SINGAPORE--(BUSINESS WIRE)--NEOPIN, a global CeDeFi platform, announced its Memorandum of Understanding (MOU) with Tripbtoz to develop a Web3.0-based travel platform on April 6.
Tripbtoz is a travel platform based on user-created short-form video content. Beyond simple travel commerce, Tripbtoz offers features such as a "community" for sharing travel videos and a "reward system" in the form of "trip cash". These features have formed a positive travel cycle, resulting in a rapid growth in total revenue, monthly active users (MAUs) and user-generated content since the platform's launch in 2017. After an in-depth discussion, NEOPIN and Tripbtoz, who established a connection as officials of the business delegation that accompanied the Korean government's economic summit with the United Arab Emirates (UAE) last January, decided to collaborate on a Web3.0 project based in the Middle East.
This collaboration between NEOPIN and Tripbtoz is particularly significant as it is the first incubation project in which NEOPIN supports the web3 transition of a web2 tech company. NEOPIN will help translate Tripbtoz's existing travel platform into a Web3.0 version that will showcase the "Travel Web3.0'' ecosystem for young travelers to communicate. Through this MOU with Tripbtoz, which is the first use case of applying Web3.0 to the natural economy, NEOPIN intends to maximize its resources to support the global success of Tripbtoz.
Jake Kim, CEO of NEOPIN, stated, “As NEOPIN participates in the incubation and supports Tripbtoz's Web3.0 translation, we aim to turn the service into a successful Web3.0 travel platform by leveraging both companies’ experiences in blockchain and the travel industry. He also emphasized, “With the greater responsibility that comes from this cooperation, which arose from the connection at the business delegation, we will do our best to ensure high performance.
Jiha Jung, CEO of Tripbtoz, noted, “The travel industry is in a big transition, with lines blurring between the real world and metaverse. We want to create Tripbtoz to excite its customers with high-performing ‘Travel to Earn’ service that is perfectly suitable for Web3.0.” He also added, "The combination of travel and future tech will disrupt the existing ecosystem, eventually creating a new form of industry.”
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