Argentinian low-cost airline Flybondi is expanding its partnership with the NFT ticketing company TravelX. The partnership extension has resulted in the integration of non-fungible tokens into Flybondi’s ticketing process, meaning that the company will issue e-tickets as NFTs.
The new ticketing solution dubbed ‘Ticket 3.0’ is aimed at creating a secure and seamless experience for all travelers, eliminating the usual restrictions on changing the ownership of tickets. For instance, Flybondi passengers will be able to easily change the name on the ticket, give it away, or transfer it to another person. ‘Ticket 3.0’, already available on all Flybondi's domestic routes, also has a feature, allowing customers to purchase tickets in advance without defining exact travelers and their travel plans.
Passengers can buy tickets directly through Flybondi's website using traditional means of payment. While booking, NFTs are generated by default and are stored in the traveler’s Flybondi account. Built on the Algorand blockchain, new ticketing technology will stand for scalability and fast execution of transactions. As per reports, the company will not charge any fees for NFT ticket purchases but will benefit from a 2% transaction fee for trades executed on the secondary market.
Mauricio Sana, CEO of Flybondi, said the initiative gives travelers greater flexibility and freedom when planning their trips.
"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," he added.
Bringing NFTs into the aviation sector has the potential to benefit both the airline industry and the NFT realm. By leveraging blockchain technology, airlines like Flybondi can offer their passengers smarter experiences while creating new revenue streams by earning transaction fees on the secondary market. At the same time, the adoption of NFT ticketing can drive innovation and growth within the non-fungible realm as more airlines and companies explore the use of the technology. Let’s wait and see how the convergence of the travel industry and blockchain technology will evolve and where it will lead.