SNEAK PEEK
- Flybondi has grown its collaboration with NFT ticketing company TravelX to issue tickets as NFTs on the Algorand blockchain.
- Passengers can buy travel tickets via Flybondi’s website via fiat currency.
- Flybondi believes that non-flexible ticketing options offer travelers an even adaptable travel experience and allows them to buy tickets in advance.
Flybondi, an Argentinian low-cost airline, is including Web3 in its ticketing procedure via issuing e-tickets as NFTs, a move shared by Today NFT News in September 2022, when the plan was initially announced.
Announced on March 30, the integration is termed “Ticket 3.0” and is an expansion of the current relationship with TravelX, an NFT ticketing firm.
Built on the Algorand blockchain, the NFT ticketing technology enables passengers to change their name and sell or transfer their “NFTickets” independently.
Flybondi said that the NFT ticket provides an even flexible travel experience to enable passengers to purchase tickets in advance without sharing travel plans or who the travelers will be. The airline will in return curb the cost of customer service and boost revenue from trading fees.
Facundo Martin Diaz, TravelX chief blockchain officer, said that the firm doesn’t charge any fee in September when users buy a ticket though it receives a transaction fee of 2% transaction when trades are conducted on secondary market. He added that airlines receive a 2% cut.
Passengers can buy travel tickets via the Flybondi website through fiat currency. A synchronized NFT ticket is issued by TravelX on top of the regular e-ticket. Now, travelers can make a Ticket 3.0 account and handle as well as store their NFTs via Flybondi. The smart contract of NFT includes ticket-related rules and conditions.
Mauricio Sana, Flybondi CEO, said in a press release that via the launch, they are looking forward to creating a positive impact in the aviation industry via innovation and a blockchain technology-based app. He shared that they aim to evolve and provide a new stage of the freedom to fly to their passengers.
In April 2022, TravelX joined Spanish airline Air Europa for the release of a series of NFT tickets connected to unique advantages and events. Lemon, a Latin American crypto exchange, incorporated TravelX on its platform in October 2022 to enable users to purchase and sell airline tickets.
TravelX has an open infrastructure to facilitate other marketplaces or exchanges to use the TravelX API. The company said that around 60 airlines globally are exploring the use cases of its NFT tickets.
