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Low-budget Argentinian carrier, Flybondi has started issuing all its flight tickets as NFTs on the Algorand blockchain.
NFTs For All Flybondi Flyers
Along with other industries, Web3 is hitting the skies too. Argentinian airlines Flybondi has partnered with NFT ticketing company TravelX to integrate Web3 into its ticketing process in its latest Ticket 3.0 initiative. All Flybondi e-tickets are now issued as non-fungible tokens, and passengers will be able to own, trade, or sell them as NFTs on the Algorand blockchain.
Staci Warden, CEO of Algorand Foundation, commented on the partnership with TravelX and Flybondi,
"We are thrilled to see our technology being utilized in such a unique way by TravelX. This likely represents the largest use-case of utility NFTs we've seen and something that could only happen with the reliability and scalability of the Algorand blockchain."
Australian airlines Qantas had also launched its own NFT project back in 2022.
TravelX And NFTickets
TravelX is one of the few companies offering NFT ticketing services. The company had previously worked with the Spanish airline Air Europa in 2022 on a special NFT ticket project. Plus, the service has also been integrated into the trading platform of the LatAm crypto exchange Lemon to allow customers to buy and sell airline tickets.
TravelX CEO commented on the partnership with Flybondi, saying,
"Our partnership with Flybondi and the integration of our NFTicket technology on the Algorand blockchain exemplify the enormous potential for innovation within the travel industry. We're eager to continue driving this transformation alongside the other airlines worldwide we are already working with."
Buy Tickets For Trading
Colloquially dubbed NFTickets, these tokens were created by the airlines to offer flyers a more flexible flying experience. Since these are NFTs, buyers could purchase them in advance without solid travel plans or even passenger names. They would have the power to transfer the tickets as and when they please and, as a result, earn their own profits.
In return, the airline will be able to save on customer service costs and earn its own revenue from a percentage of the trading fees. The transaction fee amounts to 2% to TravelX and another 2% to the airline when the NFTicket is traded on the secondary market. There are no charges on the initial purchase of the ticket.
Flybondi CEO Mauricio Sana spoke about the initiative in a recent press release,
"With this launch, we seek to generate a positive impact in the aviation industry through innovation and an application of blockchain technology. Changing the rules of the game is never easy, but we know that it is our objective to evolve and offer our passengers a new stage of the freedom to fly."
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.