Spanish airline Air Europa, founded in 1986, is launching the first-ever airline tickets in the form of non-fungible tokens (NFT) on Algorand. In collaboration with TravelX, which offers a blockchain-based distribution protocol for the travel industry, Air Europa has announced that airline tickets in the form of NFTs will be available for sale on TravelX’s platform.
This is a world first – proving once again the interest in blockchain technologies and cryptos by more and more players in the economy. Shortly after, other “big names” in the airline industry revealed their intention to join the metaverse as well as the world of cryptos/NFTs. Indeed, the famous airline Emirates is going to follow the steps of its competitor. At the same time, Freddy Borges, director of the Simon Bolivar International Airport in Venezuela, wants to accept payments in cryptos for the purchase of airline tickets. According to him, this could have the effect of boosting the country’s economy, assuming that this measure would bring more visitors.
.@AirEuropa and @travelx__ have joined forces to release the world’s first #NFT flight ticket series on #Algorand! Created by renowned artists, the #NFTicket will give access to a special Air Europa flight to Miami this November.— Algorand (@Algorand) April 12, 2022
Join the LIVE auction 👉 https://t.co/OoZ0nZbUnE pic.twitter.com/55Kozykbgr
“Just as Russian passengers arrived in Margarita, they will also come to La Guaira, through Conviasa, so we must advance in these new economic and technological systems accessible”Freddy Borges, director of the Simon Bolivar International Airport in Venezuela.
Airline tickets in the form of NFTs, how does it work?
TravelX reveals some details about the project. According to the company, the non-fungible tokens (NFTs) representing the buyer’s plane ticket will be mint on Algorand. Indeed, it explains that the operation will be identical to how traditional NFTs work: the transaction made by the buyer will be recorded and registered on the blockchain, and then holders will be able to present the NFTs in order to receive a corresponding airline ticket.
“This initiative will give buyers the opportunity to hold a piece of travel industry history and participate in the first ever blockchain-supported flight.”Air Europa.
With that in mind, a first-ever flight from Madrid to Miami is scheduled for buyers on November 29, 2022.
“We’re going to mix the best of traditional NFT, but add an app and a real-world experience. This provides a better airline ticket that travelers can easily manage and redeem from their blockchain wallet, combined with a new type of collectible art piece. We believe that NFTickets will be the perfect fusion of art, travel and technology.”Facundo Martin Diaz, co-founder of the TravelX platform
The artist in charge of NFT, Carlos Betancourt, explained that this project is an “experiment with the boundaries of art and technology.”
“The animated artwork is inspired by the concepts of space, magical realms and travel experiences, as well as the memories and feelings that these experiences evoke.”Carlos Betancourt, NFT artist author
For the purchase of tickets, an auction is scheduled every two weeks from the date of April 11, 2022.
No longer intended solely to authenticate digital underlyings, this advance demonstrates a new use case for NFTs.