Flybondi, a low-cost airline carrier from Argentina, is expanding its partnership with NFT ticketing company TravelX to offer NFT tickets supported by the Algorand blockchain.
According to an announcement made Thursday, all e-tickets will also be issued as NFTs, and it will enable several advantages for travelers, including allowing passengers to change their names and transfer or sell the NFT tickets independently on secondary markets. Ticket 3.0., as it’s being dubbed, has been in the works since the partnership between Flybondi and TravelX began on September 22.
According to Flybondi, the NFT tickets will provide travelers with a “more flexible travel experience,” including the possibility to buy tickets without defined travel plans or stating “who the travelers will be.” Unlike with traditional tickets, travelers can gift or transfer tickets easily to another traveler.
Besides having obvious advantages for travelers, the NFTs will also enable Flybondi and TravelX to generate revenue from trading frees and lower customer service costs. Although TravelX does not charge an upfront fee for tickets, it receives a 2% transaction fee from all trades made on the secondary market. The airline also gets a 2% cut.
The NFT tickets, which can be purchased on Flybondi’s website using fiat currency, are synchronized with a regular e-tickets by TravelX. Travelers can store and manager their NFTs by creating a Ticket 3.0 account on Flybondi. Currently, the NFT tickets are available for all domestic routes operated by the company.
Mauricio Sana, the CEO of Fybondi, said that the airline aims to use blockchain technology to have a “positive impact on the aviation industry.” For anyone who’s ever had to cancel a flight last minute, the flexible changes to the system could be a breath of fresh air.
Airlines’ Interest in Web3 Is Slow and Steady
Flybondi and TravelX’s new NFT ticketing program could be a welcome change in an industry that’s not exactly known for being on the cusp of innovation. But Flybondi isn’t the first airline to show an interest in Web3. At Rarity Sniper, we’ve covered several articles about airlines launching Web3 initiatives. Here are some of the top stories.
First, about six months ago, airBaltic, Latvia’s premiere airline, launched an NFT collection with special in-real-life (IRL) utility. The 10,000 NFTs are linked to its loyalty program, and can be used to accumulate points that can be redeemed for free flights. They can also be traded on secondary markets.
Next, about a year ago, United Emirates Airlines (UEA) launched a utility-based NFT and brand experiences in the metaverse. The UAE, the world’s biggest long-hail airline, said it was committed to using nascent technologies like NFTs and blockchain to develop products and services for travelers.
Lastly, around the same time, the Australian airline Qantas Airways revealed it was working on an NFT marketplace and its first NFT collection. Currently, the website says the Qantas NFTs will be released mid-year and give holders access to future benefits and rewards.
We’ll have to be patient to see if Flybondi and TravelX’s new NFT ticketing feature is popular with travelers. If it is, blockchain technology and NFTs could revolutionize the airline industry. That’s something that many travelers (including this writer) think is a good thing.