Launched in partnership with TravelX, the NFT tech allows Flybondi customers to transfer, rename or sell their plane tickets. Rose Dykins reports
A milestone for the airline industry, Argentinian airline Flybondi is issuing electronic plane tickets as non-fungible tokens (NFTs).
The low-cost carrier has partnered with NFT ticketing company TravelX, to offer NFT plane tickets, which allow passengers to change the name on tickets, transfer or sell them. This peer-to-peer distribution of plane tickets could represent a step change in the way airlines serve their customers.
Travellers buy the NFT tickets through Flybondi’s website using regular currency. TravelX then issues an NFT ticket in addition to their original ticket, which exists on the Algorand blockchain (the technology that the NFT ticket technology is built around).
The two tickets are synchronised to carry matching data, so they have the same seat number, fare rules and itinerary. Flybondi can then trace the NFT ticket even if it is renamed, resold or transferred to another person up to 72 hours before departure. Flybondi and TravelX receive a transaction fee each time tickets are exchanged to another owner.
In September 2022, Flybondi launched its its NFTicket Marketplace, making regular plane tickets available for NFT tokenisation, which resulted in 1 per cent of all Flybondi tickets sold monthly becoming tokenised.
Since April 2023, every ticket the airline sells is tokenised and built directly into the infrastructure of Flybondi’s online platform, according to TravelX.
Mauricio Sana, Flybondi’s CEO, says the airline’s move to NFT tickets: “Demonstrates our commitment to innovation and providing our customers with the best possible experience. We’re excited to be at the forefront of this change in the travel industry.”
Juan Pablo Lafosse, CEO of TravelX, says: “Our partnership with Flybondi and the integration of our NFTicket technology on the Algorand blockchain exemplifies the enormous potential for innovation within the travel industry. We’re eager to continue driving this transformation alongside the other airlines worldwide we are already working with.”
TravelX is reported in discussion with more than 60 other airlines about the possibility of introducing NFTickets to their offering.
In 2022, the tech company partnered with Air Europa to release the first NFTickets for a series of flights. Those who purchased the tickets gained exclusive access to an Air Europa flight to Miami Beach.
The NFT tickets were sold over online auction ahead of the city’s annual Art Basel art show, created in collaboration with acclaimed artists -and the first NFT ticket sold for US$1 million.