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Title: Umy Web3 Platform: Shaping the Future of Travel and Consumption

Topic Tags: RWA, Payments

Difficulty: Beginner

Meta Description: In the integration of real life and blockchain technology, what is the next potential opportunity in the consumer sector for C-end users? As a platform driving the development of the PayFi and RWA sectors, Umy is committed to offering Web3 users more diversified travel and consumption experiences.

In the current bull market, the prediction market has ignited enthusiasm among C-end users, and meme coins have fueled the growth of the crypto market. With the total market cap of stablecoins reaching a historic high, the large-scale adoption of Web3 has entered a new phase of development. Amid the integration of real life and blockchain technology, what is the next potential opportunity in the consumer sector for C-end users?

Web3 travel platform Umy has brought new possibilities to the consumer goods sector. Designed specifically for Web3 users, Umy uses blockchain technology to address issues like high costs and weak privacy protection in the traditional travel industry. It not only helps the industry boost basic traffic and drives real-world growth but also accelerates the application of crypto payments in daily life. As a platform that is advancing the PayFi (Payment Finance) and RWA (Real World Assets) sectors, Umy is dedicated to providing Web3 users with a more diversified travel and consumption experience.

Breaking the Barrier Between Crypto Payments and the Offline World

The large-scale application and mainstream adoption of cryptocurrency have always been key objectives in the crypto market. The RWA (Real World Assets) and PayFi (Payment Finance) sectors have become important entry points in this effort.

RWA, which involves bringing real-world assets onto the blockchain, is a popular track in this market cycle. As of December 4, according to data from rwa.xyz, the total market size of the RWA sector (excluding stablecoins) reached $13.21 billion. Platforms like Ondo Finance, which brings U.S. Treasury bonds onto the blockchain, and Propy, which brings real estate onto the blockchain, have seen strong market performance this year.

The concept of PayFi was only proposed in July of last year. According to data from SoSoValue, as of December 4, the top four projects in the RWA market all surpassed a $1 billion market cap, representing a new approach to building financial markets. These projects focus on the time value of money (TVM) to create financial primitives and product experiences, enabling more efficient, low-cost transactions. They are applicable to Web3 transactions, offline consumption scenarios, retail environments, creator monetization, accounts receivable, payment processing, private credit pools, and more. Key players in the PayFi space include long-standing payment settlement blockchain Ripple, B2B payment solution provider COTI, and multi-signature wallet provider Safe, among others.

As both the RWA and PayFi sectors continue to grow and evolve, the improvement of infrastructure and the increase in on-chain users make it possible for these two sectors to merge organically. Umy, as a Web3 travel and consumption platform, is exploring this integration. By focusing on crypto payments, Umy enhances the time value of money (TVM) in PayFi and supports cross-border payments. With its product matrix, Umy is poised to lead a wave of Web3 consumption applications.

Four Core Products: Redefining Travel and Consumption Experiences

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

Firstly, Umy Beds is a decentralized global hotel booking platform that connects hotels with consumers, reduces intermediary fees, enhances transparency, and helps the industry increase its base traffic. For example, there are platforms in the market that support paying for hotel expenses with USDT. However, the prices on these platforms are typically much higher than those of traditional online travel agencies like Ctrip, Qunar, or Fliggy. In contrast, the Umy platform, in partnership with HashKey, offers hotel prices that are generally aligned with the OTC (over-the-counter) price of USDT, and in some cases, even more favorable than OTC prices. This price advantage makes Umy a better choice for users who want to pay for hotel expenses with USDT.

Another product, Umy Flights, supports cryptocurrency payments for airline tickets, breaking down 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 convenience and discounts for online shopping.

Umy X is an innovative Web3 consumer product that supports the tokenized trading of real-world assets (RWA), enhancing the overall lifestyle of travelers. It integrates digital assets and consumer goods comprehensively, promoting industry growth and has the potential to drive the growth of the RWA sector.

From the perspective of traditional travel pain points, existing platforms can no longer meet the needs of Web3 users. These platforms pose high privacy risks, with personal data vulnerable to leakage and misuse, high costs, and hidden cross-border payment fees that are frustrating. Furthermore, traditional platforms currently face barriers to cryptocurrency payments, with most of them unable to seamlessly support cryptocurrency transactions.

By adopting Web3 technology, Umy aims to prioritize privacy and ensure data security through blockchain technology. Its cryptocurrency payments eliminate exchange rate conversion fees and enable fast transactions. The platform’s 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

In just four months, the Umy team has completed two iterations of its homepage and has essentially perfected its hotel booking feature. Meanwhile, the flight booking feature is about to go live, providing users with a more comprehensive travel service.

Currently, Umy has partnered with ImToken, HashKey, and the TON ecosystem. In the future, the platform will support more ecosystem assets, continuously expanding its compatibility and offering users more choices.

On November 22, Umy announced a partnership with HashKey HSK to jointly promote new Web3 business travel and consumption scenarios. Both parties will work together to advance Web3 consumer experiences and PayFi implementations, bringing users more convenient and innovative payment experiences. Future in-depth collaboration is planned in the area of Web3 consumption experiences. Through resource sharing and technological synergies, Umy will offer HashKey users customized business travel services and convenient payment experiences within the PayFi ecosystem.

In terms of the future development roadmap, Umy has outlined four stages:

• Stage 1: Global hotel and flight bookings, addressing the most fundamental pain points in the travel industry.
• Stage 2: Blockchain conference support, improving information exchange efficiency within the industry and helping attract more traffic.
• Stage 3: Personalized travel and shopping services, enhancing user experience and driving long-term user growth for the platform.
• Stage 4: Integration of e-commerce and product payments, unifying the global consumption payment chain, and facilitating seamless connection between the platform and the consumer goods sector.

Overall, Umy is an e-commerce platform that supports cryptocurrency payments, dedicated to providing a one-stop digital living experience for crypto natives. With major e-commerce platforms yet to fully integrate crypto payment tools, Umy holds a valuable market window. As the user base of crypto natives expands and the meme wave attracts more Gen Z users to Web3, Umy possesses significant potential and is poised to compete with traditional Web2 giants.

Disclaimer:

1. This article is reprinted from[ PANews]. The copyright belongs to the original author [Weilin]. If there are any objections to the reprint, please contact the Gate Learn team, and they will handle it promptly.
2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute investment advice.
3. The Gate Learn team translated the article into other languages. Copying, distributing, or plagiarizing the translated articles is prohibited unless mentioned.