Argentina Airlines applies NFT technology to issue tickets

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2022-09-26 20:49:42

Flybondi, an Argentinian low-cost airline, is introducing blockchain technology in its operations.

The company announced recently it will begin issuing tickets as non-fungible tokens (NFTs), expanding the possibilities of what customers can do with them. For example, users will be able to sell or transfer tokens to other travelers up to three days before an applicable flight.

Flybondi issues NFT tickets

Flybondi Airlines offers NFT ticket

Many companies are using NFT as part of their business model because of the benefits and advantages that NFT can bring. Flybondi, an Argentinian low-cost airline, has also decided to use blockchain technology in its operations, announcing it will issue tickets in the form of a non-fungible token (NFT), expanding the range of What customers can do.

The solution, developed by Travelx, a blockchain technology development company, will allow customers to trade, transfer and sell tickets, changing the user’s name up to three days before the flight.

The alliance has also introduced the ability to purchase these tickets with Binance Pay with stablecoins, including USDC. However, Travelx has announced that other stablecoins will be included to provide more possibilities for customers.

Regarding the benefits that users can enjoy with the change, Travelx said:

This innovation in the industry will allow more flexibility for travelers who can anticipate their travel plans with access to better rates without the risks associated with buying tickets in advance.

Web3 introduces secondary market

The inclusion of Web3 and NFT technologies in such activities opens up secondary markets for customers. Regarding the use of these new technologies, Travelx said the move represents a new phase “where the travel industry and the new web3 world come together to provide a much more flexible experience for travellers, while creating new revenue streams and drastically reducing transaction costs for airlines. “

According to Flybondi’s statement, the company was one of the pioneers to implement this type of functionality and expects others to follow suit if this test is successful.

Projects using NFT as part of their operations have multiplied this year. On September 8, the European Union announced plans to use NFTs to protect intellectual property and combat counterfeiting. In August, a report published by Grand View Research, a market research firm, estimated the NFT market to grow to reach $200 billion by 2030.

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