Argentinian airline Flybondi has partnered with tech startup TravelX to offer NFT-based tickets to customers using TravelX’s NFTicket technology, built on the Algorand blockchain. This move allows ticket holders to make name changes on their reservations or transfer tickets to others, providing increased flexibility and efficiency.
The NFTicket functionality is integrated directly into Flybondi’s online platform, with customers purchasing tickets using traditional payment methods before receiving an email with a link to activate their Ticket 3.0, the user-facing name for the NFTicket technology. The system avoids crypto- and blockchain-related branding to prevent alienating users unfamiliar with the technology.
In the coming weeks, Flybondi customers will be able to resell their NFT tickets via Ticket 3.0 accounts on a secondary marketplace built by TravelX, with the airline receiving a portion of the price increase from each resale transaction. TravelX has met with around 70 airlines worldwide to discuss the NFTicket technology and expects most low-cost carriers to adopt the model within the next 12 to 18 months.
However, bureaucracy and concerns about revenue loss from penalties for no-shows may be holding back larger legacy airlines. TravelX believes that once these airlines recognize the benefits of offering customers a better product, they will see value not only for the customers but also for the airlines themselves.