Everlodge (ELDG) token to benefit as the travel industry booms

The global travel industry is doing well as evidenced by the performance of key companies in 2023. Airbnb stock price jumped by over 62% while hotel groups like Hilton and Marriott soared by over 40%. Cruise line companies like Carnival and Royal Caribbean more than doubled.

Airlines, on the other hand, soared as most of them made huge plane orders from Boeing and Airbus. And analysts believe that companies in the sector will continue thriving in 2024 as inflation and interest rates retreat.

A key catalyst for the travel industry is the ongoing performance of key assets like cryptocurrencies and stocks. Digital currencies like Bitcoin, Ethereum, and Solana more than doubled, pushing the total market cap in the industry to over $1.7 trillion. 

Equities also did well in 2023 as the Nasdaq 100 index jumped by more than 50%. The closely watched S&P 500 and Dow Jones indices also soared by double-digits during the year.

The travel industry thrives when there are several tailwinds. For example, higher stocks and crypto prices lead to more consumer confidence, which in turn leads to more spending. Also, falling inflation, rising wages, and low interest rates are crucial for the sector.

Analysts believe that these conditions will converge in 2024. Data published on Friday showed that the Personal Consumer Expenditure (PCE) dropped again in November as energy prices continued falling.

At the same time, the Federal Reserve has pointed to at least three rate cuts in 2023. Analysts see more cuts if inflation continues falling and economic growth stalls.

EverLodge is aiming to take advantage of these tailwinds in the hospitality industry. The developers have created a platform that is at the intersection of the sector and the blockchain technology. Precisely, they hope to disrupt the vacation rental segment by using blockchain. 

The idea is relatively simple. Since most people don’t have access to funds to own vacation rentals, they can crowdsource and own property at the best locations. After doing this, they can comfortably make money from rentals. 

These properties are bought in the form of Non-Fungible Tokens (NFT), which can also increase liquidity since one can buy and sell their asset within a few minutes. It also uses key technologies like smart contracts to make the ecosystem safe, 

Everlodge will be powered by the ELDG token. According to its white paper, the token will have a presale supply of 532 million tokens, with the initial price of $0.01. At the time of writing, this presale price has risen to 0.027 USDT and the developers have sold over 22.3 million tokens. This growth happened as the creators provided a 30% deposit bonus. You can buy the Everlodge token here.