Flybondi, a low-cost Argentine airline, is introducing blockchain tech in its operations. The company announced recently it will start issuing tickets as non-fungible tokens (NFTs), broadening the possibilities of what customers can do with them. Users will be able to sell or transfer the tokens to other travelers up to three days before the applicable flight, for example.
Flybondi to Issue NFT Tickets
More companies are including NFTs as part of their business models due to the perceived benefits and advantages they can bring. Flybondi, a low-cost Argentine airline, has also decided to use blockchain tech in its operations, announcing it will issue tickets as non-fungible tokens (NFTs), broadening the scope of what customers can do with them.
The solution, which was developed by Travelx, a blockchain tech development company, will allow customers to trade, transfer, and sell the tickets, changing the names of the users up to three days before the flight.
The alliance also introduced the possibility of purchasing these tickets using Binance Pay with stablecoins, including USDC at the beginning. However, Travelx announced that other stablecoins will be included to provide more possibilities to customers.
Regarding the benefits users may enjoy with the change, Travelx stated:
This innovation in the industry will allow greater flexibility for travelers who will be able to anticipate their travel plans by accessing better rates without the risks associated with purchasing tickets well in advance.
Web3 Introduces Secondary Markets
The inclusion of Web3 tech and NFTs in such operations will open secondary markets for customers. About the use of these new technologies, Travelx stated the move brings a new phase “where the travel industry and the world of the new web3 come together to provide a much more flexible experience for travelers, while generating new sources of revenue and a strong reduction in transactional costs for airlines.”
According to Flybondi’s statements, the company is one of the pioneer organizations implementing this kind of functionality and expects others to follow if this experiment proves successful.
Projects using NFTs as part of their operations have multiplied this year. On September 8, the European Union announced a plan to use NFTs to protect intellectual property and fight counterfeiting. In August, a report issued by Grand View Research, a market research company, estimated the NFT market will grow to reach $200 billion in 2030.
Tags in this story
Airline, Argentina, Argentine, cost reduction, Cryptocurrency, flybondi, nft, Secondary Markets, tokenization, travelx, Web3
What do you think about Flybondi’s issuing of airline tickets as NFTs? Tell us in the comments section below.
Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.
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