Sleap.io and Avata have unveiled what they tout as the world’s first tokenized travel insurance, marking a notable stride in the application of blockchain technology. This innovative development aims to bring heightened flexibility, security, and personalization to the realms of travel and insurance.

Sleap.io, a native Web3 Hotel Booking Platform, utilizes blockchain to revolutionize travel booking. Unlike conventional platforms, Sleap.io employs NFTs, with each user search and booking generating a unique non-fungible token. These NFTs facilitate future booking transfers and add additional layers of utility to the platform.

The introduction of tokenized travel insurance, tied to an Insurance NFT rather than an individual, represents a significant move towards decentralization. This approach affords NFT holders remarkable control over their travel insurance, signaling a shift towards more adaptable and secure insurance solutions.

Supporting this tokenized insurance product is the Camino Network, a blockchain tailored to the specific needs of the travel industry. Its robust infrastructure ensures the reliability and security of this innovative insurance solution, catering to the dynamic requirements of modern travelers.

The idea for tokenized travel insurance originated during the Travel Unchained conference in Mallorca, sparking the collaboration between Sleap.io and Avata. Michael Ros, CEO and Founder of Sleap.io, emphasized the partnership’s commitment to innovation and blockchain’s transformative potential. Avata, an InsurTech company, offers a plug-and-play platform that integrates insurance solutions within the digital and tokenized asset space, further advancing the evolution of travel insurance.