Flybondi LCC, the first low-cost carrier in Argentina, is one of the most recent businesses to embrace web3. Flybondi will sell tickets as non-fungible tokens (NFTs) as a result of its relationship with TravelX, a blockchain distribution firm that offers online travel services.
A new platform named “Tickets 3.0” allows renaming, transferring, and selling the company’s NFT tickets. The system is built on top of the Algorand blockchain, which offers a wide range of secure, efficient, and scalable applications. Users may purchase aeroplane tickets on the carrier’s website using fiat currency, and TravelX then generates an extra synchronised NFT ticket on top of the regular e-ticket.
Via the Flybondi website, travellers may buy airline tickets using fiat money. In addition to the standard e-ticket, TravelX will issue a synchronised NFT ticket. To handle and keep their NFTs with Flybondi, travellers can also set up a Ticket 3.0 account. The airline has included ticket-related terms and conditions in the smart contract for the NFT.
According to the statement of Flybound CEO Mauricio Sanna, “With the launch of this service, we aim to make a positive impact on the aviation industry through innovation and application of blockchain technology. We believe it is our mission to offer a new phase of freedom to fly.” About the goals of the project, he added, “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.”
The Argentinean company is not the first airline TravelX has collaborated with. In April 2022, TravelX and the Spanish carrier Air Europa joined hands to provide a line of NFT tickets that were tied to exclusive benefits and occasions. In October 2022, the South American cryptocurrency exchange Lemon added TravelX to its platform, enabling users to purchase and sell plane tickets.
Customers can self-service important wallet operations with NFT, which in turn reduces the operational costs for the airline. About 60 airlines from across the world, as per reports, are also investigating potential uses for their NFT tickets. Such developments provide promise for Web3 as a young technology.