Argentine-based low-cost airline Flybondi has joined forces with TravelX to issue NFT tickets to its customers. TravelX is a Web3 travel company that launched last September, and aims to help airlines issue tickets as non-fungible tokens.
Prospective holidaymakers can buy tickets directly on Flybondi’s website, which can be purchased using fiat currencies. Once a passenger makes a purchase, they will receive a synchronized NFT ticket on top of their regular e-ticket. Then they can proceed to create a Ticket 3.0 account on the platform, which will help them manage and store the NFTs. Additionally, the passenger is able to change their name, transfer, and even sell the NFT tickets as they like.
As Facundo Martin Diaz, chief blockchain officer at TravelX, notes, the first purchase doesn’t incur any fees, but secondary sales of the “NFTickets” are charged a 2% transaction fee by the platform, while, airlines will receive an additional 2% cut from the sale.
— flybondi (@flybondioficial) March 29, 2023
Flybondi Enters Web3
The integration, dubbed Ticket 3.0, marks Flybondi’s entry into Web3. It’s a move that has the management team buzzing. In a press release, Mauricio Sana, CEO of the airline, notes that the goal is to “generate a positive impact in the aviation industry through innovation and an application of blockchain technology.”
He goes on to add that “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.”
Now, these NFT tickets will offer holders a more flexible travel experience. Passengers can buy them in advance without having to make concrete travel plans or even declare who will be traveling. Consequently, Flybondi is able to cut its customer service fees and boost its revenues through trading fees.
TravelX tapped into the Algorand blockchain to build the airline’s NFT ticketing technology. The platform is on a mission to onboard more airlines, therefore opening up Web3 opportunities for travelers.
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Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.
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