Argentinian airline becomes first company to offer tickets as NFTs on Algorand
Flybondi – a low-cost airline in Argentina – has become the first in its sector to launch flight tickets in the form of non-fungible tokens (NFTs).
The initiative, named Ticket 3.0, is already available to customers looking to fly to domestic destinations.
lifting general restrictions
The company announced on its website that each purchased ticket will be issued as an NFT on the Algorand blockchain. This integration is an extension of Flybondy’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 person. As such, it removes the usual barriers when one tries to change ownership. Commenting on the development, CEO Mauricio Sanna said:
“With Tickets 3.0, our passengers will have more flexibility and control over their journeys as they will be able to transfer, rename or give away their tickets in a simple and autonomous way.
With this launch, we aim to generate a positive impact in the aviation industry through innovation and application of blockchain technology. Changing the rules of the game is never easy, but we know that we aim to evolve and provide our passengers with a new level of freedom to fly.
Flybondy’s endeavor comes at a time when the tourism sector is attempting to get back on its feet following the COVID-19 global lockdown. Established in 2016 and headquartered in Buenos Aires, the airline flies to 13 destinations. In addition to covering some well-known local spots, it launched flights between Argentina’s capital city and Rio de Janeiro in October 2019.
Crypto ties to the airline sector
The crypto industry is already in talks with several airlines, with Emirates in Dubai being one example. The UAE’s national carrier launched NFTs and “exciting experiences in the metaverse” for its customers and employees last spring. Furthermore, it revealed its plans to adopt bitcoin as a payment method.
One of Spain’s largest airlines – Vueling – teamed up with Bitpay several months later to allow crypto settlement. Its offering includes 13 digital assets such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), and more.
Merrick Theobald, BitPay’s vice president of marketing, said that Vueling “recognizes the potential of cryptocurrencies to transform the airline industry, making payments faster, more secure and less expensive globally.”