In 2014, the tourism industry employed almost 277 million people and is now expected to surpass 350 million by 2025. Many avid travelers choose to stay longer at a destination because of the cultural activities available. Cultural tourism is a fundamental piece of the international travel “puzzle”. While websites like TripAdvisor and Lonely Planet base their business model on providing extensive information about landmarks, historical sites, galleries and museums, there’s still definitely room for improvement.

Disclosure: This is a Sponsored Article

Many destinations have become famous for the cultural elements they provide. There are many problems with the industry: faulty ticketing systems, lack of transparency when booking tickets, lack of resources and inflexible funding options.

Cultural Places is a new platform based on Blockchain with one core mission: to open up a gate and provide streamlined, transparent access to all aspects pertaining to the cultural journey of the user. By developing an all-in-one platform where ticketing, crowdfunding, and trip planning happen in one place, cultural tourism could potentially disrupt the tourism industry.

Ticketing based on Blockchain

Developed by Oroundo – a successful Austrian startup – the new Blockchain-based project will leverage its own utility token, Cultural Coin, to ensure transparent transactions on the platform.

Event organizations, venues, and other cultural institutions are incapable of preventing ticket fraud, agency fees often surpass thirty percent and customers deal with poor customer support. It is clear the cultural world is being harmed by intermediaries.

Cultural Places will make use of its own utility token – Cultural Coin – to ensure the processes of buying tickets and making reservations are done transparently. As far as institutions are concerned, the platform can be their source to gather targeted data. This will help them profile users and target their content to the users’ needs and wants.

Crowdfunding and token holder rewards program

For several years, the cultural sector has been dealing with budget restrictions and complex funding options. Many promising museums and art galleries don’t have the means to raise public funds. Moreover, the process is often hindered by industry players with ulterior motives.

Cultural projects should be entitled to raise funds because they bring value and increase the touristic value of a destination. Cultural Places is looking to tackle these inefficiencies by inviting institutions to set up transparent crypto-funding campaigns. The platform invites donors – both companies and individuals – to send crypto and invest in projects they truly believe in. Organization can leverage the Cultural Places APIs to build new offerings and get payments in Cultural Coin tokens.

A holistic Blockchain-based social network with triple benefits

Purchases made on the Cultural Places platform are bound to a fee that starts at 6%. There will be a 3% share for the platform upon every completed purchase. The 3% left will be split among platform participants.

For every Cultural Coin spent on Cultural Places, users get 1% back into their Cultural Coin wallet as part of the loyalty program. The opportunity program is targeted at all Cultural Coin holders, who will also get 1% back for every expenditure made. Last but not least, there’s the institution royalty program pot. Targeted at all participating institutions, the program targets partnering organizations that receive a 1% share based on participation, turnover rate, and novelty they bring into the ecosystem.

The Cultural Places ICO is based on five ascending price levels. The ICO’s 1st phase is live. All participants can get a 40% bonus if they contribute until March 11. Following this, the price per token will increase to 0.021 EUR until March 18, and 0.024 EUR until March 23, and 0.030 EUR until April 5 (5th phase of the public token sale).

You may be interested

Blockchain 3.0
shares18 views

What Is Genaro Network?

Brian Evans - Mar 20, 2018

Global interest in blockchain technology continues to ramp up as we speak. Companies all over the world want to experiment with distributed ledgers in many different ways.…

shares21 views

NEM Price Shows Bullish Signs due to Binance Listing

Brian Evans - Mar 20, 2018

It has become evident most cryptocurrency markets will head in a very interesting decision moving forward. As of right now, the NEM price is making some big…

Business News
shares25 views

Ripple’s XRP Just Might Be the Next Big Crypto Futures Market

Brian Evans - Mar 20, 2018

A little-known British crypto company has already turned XRP futures into a budding business worth over $30 million a month.

Most from this category

%d bloggers like this: