Flybondi, the budget airline from Argentina, has launched a unique project called Ticket 3.0, which involves issuing tickets in the form of non-fungible tokens (NFT).
By utilizing Algorand blockchain technology, passengers can now transfer, exchange or sell their tickets as per their convenience. The blockchain-based solution for ticketing was developed by Travelx.
According to Mauricio Sana, Flybondi’s CEO, the project’s aim is to introduce innovation and revolutionize the aviation industry positively.
The NFT ticketing system offers passengers a more flexible travel experience and eliminates the need to define their travel plans in advance.
This, in turn, helps Flybondi to reduce customer service costs while increasing revenue from trading commissions.
The tickets can be purchased with USDC through the Binance Pay payment service, and the airline is planning to expand its payment options by increasing the list of stablecoins.
Flybondi hopes that its NFT ticketing project will be successful, leading other companies to follow suit.
Emirates, the Dubai-based airline, has also shown interest in collectible tokens and even started accepting Bitcoin as payment in May 2022.
Etihad Airways started using blockchain technology to manage data and track baggage without involving third-party operators a few years ago.