Quick take:
- Flybondi has expanded its partnership with TravelX to integrate NFTs into its ticketing process.
- The low-cost Argentinian airline plans to issue NFTs for all tickets.
- It will allow Flybondi passengers to change their name, transfer or sell tickets attached to NFTs independently.
Flybondi has expanded its relationship with NFT ticketing company TravelX to issue NFTs for all of its airline tickets. The company is dividing deeper into web3 with a new ticketing solution dubbed Ticket 3.0 built in conjunction with TravelX.
According to the announcement on Thursday, the NFT ticketing integration will allow Flybondi passengers to change their name and transfer or sell tickets attached to NFTs (NFTickets) independently.
The new ticketing technology is built on the Layer 1 proof-of-stake Algorand blockchain for scalability and fast execution of transactions.
According to Flybondi, the NFTicket “offers a more flexible travel experience that allows passengers to even buy in advance without having to define their travel plans or who the travellers will be.”
The company thinks the integration will boost its top line with trading fees collected whilst also reducing customer service costs.
Commenting on the role NFT technology could play in the future of airline ticketing, Mauricio Sana, CEO of Flybondi said: “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.”
Founded in 2016 by Julian Cook and Richard Guy Gluzman, Flybondi began operations in Argentina five years ago to transform the airline industry in the region. As a result, more than seven million passengers have since used low-cost airlines in the region.
On the other hand, TravelX launched in September 2022, just about the time new industry players began flocking to the market with NFT projects focused on utility and use cases.
Although the company does not charge any fees for purchasing tickets paired with an NFT, it collects a 2% transaction fee for the trades that take place in the secondary market, TravelX chief blockchain officer Facundo Martin Diaz told CoinDesk in an interview last September.
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