Low-cost carrier Flybondi has become the first airline to offer their tickets to customers as a non-fungible token (NFT).
The ground-breaking initiative known as Ticket 3.0, announced on Thursday, March 31, 2023, is designed to give passengers more autonomy when organising their travel with the airline.
The NFT ticket allows travellers to change the name of the ticket, give it away, or transfer it to another person.
Ticket 3.0 is administered with Flybondi’s existing partner, TravelX, which provides solutions to airlines in order to improve passenger experience.
This scheme hopes to offer a more personalized and convenient service by eliminating the usual restrictions surrounding ownership of tickets.
“With Ticket 3.0 our passengers will have greater flexibility and control over their trips because they will be able to transfer, rename or give away their tickets in a simple and autonomous way”, said Mauricio Sana, CEO of Flybondi. “With this launch we seek to generate a positive impact in the aviation industry through innovation and an application of blockchain technology.”
The CEO added: “Changing the rules of the game is never easy, but we know that it is our objective to evolve and offer our passengers a new stage of the freedom to fly.”
According to CoinDesk, the NFT ticketing technology is built on the Algorand blockchain.
In September 2023, TravelX chief blockchain officer Facundo Martin Diaz told CoinDesk that the company does not charge a fee when a passenger buys a ticket, but it does receive a 2% transaction fee when trades are made on the secondary market. Airlines also reportedly take a 2% cut.
Ticket 3.0 is now already in operation.