LCC in Argentina converts tickets to NFT | coindesk JAPAN | Coindesk Japan

Argentinian low-cost carrier (LCC) Flybondi will issue electronic tickets as NFTs.

The initiative, announced on March 30, is dubbed “Ticket 3.0,” and expands on a partnership with NFT ticket company TravelX that began in September 2022. Built on the Algorand blockchain, NFT ticketing technology allows passengers to rename, transfer and sell NFT tickets on their own.

Flybondi says NFT tickets “provide a more flexible travel experience that can be pre-purchased without defining the itinerary or who the traveler is.” On the other hand, the company can reduce the cost of customer service and expect income from transaction fees.

Facundo Martin Diaz, Chief Blockchain Officer of TravelX, announced in September 2022 that users will not be charged a fee when they first purchase an airline ticket, but in the secondary market (secondary market) He told CoinDesk that he would receive a 2% transaction fee when traded. Airlines will also collect 2%.

Users purchase tickets in fiat currency from Flybondi’s website, and TravelX issues NFT tickets synchronized with regular electronic tickets. Travelers can then manage and store their NFTs through Flybondi by creating a Ticket 3.0 account. Rules and conditions related to airline tickets are integrated into smart contracts.

“With the launch of this service, we aim to have a positive impact on the aviation industry through the application of innovation and blockchain technology.” We recognize that it is our purpose to offer a new stage of freedom to fly,” Flybondi CEO Mauricio Sana said in a press release.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Flybondi
｜Original: Argentinian Airline Issues Every Ticket as an NFT