, we shared our?host research?from the previous months and announced our updated product direction in the form of Dtravel v2 and what it meant for?hosts?and?guests.
March
In March, we launched our?Beta Program?and welcomed our first batch of hosts who collaborated with us and provided invaluable feedback on ideas, design, and the user experience. These hosts continue to play a crucial role in the success of Dtravel as we build and experiment with new concepts.
April
In April, we detailed our?key insights?from the first month of the Beta Program and?announced?our first property management system (PMS) partnership in?Hostaway. As one of the leading PMS options available on the market, with around 2,000 property managers and over 40,000 properties, onboarding to Dtravel via Hostaway is a simple, time-efficient process.
May
In May, it was all hands on deck to deliver a Q2 launch of Dtravel v2. We also started the process of integrating with our second PMS partner,?Uplisting, which is now live as an option alongside Hostaway.
June
In mid-June, we?released Dtravel v2, enabling hosts to register their properties for on-chain bookings. Our partnership with short-term rental community-building and education platform?Rent Responsibly?was also?announced, with Dtravel named alongside other partners — such as Expedia Group — to promote a sustainable future for the short-term rental industry.
July
In July, we processed the?world’s first-ever on-chain hospitality booking, powered by a smart contract through Dtravel v2 — a momentous occasion for the team and both the travel and blockchain industry. Not to be overshadowed, we also released the Merchant Page update that compiles each host’s properties in one place, making it easier for guests to explore and book properties listed by each host.
Challenges & Learnings
During our Beta Program, we encountered some challenges and came away with learnings that will be critical to our next stages of product development in preparation for scaling Dtravel.
Using a PMS
One of the main friction points currently is the requirement for hosts and property managers to use a PMS in order to list their properties on Dtravel. We recognize that this isn’t immediately suitable for all hosts, and we’re working on enabling properties to be listed directly on Dtravel without a PMS.
Not all hosts are familiar with the?benefits of a PMS, which may create a hesitancy to pay the subscription fee. However, this initial PMS-only route was taken for a few reasons.
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The Accessibility Gap
A challenge many startups using new technology face is making the experience accessible. There’s a large learning gap between web2 and web3, and most hosts will require time and education to reach a comfortable level of proficiency.
In light of this, we’re designing a more familiar onboarding experience for both hosts and guests that makes use of traditional log in options like email. This experience will include revised user flows that decrease the barrier to entry from a technical perspective (e.g. removing the requirement to connect a non-custodial wallet), as well as an in-platform host onboarding flow that walks through the registration and listing process step by step.
The goal of this is to ultimately expand the user base by creating an ecosystem for all levels of proficiency, with features that allow Dtravel to be used as a predominantly web2.5 or web3 platform. By providing guidance, educational materials, and support, hosts and guests will be empowered to progress their way up from web2 → web2.5 → web3.
We believe this direct booking model has the potential to liberate hosts from the increasingly strict policies of online travel agencies and short-term rental platforms. On the other side of the equation, guests will be able to receive better prices and have more meaningful interactions with hosts. Think of what we’re building as a decentralized Shopify (but for short-term rentals), where hosts truly own their own direct booking business, set their own rules, terms, and policies.
Discovering Dtravel Properties
Guests can currently view and book properties by visiting each host’s unique Merchant Page. Like traditional direct booking sites, these are direct links that require marketing efforts from each host. Here are a few Merchant Pages of some of our early hosts:
View Amir's Listings?- London Host
View Tom's Listings?- UK Host
View Seven's Listings?- Kansas City Host
View Parker's Listings?- Atlanta Host
View Blake's Listings?- Utah Host
View The Stay Hub's Listings?- New Zealand Host
View Thi's Listings?- Vancouver, CA Host
View Matthew's Listings?- Florida & Virgin Island Host
However, the overarching goal of Dtravel is to build a web3 travel ecosystem, a key part of which involves interconnecting listings in a metasearch engine that allows guests to easily discover properties around the world (i.e. the Shopify directory style of aggregating merchants we mentioned above).
The metasearch engine will differ from web2 OTA search engines in that the data is received from individually owned direct booking sites rather than originating from the website itself. This doesn’t make Dtravel an intermediary, as the booking is facilitated between the host and guest directly via smart contract. Rather, the metasearch engine will consolidate property listings and redirect travelers to each listing — similar to Tripadvisor or Skyscanner.
Where We’re Heading
Dtravel v2 is just over a month old now, and we’ve only scratched the surface of what we want to achieve. We now have the foundations, we’re aiming high, and we’re determined to build a better short-term rental ecosystem, block by block.
Over the next 6 months, our focus is on the following:
We’re ready to kick it up a notch for the second half of 2022, with so much exciting work being done behind the scenes that we can’t wait to share with you all.
To be the first to know about all the latest Dtravel developments, join our community channels below!
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This article first appeared on the Dtravel blog, read the full post?here.