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Argentinian Airline Flybondi employs NFT to issue flight tickets

The low cost airline has partnered with TravelX, a company which provides NFT solutions for airlines.

India TV Business Desk Edited By: India TV Business Desk New Delhi Updated on: April 01, 2023 12:17 IST
Argentinian Airline Flybondi
Image Source : FREEPIK Argentinian Airline Flybondi employs NFT to issue flight tickets

Argentinian low cost airline which was founded in 2016, Flybondi, has partnered with NFT Ticketing solution firm, TravelX to issue airline tickets as Non Fungible Tokens (NFT). Now the travelers have an option to buy a flight ticket and then transfer it to someone else.

The NFT ticketing firm TravelX, which is listed on Latin crypto exchange ‘Lemon’, revealed this partnership this week.. They have branded the technology as Ticket 3.0. TravelX revealed that when the NFTickets are sold in the secondary market, TravelX and Flybondi will receive a two percent cut, each.

The airline official website allows the users to purchase airline tickets using any preferred payment method and then TravelX issues a NFT ticket with the usual ticket. 

There are several potential advantages of issuing flight tickets on NFTs (non-fungible tokens). Firstly, NFT flight tickets are difficult to counterfeit and only valid ticket holders are allowed to take the flight. Secondly, NFTs can be easily transferred and verified using blockchain technology, which can help streamline the ticketing process and reduce the need for manual checks and validation. 

Thirdly, NFTs can be programmed to include certain conditions or restrictions, such as the ability to transfer the ticket to someone else or the option to resell the ticket. This can provide added flexibility for travelers who may need to change their plans. Additionally, NFTs are a digital asset and do not require the use of paper or other physical materials, which can help reduce the environmental impact of ticketing.

In April 2022, Travel X had partnered up with a Spanish airline Air Europa to issue the first ever NFT airline ticket.

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ALSO READ: Nvidia distances itself from cryptocurrencies, remarking that it adds nothing to the society

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