Flybondi started issuing flight tickets as NFTs on the Algorand blockchain.
Flybondi – a low-cost airline in Argentina – became the first in its field to launch flight tickets in the form of non-fungible tokens (NFTs).
The initiative, dubbed Ticket 3.0, is already available for clients willing to fly to domestic destinations.
Eliminating the Usual Restrictions
The company announced on its website that each purchased ticket will be issued as an NFT on the Algorand blockchain. The integration is an expansion of Flybondi’s existing partnership with TravelX.
Ticket 3.0 enables customers to change the name on the pass, give it away, or transfer it to another individual. As such, it removes the usual hurdles when one tries to change the ownership. Commenting on the development, CEO Mauricio Sana said:
“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.”
Flybondi’s effort comes at a time when the tourism sector attempts to get back on its feet after the COVID-19 global lockdown suspended much of transportation for years. Founded in 2016 and headquartered in Buenos Aires, the airline flies to 13 destinations. Apart from covering some famous local spots, it started operating flights between Argentina’s capital city and Rio de Janeiro in October 2019.
Crypto’s Relation With the Airline Sector
The cryptocurrency industry has already interacted with multiple airline companies, with Dubai’s Emirates being one example. The national carrier of the UAE launched NFTs and “exciting experiences in the Metaverse” for its clients and employees last spring. In addition, it revealed its plans to embrace bitcoin as a payment method.
One of Spain’s biggest airlines – Vueling – teamed up with BitPay several months later to allow crypto settlements, too. Its offering includes 13 digital assets, such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), and more.
BitPay’s Vice President of Marketing – Merrick Theobald – stated that Vueling “recognizes the potential of cryptocurrencies to transform the airline industry, making payments faster, more secure, and less expensive on a global scale.”