By
Chimamanda U. Martha
April 17th, 2024
Called “Tickets 3.0”, NFT tickets sold by Flybondi can be renamed, transferred and sold. The whole technology runs on the Algorand blockchain that offers a wide range of secure, efficient and scalable applications.
Emerging technologies, such as web3, are providing new distribution opportunities for companies, a prime example is airlines that have got new ways to sell tickets. One of the latest companies to adopt web3 is Flybondi LCC, the first low-cost carrier in Argentina. Due to its partnership with TravelX, a blockchain distribution company that provides online travel services, Flybondi will sell tickets in form of non-fungible tokens (NFTs).
As Flybondi has explained, NFT tickets ensure “a more flexible travel experience” as they allow passengers to pay in advance even before they make up their minds on the travel plans or who the travelers will be.
Flybondi CEO Mauricio Sanna commented:
“With the launch of this service, we aim to make a positive impact on the aviation industry through innovation and application of blockchain technology. We believe it is our mission to offer a new phase of freedom to fly.”
Called “Tickets 3.0”, NFT tickets sold by Flybondi can be renamed, transferred, and sold. The whole technology runs on the Algorand (ALGO) blockchain which offers a wide range of secure, efficient, and scalable applications.
Staci Warden, CEO of Algorand Foundation, said:
“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.”
Travelers can purchase travel tickets through the Flybondi website with fiat currency. Then, TravelX will issue a synchronized NFT ticket on top of the regular e-ticket. Further, passengers can create a Ticket 3.0 account to manage and store their NFTs through Flybondi. Notably, the company has already integrated ticket-related rules and conditions into the smart contract.
TravelX to Transform Travel Experience
TravelX aims to help airlines distribute tickets as NFTickets, which strongly increases ownership to customers and improves revenue and operation automation for airlines. It empowers customers to transfer, rename, or resell their tickets while providing airlines with a transparent, secure, and efficient distribution system. In other words, NFticket is a totally automated product through which customers can self-service key processes in their wallets. This strongly impacts customer satisfaction as well as leads to the reduction of operational costs for the airline.
The first airline company to release an NFT flight ticket series was Air Europa, the third-largest Spanish airline. Notably, TravelX and Air Europa held a live auction in Paris and sold their first NFTicket for as much as $1 million.
Through new technologies and systems evolution, the distribution of airline tickets has been expanding year after year, bringing travelers and airlines closer. And TravelX strongly believes that the solution it offers can completely transform the travel experience, with NFT tickets being an excellent challenge the industry needs to adopt. So far, the general feedback about NFT tickets has been positive. Therefore, we can expect more airlines to employ this technology.