Quarterly Business Update: Q1 2024

Record-breaking Sales & Market Highs Q1 2024 Update Banner

From the CEO’s Desk

The cryptocurrency market bull run, marketing campaigns, product launches, and continued platform improvements have led to a record-breaking quarter for sales on, with total Q1 gross revenue surpassing all previous quarters. The exceptional results were felt across the board: flights, room nights, and activities all achieved their highest quarterly sales performance in history, resulting in $22.4 million gross revenue in Q1.

March in particular was our best month on record at $8.88 million gross revenue, thanks partly to Bitcoin reaching a new all-time high in the same month. Following the approval of several Bitcoin exchange-traded funds (ETFs) earlier this year by the US Securities and Exchange Commission, and as the Bitcoin halving nears, the excitement can be felt throughout the entire web3 community—a sentiment we’re looking to leverage in order to harness this phenomenal momentum.

With approximately 8% of our travellers opting to book travel with Bitcoin, and with the cryptocurrency being the most widely recognised globally, we’ve introduced Bitcoin-related initiatives with the goal of generating interest within the community and introducing new users to The first of these recent initiatives came at the start of the quarter with our $10,000 Bitcoin giveaway, which was followed by the launch of Bitcoin givebacks for Diamond members, enabling top-tier members of the AVA Smart Program to receive up to 10% back in Bitcoin on every trip.

The market is also primed for establishing partnerships within the ecosystem to broaden our reach. We listed 11 payment options in the last quarter alone, partnered with several leading events around the world as their travel partners, and are working with various partners to extend our unique points of difference and continue innovating with cutting-edge projects.

These are truly exciting times to be part of the web3 community. With the wider market further embracing cryptocurrency, the upcoming Bitcoin halving, and the level of web3 innovation taking shape throughout industries, we’re ready to see what the future holds.

Juan Otero, Chief Executive Officer

Bookings & Revenue Update

This was our best-performing quarter of all time, with recording a cumulative gross revenue total of $22.40 million with 76% YoY growth in comparison to Q1 2023 ($12.67 million). Our best quarter in terms of gross revenue was previously Q4 2021—at the height of the last bull market—where we achieved $17.36 million, meaning Q1 2024 results beat the previous quarterly record by 29%. With the cryptocurrency market in full swing and the Bitcoin halving just around the corner, it’ll be fascinating to see just how far the momentum of this bull run can propel the industry forward.

Q1 2024 Summary:

  • January gross revenue: $6,456,525
  • February gross revenue: $7,065,131
  • March gross revenue: $8,882,815
  • Total Q1 gross revenue: $22,404,471
  • Gross revenue and bookings by vertical: 
    • Hotels: $13,404,552 (33,619 room nights; 59.83%)
    • Flights: $8,905,748 (16,126 flights; 39.75%)
    • Activities: $94,171 (406 activities; 0.42%)
  • Total AVA givebacks: 351,694 AVA (approx. $238,905)
  • Total Bitcoin givebacks [NEW]: 0.025 BTC (approx. $1,718)

Matthew Stevens, Chief Financial Officer

Product Update

Several product launches, improvements, and additions went live on the platform this quarter across key areas of the platform. In particular, collaborative launches with the AVA Foundation and improvements to both properties and flights stood out as major accomplishments in Q1.

What’s New

  • Launched booking rewards of up to 10% back in Bitcoin for Diamond members.
  • Launched the option for Diamond members to lock an additional 2,500 AVA per Travel Tiger NFT to increase the AVA Smart Bonus.
  • Improved the ranking algorithm and sort options for accommodation searches
  • Added additional fare options for flights
  • Added a further 35,000 properties, searchable across all platforms

Bitcoin Givebacks on

Coming Up

  • New perk for Smart members launching early April
  • Travala to go live on new metasearch engines
  • Enable WalletConnect sign-ins and payments
  • Improvements to the use of Travel Credits & Promo Credits
  • Significant improvement in the hotels inventory with the addition of pay-at-hotel properties
  • Travala brand refresh project
  • AVA deals implementation
  • Adding more suppliers and inventory
  • Google Hotels integration expansion
  • Integration of flight listings on KAYAK and other major metasearch engines
  • Dtravel homes integration
  • Exploration of ancillary travel products

Subhanshu Saxena, Chief Product Officer

Marketing & Community Update

The first quarter of the year brought with it opportunities for new marketing campaigns to encourage bookings and user growth via initiatives including NFT and Bitcoin giveaways, as well as through PR activities to announce our major news.

What’s New

  • Ran the $10,000 Bitcoin giveaway for bookings made in January, boosting additional sales
  • Announced up to 10% back in Bitcoin for Diamond members, gaining wide exposure via major publications including Cointelegraph, TradingView & more
  • Ran the Travel Tiger NFT Giveaway for Smart membership activations and upgrades
  • Launched campaigns for event partners including WOW Summit Hong Kong 2024, TOKEN2049 Dubai, Paris Blockchain Week and CONF3RENCE
  • Announced new concierge benefits for luxury travellers with Hyatt Privé
  • App revenue saw a significant 50%+ increase from Dec 2023 to February 2024 (in comparison to total gross revenue increasing 20%), demonstrating the importance of a mobile-first strategy
  • New SEO content launched across accommodation and flight pages to increase global reach and attract new users

Binance Pay x TOKEN2049 Dubai Campaign

Coming Up

  • A special Bitcoin halving promotion to incentivise further travel bookings on
  • An upcoming giveaway for new and existing Smart members
  • Promotional campaigns with crypto partners using NFTs and WalletConnect
  • Paid advertising campaigns to increase app downloads and target crypto audiences
  • Technical and content strategy targeting crypto and web3 users
  • Brand refresh project, including redesigned website, logo and brand story

Sam Woollard, Chief Marketing Officer

Partnerships Update

As the market heats up, so too does the number of partnerships we’re forging. In Q1, we partnered with long-standing partners Binance Pay and Galxe, added 11 cryptocurrency payment options, and were named Official Travel Partners of four leading web3 events.

What’s New

Galxe and Travala 5% Off

Coming Up:

  • Engaging with different travel brands that want exposure to a crypto audience
  • Tapping into the web3 community via partnerships
  • Encouraging bookings and growing the community by strategising around market movements
  • Expanding the range of crypto payment options available on
  • Amplifying reach via partnerships and integrations with travel companies
  • Partnering with premier crypto events to enhance’s visibility

Upcoming Crypto & Travel Events

See what crypto and travel events are happening soon in our latest Upcoming Events article.

Shane Sibley, Head of Business Development

AVA Smart Program

Contributor Tasks

The Contributor Tasks for Smart members are live until 16th April! To receive your AVA Smart Bonus (Smart Steel–Platinum members) and Ambassador Bonus (Diamond members only), simply complete the Contributor Tasks.

Log in to Gleam using your account email HERE.

Remember, if you spent a minimum of US$50 worth of AVA on within the previous quarter (1 January – 31 March 2024) on completed travel bookings, Travel Credit purchases, or Travel Gift Cards, you’ll automatically be able to claim the AVA Smart Bonus during the Claim Period from 23rd April – 7th May without completing the Contributor Tasks. To claim the Ambassador Bonus, you MUST complete the Contributor Tasks. More info.

Contributor Tasks Open January 2024

Travel Drop

The 8th Travel Tiger Club Drop saw one lucky Smart Diamond member win a luxury tiger safari holiday package to India for two!

The winner and one guest will embark on a privately guided journey across India’s Golden Triangle, exploring the breathtaking highlights of Delhi, Agra and Jaipur. They’ll tour the Taj Mahal at sunrise as the colours of the marble glisten on one of the seven wonders of the world, explore the architecture and history of Old Delhi, and encounter tigers and other exotic animals from their private jeep at Ranthambore National Park!

All Smart Diamond members are automatically entered into the Travel Drop draw. Upgrade your Smart membership today for your chance to win!

The next Travel Drop will be drawn in May, so be sure to keep an eye on our socials and your inbox!

Travel Drop #8 India Winner

What’s Next

Thank you for reading our Q1 2024 Quarterly Business Update. Stay updated on our channels to hear about the latest news, and be sure to tune in to our socials for the announcement of the next Travel Drop for Smart Diamond members!

If you have any questions or feedback, please reach out to us on the official Telegram channel.


Founded in 2017, is the leading crypto-native travel booking service with 2,200,000+ properties in 230 countries, 400,000+ activities, and 600+ airlines globally. is a champion of cryptocurrency adoption, accepting over 90 leading cryptocurrencies alongside traditional payment methods. In addition to unbeatable prices via its Best Price Guarantee, Smart members on can also enjoy additional discounts and loyalty rewards for eligible bookings made on the platform. For more information about, visit:

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