TravelX and Flybondi Launch Ticket 3.0

Flybondi, a low-cost airline based in Argentina, is set to revolutionize its ticketing process by integrating Web3 technology and issuing e-tickets as non-fungible tokens (NFTs). Dubbed Ticket 3.0, this new integration builds on Flybondi’s existing relationship with NFT ticketing company TravelX, which launched in September 2022. By leveraging the Algorand blockchain, the NFT ticketing technology enables passengers to sell, transfer or change the name on their NFTickets independently. This not only provides passengers with a more flexible travel experience but also enables Flybondi to reduce customer service costs and increase its revenue from trading fees.

Flybondi CEO Mauricio Sana stated in a press release that the launch of Ticket 3.0 aims to generate a positive impact in the aviation industry through innovation and blockchain technology. The airline’s use of NFTs allows passengers to buy tickets in advance without having to define their travel plans or the names of the travelers. The NFT’s smart contract also integrates ticket-related rules and conditions, adding another layer of convenience for passengers.

Passengers can purchase travel tickets on the Flybondi website using fiat currency, and TravelX will then issue a synchronized NFT ticket on top of the regular e-ticket. Passengers can manage and store their NFTs through Flybondi’s Ticket 3.0 account. TravelX Chief Blockchain Officer Facundo Martin Diaz revealed that the company does not charge a fee when users initially purchase a ticket. However, a 2% transaction fee is applied when trades are made on the secondary market, with airlines also receiving a 2% cut.

TravelX is open to partnerships with other exchanges or marketplaces through its open infrastructure and API. The company has reported that over 60 airlines worldwide are exploring the use cases of its NFT tickets. In April 2022, TravelX partnered with Spanish airline Air Europa to launch a series of NFT tickets linked to special perks and events. Latin American crypto exchange Lemon integrated TravelX onto its platform in October 2022, enabling users to buy and sell airline tickets.

By embracing blockchain technology and integrating NFTs into its ticketing process, Flybondi is leading the way in the aviation industry. The flexibility and convenience offered by Ticket 3.0 are sure to resonate with passengers, and it will be interesting to see how other airlines respond to this innovative new approach to ticketing.