Argentina airline revolutionizing billion-$-aviation industry with NFTs issued on Algorand

• Flybondi airline has partnered with NFT ticketing company TravelX to issue NFT tickets to its passengers.
• Flybondi passengers can purchase their travel tickets over the official website by paying in fiat. Later, TravelX will issue a synchronized NFT ticket on top of the regular ticket.

Industries across different sectors and verticals have been exploring the use of non-fungible tokens (NFTs) and this time it’s the airline industry that has caught the NFT bug. Flybondi, an Argentinian low-cost airline has decided to integrate Web3 into its ticketing process by issuing e-tickets in the form of non-fungible tokens (NFTs).

Dubbed Ticket 3.0, the airline unveiled this new integration on Thursday, March 30. Ticket 3.0 is nothing but an expansion of the existing relationship with NFT ticketing company TravelX, launched last year in September 2022.

Interestingly, Flybondi has built its NFT ticketing technology atop the Algorand blockchain network. It allows passengers to change their names and even transfer/sell their “NFTickets” independently. Flybondi also added that Ticket 3.0 will offer its passengers a more flexible travel experience and buy in advance without having to disclose their travel plans or the identity of the travelers.

Additionally, passengers can also transfer, rename or gift their ticket in a simple and autonomous way using a modern self-management module. Mauricio Sana, CEO of Flybondi, explained the importance of this initiative adding:

With Ticket 3.0 our passengers will have greater flexibility and control over their trips because they will be able to transfer, rename or give away their tickets in a simple and autonomous way. 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.

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TravelX, NFTs, and Aviation

NFT ticketing company TravelX has reportedly invested over $7 million in bringing this technology used currently by Flybondi. Facundo Martin, the chief blockchain officer at TravelX said that the company doesn’t;t charge any fee whenever users initially purchase a ticket. However, it does receive a 2% transaction fee whenever trades are made in the secondary market. At the same time, the airline also gets a 2% cut.

Amid the recent integration, Flybondi passengers can purchase their travel tickets over the official website by paying in fiat. Later, TravelX will issue a synchronized NFT ticket on top of the regular ticket.

This is not the first time that TravelX is issuing NFT tickets for airlines. Last year in April 2022, TravelX partnered with Spanish airline Air Europa by launching a series of NFT tickets linked to events and special perks. In October 2022, Latin American crypto exchange Lemon also integrated TravelX onto its platform by allowing users to buy and sell airline tickets.

The good thing about TravelX is that they have kept their infrastructure open-ended. This allows other exchanges and marketplaces to use the TravelX API.

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