Argentinian low-cost airline Flybondi is immersing itself into Web3 by issuing NFT flight tickets on the Algorand blockchain with the help of NFTicket tech company TravelX. This paves the way for many possibilities…
Flybondi says the NFT ticket “offers a more flexible travel experience that allows passengers to even buy in advance without having to define their travel plans or who the travelers will be.”
Prepare for takeoff✈️
We're thrilled to see @flybondioficial tokenize their inventory with @travelx__ to create the world's first secondary market for airline tickets!@algorand is built for large-scale applications & real-world solutions.
— Ⱥlgorand Foundation (@AlgoFoundation) March 30, 2023
Namely, users can now sell or transfer the tokens minted on the blockchain to other travelers up to three days before the applicable flight. As a result, the airline can reduce customer service costs and increase its revenue from trading fees.
This will drastically reduce the number of victims from cancellation penalties or non-refundable tickets!
TravelX stated the following regarding the benefits users may enjoy after resorting to NFT flight tickets: “This innovation in the industry will allow greater flexibility for travelers who will be able to anticipate their travel plans by accessing better rates without the risks associated with purchasing tickets well in advance.”
More details on the NFT flight tickets
- Purchase travel tickets through the Flybondi website using the fiat cryptocurrency.
- Travelers can then create a Ticket 3.0 account to manage and store their NFTs through Flybondi.
- Passengers can sell/purchase their NFT flight tickets directly from other passengers; this eliminates the middleman (airline).
- TravelX and Flybondi Airline each receive a 2% transaction fee when trades are made on the secondary market.
TravelX is a market-leading technology company. It is led by a team of experienced travel and blockchain tech industry professionals.
Furthermore, the company has raised a $16M seed round to develop a blockchain-based retailing solution for airlines.
It’s worth noting that their collaboration with Flybondi on NFT flight tickets isn’t their first web3 venture!
In detail, TravelX partnered with Spanish airline Air Europa in April 2022 to launch a series of NFT tickets linked to special perks and events.
Not to mention that the Latin American crypto exchange Lemon integrated TravelX onto its platform in October 2022. This allowed users to buy and sell their airline tickets.
Revolutionizing The Old Ways
Without a doubt, taking the plunge and being the first airline to offer the innovative route of NFT flight tickets will surely put Flybondi on many people’s radars.
— CryptoTrainer.algo | NEVER in your DM's (@CryptoTrainer2) March 31, 2023
Mauricio Sana, CEO of Flybondi, said: “Flybondi’s Ticket 3.0, powered by TravelX’s NFTicket technology, demonstrates our commitment to innovation and providing our customers with the best possible experience. We’re excited to be at the forefront of this change in the travel industry.”
From NFTs as concert tickets, to airline tickets and soon enough bus/train passes. This new era of NFT ticketing will surely change many industries.
How will average joes receive these drastic updates? Will they adopt the new technology or rebel against it? This remains up for question.
However, one thing is obvious. The mainstreamers are becoming accepting of NFTs in recent months more than ever before!