April 4, 2023
By Sharan Kaur Phillora
According to Flybondi, non-flexible ticketing options provide travelers with a more adaptable travel experience and even enable them to purchase tickets in advance without determining their itinerary.
Here’s what we know:
Last September, Flybondi, a low-cost Argentine airline, announced that it would start issuing tickets as non-fungible tokens (NFTs), broadening the possibilities of what customers can do with them.
Flybondi highlights that the NFT ticket offers a more adaptable travel experience, as passengers can buy tickets ahead of time without specifying their travel details or the travelers’ identities. This, in turn, allows the airline to minimize customer service expenses and boost its revenue from trading fees.
This solution is developed by TravelX, a blockchain tech development company, and will allow customers to trade, transfer, and sell tickets, changing the names of the users up to three days before the flight.
Tickets for travel may be purchased using fiat money through the Flybondi website, while TravelX provides NFT tickets synced on normal e-tickets. Passengers have the option of utilizing either currency. After that, passengers may register for a Ticket 3.0 account on Flybondi to control, organize, and save their NFTs.
TravelX’s Chief Blockchain Officer, Facundo Martin Diaz, explained that while there is no fee for the initial ticket purchase, the company collects a 2% transaction fee when NFTickets are traded on the secondary market. Airlines also receive a 2% share of the fees.
The Chief Executive Officer of the Argentine Airlines Flybondi, Mauricio Sana, stated in a news release that the company’s goal with this launch is to “make a positive impact in the aviation industry through innovation and application of blockchain technology.” “It’s never easy to change the rules of the game, but we know that our end goal is to grow and give our passengers a new level of freedom of flight.”
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.