NEM token holers have not ha much to celebrate in the last couple of months. Now however there is great news for NEM token (XEM) users. A partnership deal between NEM and Travala will see XEM users enjoy hotel offers of up to 40%. The users can enjoy these benefits in over 2 million hotels spread across over 200 countries.
Over the last two years, the NEM foundation has been dormant. This has seen investors witness little project development. This is always evident in market performance. Recently, Nem tokens, XEM, have fallen out of favor with crypto market investors. After making the top 20 rankings by market cap during the 2017 crypto boom, the token has since been slipping. Now the token has slipped as far as 29th in the ranking.
With the latest development, it is likely that NEM sees a short term pump and in the mid and long term sees better adoption. With better adoption comes higher demand and price increases.
The NEM Foundation has announced its partnered with Travala, a hotel accommodation company that has tokenized incentive structures. Already, Travala accepts over 20 cryptocurrencies as a form of payment. Among the most prominent are Bitcoin, Ethereum and Tron. For NEM, this means use case for the digital asset, a vital and integral aspect for any token.
The 40% discount is set to motivate travelers to buy NEM tokens and holders to avoid selling. This will drive demand and see price growth over the long term.
The NEM foundation CEO, Alex Tinsman, noted this about the partnership;
“We’re glad to be partnering with them to include XEM on their platform, further underlining our long-term message of scaling the technology for all institutions across all industries,”
NEM Price Update
At the time of writing this, the announcement seems to have triggered a short term rally. XEM is enjoying gains of more than 4% and is exchanging for a little over $0.039. The digital asset is still down by more than 90% from its all-time high of a little over $2.00 reached back in 2017. With altcoins beginning to outperform Bitcoin in the new year and bullish sentiments revived around the market, it will be interesting to see if XEM can climb to its all-time highs this year.