Marriott International’s Marriott Bonvoy chain is getting into the Non-Fungible Tokens (NFTs) business.
Bonvoy has teamed up with three up-and-coming digital artists – TXREK, JVY and Erick Nicolay – to create three NFTs and was set to premiere at the famous Art Basel Miami Beach today.
The themes are all travel-inspired.
A Non-Fungible Token, according to Wikipedia, “is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be associated with easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items (analogous to a certificate of authenticity), and use blockchain technology to give the NFT a public proof of ownership,” such as art.
Marriott Bonvoy will become one of the first hospitality brands to create its own NFTs.
“We are excited to bring our extraordinary portfolio of hotel brands and endless experiences into this growing platform,” Brian Povinelli, Senior Vice President, Brand, Loyalty, and Portfolio Marketing,” Marriott International, said in a statement. “We continuously seek opportunities to defy what is conventional and, with our entry in the digital goods space, we are further igniting the transformative power of travel in the virtual world, while supporting this growing community of incredibly talented artists.”
Marriott said that each of the NFTs created for the Marriott Bonvoy brand is an interpretation of travel from the artists’ own unique experiences, illustrating how travel has an unmistakable impact on the human spirit.