BAAR, SWITZELAND - Blockchain startup Chain4Travel has fully achieved its self-imposed target for the private pre-sale of the Camino token (CAM). 50 million Camino tokens were made available in an initial sale to interested companies and private investors from the travel industry. Demand by the deadline of 23 September 2022 was enormous and the Camino tokens will now be transferred to early investors in the coming weeks. The sum corresponds to a value of five million Swiss francs (around 5.2 million euros).
Chain4Travel has already successfully closed the first seed financing in June this year for 4.3 million Swiss francs. In the now ended private pre-sale of the token, partners and private individuals who support the concept of a common blockchain as a future-proof operating system for the travel industry were able to invest. The goal was to issue five per cent of the total tokens in the private pre-sale before the Initial Exchange Offering (IEO) takes place next year.
More than 300 international companies and private investors from Europe, Asia, North and South America and Australia participated in the first token sale. Among them are well-known tour operators, airlines, incoming agencies and accommodation providers, car rental companies as well as travel technology companies and other partners such as providers of customer loyalty programs. All sectors of the travel industry are represented. In the future, the Camino token will enable people to buy and sell services and products as part of the network, and travel companies can act as validators and thus participate in the operation of the travel industry blockchain and exercise voting rights.
Ralf Usbeck, CEO of Chain4Travel, said: "We are very pleased with the closing of our private pre-sale. We are starting to build the Camino Blockchain with a solid financial backing, numerous motivated supporters and validators who play an important role in the security and further development of Camino - excellent conditions for our joint network."
Thomas Stirnimann, COO of Chain4Travel, summed up: "The topic of blockchain and Camino has arrived in the travel industry. In the coming weeks and months, we will set up the joint network as broadly as possible so that all partners can benefit from the advantages of this decentralized technology."
The goal of Chain4Travel is to establish a decentralized blockchain-based network for the efficient and secure trading of travel products. By using the common blockchain, Camino, enormous synergies and new service approaches arise for uniquely identified trading partners with stable and low transaction costs. In future, the network will be operated and managed by the industry partners themselves.