Argentine Airline Flybondi to Adopt NFT Technology for Ticket Issuance – News Bitcoin News

Flybondi is an Argentine low-cost airline that uses blockchain technology in its operations. Recently, Flybondi announced that it would begin issuing tickets in non-fungible tokens. This will allow customers to do more with the NFTs. Tokens will allow users to transfer or sell them to others travelers, up to three business days prior to the relevant flight.

Flybondi to Issue NFT Tickets

NFTs have been embraced by more companies due to their perceived advantages and benefits. Flybondi (a low-cost Argentine airline) has announced that it will use blockchain technology in its operations and issue tickets as nonfungible tokens. This expands the customer’s options.

Travelx, a company that develops blockchain-based tech, created the solution. It allows customers to transfer, trade and sell their tickets. The names can be changed up to three business days prior to departure.

These tickets can also be purchased using Binance Pay and stablecoins. Travelx stated that additional stablecoins would be added to offer customers more options.

Travelx spoke out about potential benefits for users of the changes:

The industry’s latest innovation will give travelers more flexibility and allow them to predict their travel plans. They will also be able access better rates, without taking on the financial risks of buying tickets far in advance.

Secondary Markets Launched By Web3

These operations will now include Web3 tech as well as NFTs. This will allow customers to access secondary markets. About the use of these new technologies, Travelx stated the move brings a new phase “where the travel industry and the world of the new web3 come together to provide a much more flexible experience for travelers, while generating new sources of revenue and a strong reduction in transactional costs for airlines.”

According to Flybondi’s statements, the company is one of the pioneer organizations implementing this kind of functionality and expects others to follow if this experiment proves successful.

NFTs have been used in a growing number of projects this year. NFTs were announced by the European Union on September 8. Grand View Research published a report in August that estimated that the NFT market would reach $200 billion by 2030.

In this story, tags
Cost reduction for Argentina’s airline, flybondi and nft Secondary Markets tokenization, travelx and Web3

What do you think about Flybondi’s issuing of airline tickets as NFTs? Leave a comment below.

Sergio Goschenko

Sergio is a Venezuelan cryptocurrency journalist. His entry into the cryptocurrency world in December 2017 was when it saw a price surge, and he describes himself as being late to this game. His background is in computer engineering, but he also lives in Venezuela and was impacted at the social level by the crypto boom. He offers an alternative perspective on the success of cryptocurrency and the benefits it has for the underbanked.

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