Exploring opportunities in the next consumer arena, Web3 platform Umy will create diversified travel and consumption experiences

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Author: Weilin, PANews

In this bull market, prediction markets have ignited the enthusiasm of C-end users, and meme coins have boosted the growth of the crypto market. As the total market value of stablecoins reaches a record high, the large-scale adoption of Web3 has also entered a new stage of development. In the combination of real life and blockchain technology, what are the next potential opportunities for C-end consumers?

Web3 travel platform Umy brings new possibilities to the consumer goods track. Umy, designed specifically for Web3 users, uses blockchain technology to solve the problems of high costs and weak privacy protection in the traditional travel industry. It not only helps the industry increase basic traffic and promote industrial growth, but also accelerates the application of encrypted payments in daily life. As a platform that promotes the development of PayFi (payment finance) and RWA (real world assets) tracks, Umy is committed to providing Web3 users with a more diversified travel and consumption experience.

Connecting encrypted payments with the off-chain world

Large-scale application and entry into the mainstream have always been the efforts of the encryption market, and the two tracks of RWA and PayFi have become important entry points.

RWA, which introduces real-world assets to the chain, is a popular track in this cycle. As of December 4, according to data from rwa.xyz, the total scale of RWA track assets (excluding stablecoins) reached US$13.21 billion. Ondo Finance, which introduced U.S. debt to the chain, and Propy, which put real estate on the chain, have both achieved good market performance this year.

The concept of PayFi was not proposed until July last year. Data from SoSoValue shows that as of December 4, the top four RWA projects by market value have all exceeded US$1 billion, representing a new way of building financial markets, created around the Time Value of Money. Financial primitives and product experience enable more efficient and low-cost transactions, suitable for Web3 transactions, off-chain consumption scenarios, retail environments, creator monetization, accounts receivable, payment processing, private credit pools and other scenarios. Currently, representatives in the field of PayFi include Ripple, the payment and settlement public chain of an established project that has recently led the rise in the secondary market, COTI, a B-side payment solution, and Safe, a multi-signature wallet provider.

The RWA and PayFi tracks are flourishing. With the improvement of infrastructure and the increase of users on the chain, the two tracks can be organically combined. Umy, as a Web3 travel and consumption platform, is exploring this. By focusing on encrypted payments, Umy improves the time value of money (TVM) in PayFi and supports cross-border payments. With its product matrix, it is expected to bring about a trend of Web3 consumer applications.

Four core products: Reshaping travel and consumption experience

Focusing on housing, transportation, e - commerce, and innovative consumer products, Umy has launched four core products, Umy Beds , Umy Flights , Umy Shop and Umy X.

First of all, Umy Beds is a decentralized global hotel booking platform that connects hotels and consumers, reduces intermediary fees, improves transparency, and helps the industry increase basic traffic. For example, there are currently some platforms on the market that support paying hotel fees with USDT. However, prices on these platforms are often much higher than those offered by traditional online travel agencies such as Ctrip, Qunar, or Fliggy. In contrast, the Umy platform cooperates with HashKey to provide hotel room rates that are basically the same as USDT's over-the-counter (OTC) prices, and in some cases are even more favorable than OTC prices. This price advantage makes Umy a better choice for users to use USDT to pay for hotels.

Another product, Umy Flights , supports cryptocurrency payment for air tickets, breaking traditional payment barriers, simplifying global payment processes, and further expanding market potential.

In addition, Umy Shop is a diversified Web3 e-commerce platform that provides travelers with the convenience and discounts of online shopping.

Umy X is an innovative Web3 consumer product that supports tokenized transactions of real world assets (RWA), improves the overall lifestyle of travelers, comprehensively integrates digital assets and consumer goods, promotes industrial growth in the industry, and is expected to promote the growth of the RWA track.

Judging from the pain points of traditional travel, traditional platforms can no longer meet the needs of Web3 users. Privacy risks are high, personal data is easily leaked and abused, costs are high, and hidden fees for cross-border payments are a headache. In addition, traditional platforms currently have barriers to crypto payments, and most platforms cannot seamlessly support cryptocurrency payments.

By adopting Web3 technology, Umy aims to promote privacy first and use blockchain technology to ensure data security. Its cryptocurrency payments feature no exchange rate conversion fees and fast transactions. Its innovative travel experience focuses on meeting the needs of Web3 users.

A number of new functions are launched, and HashKey is used to open a new

scenario for Web3 business travel.

The Umy team completed two iterations of the homepage in just four months and basically improved the hotel booking function. At the same time, the air ticket booking function will also be launched soon to provide users with more comprehensive travel services.

At present, Umy has reached cooperation with ImToken, HashKey and TON ecology. In the future, it will support more ecological assets and continue to expand the compatibility of the platform and user choice space.

On November 22, Umy announced its cooperation with HashKey HSK to jointly promote new scenarios of Web3 business travel and consumption. The two parties will work together to promote the implementation of Web3 consumption experience and PayFi, bringing users a more convenient and innovative payment experience. And plans to conduct in-depth cooperation on Web3 consumer experience in the future. Through resource sharing and technology complementation, Umy will bring customized business travel services and a convenient payment experience in PayFi scenarios to Hashkey users.

On the future development roadmap, Umy’s planning has four stages:

• Stage 1: Global hotel and air ticket booking, solving the most basic pain points in the travel industry.
• Phase 2: Blockchain conference support improves the efficiency of information exchange within the industry and helps the industry attract more traffic.
• Stage 3: Personalized travel and shopping services to enhance user experience and promote long-term user growth of the platform.
• Stage 4: Integrate e-commerce and commodity payment, open up the global consumer payment chain, and promote the seamless connection between the platform and the consumer goods track.

In general, Umy is an e-commerce platform that supports crypto payments and is committed to providing a one-stop digital life experience for crypto natives. Before large e-commerce platforms have fully integrated crypto payment tools, Umy has a valuable market window. As the scale of crypto-native users expands and the meme wave attracts more and more Gen Z to Web3, Umy has great potential to compete with the traditional giants of Web2.