Author: Weilin, PANews
In this round of bull market, the prediction market has ignited the enthusiasm of C-end users, and meme coins have boosted the growth of the crypto market. With the total market value of stablecoins hitting 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 consumer tracks?
Web3 travel platform Umy has brought new possibilities to the consumer goods track. Designed specifically for Web3 users, Umy 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 applications and entry into the mainstream have always been the direction of the crypto market's efforts, and RWA and PayFi have become important entry points.
RWA, which brings real-world assets onto the chain, is a hot track in this cycle. As of December 4, according to rwa.xyz data, the total asset size of the RWA track (excluding stablecoins) reached US$13.21 billion. Ondo Finance, which brings US debt onto the chain, and Propy, which puts real estate on the chain, have both achieved good market performance this year.
The concept of PayFi was not proposed until July last year. According to SoSoValue data, as of December 4, the top four projects in RWA market value have exceeded US$1 billion, representing a new way to build financial markets, creating financial primitives and product experiences around the time value of money, achieving more efficient and low-cost transactions, and applicable to Web3 transactions, off-chain consumption scenarios, retail environments, creator monetization, accounts receivable, payment processing, private credit pools and other scenarios. At present, representatives in the field of PayFi include Ripple, a long-established payment settlement public chain that has recently led the secondary market, COTI, a B-side payment solution, and Safe, a multi-signature wallet provider.
RWA and PayFi are both 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. Umy focuses on encrypted payments, 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 wave of Web3 consumer applications.
Four core products: Reshaping travel and consumption experience
Umy has launched four core products focusing on housing, transportation, e-commerce and innovative consumer 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 with 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, the prices on these platforms are usually much higher than those of traditional online travel agencies such as Ctrip, Qunar.com or Fliggy. In contrast, the Umy platform cooperates with HashKey to provide hotel room rates that are basically the same as the over-the-counter (OTC) price of USDT, and in some cases are even more favorable than the OTC price. This price advantage makes Umy a better choice for users to pay hotel fees with USDT.
Another product, Umy Flights , is a platform that supports cryptocurrency payments for air 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 the convenience and discounts of online shopping.
Umy X is an innovative Web3 consumer product that supports tokenized transactions of real-world assets (RWA), enhances the overall lifestyle of travelers, fully integrates digital assets and consumer products, drives real industry growth, and is expected to drive the growth of the RWA track.
From the perspective of 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, and the fees are high and the hidden fees of cross-border payments are a headache. In addition, traditional platforms currently have encryption payment barriers, 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 payment achieves no exchange rate conversion fees and fast transactions. Its innovative travel experience focuses on meeting the needs of Web3 users.
Multiple new features launched, working with HashKey to open up new Web3 business travel scenarios
The Umy team completed two homepage iterations in just four months and basically perfected 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.
Currently, Umy has reached cooperation with ImToken, HashKey and TON ecology, and will support more ecological assets in the future to continuously expand the platform's compatibility and user selection space.
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 promote the implementation of Web3 consumer experience and PayFi, bringing users a more convenient and innovative payment experience. They also plan to conduct in-depth cooperation in Web3 consumer experience in the future. Through resource sharing and technical complementarity, Umy will bring customized business travel services and convenient payment experience in PayFi scenarios to Hashkey users.
In the future development roadmap, Umy plans to have four stages:
- Phase 1: Global hotel and air ticket reservations, solving the most basic pain points in the travel industry.
- Phase 2: Blockchain conference support will improve the efficiency of information exchange within the industry and help the industry attract more traffic.
- Phase 3: Personalize travel and shopping services to enhance user experience and drive long-term user growth on the platform.
- Phase 4: Integrate e-commerce and commodity payment, open up the global consumer payment chain, and promote seamless connection between the platform and 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 enter Web3, Umy has great potential to compete with traditional giants of Web2.
