Blockchain-based travel distribution startup TravelX is partnering with Spanish airline Air Europa to release what it claims is the world’s first NFT flight ticket series, called NFTickets.
Owners who purchase NFTickets will get special access to an Air Europa flight to Miami Beach at the end of November, as well as perks and events ahead of Art Basel, which takes place in Miami Beach in December.
A series of NFTickets, in partnership with acclaimed artists, will be released every 14 days via auction platform travelxchange.com, with the first-ever available during a live auction on April 11.
TravelX says NFTickets function as traditional NFTs. When traded, transactions are recorded on the blockchain, and when ready to use, the owner can show the NFT and a matching flight ticket will be issued.
“The TravelX and Air Europa NFTickets will offer buyers an opportunity to hold a piece of travel industry history and participate in the first-ever blockchain-backed flight,” the company says in a statement.
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“It’s very exciting to give birth to a new kind of NFT, minted on Algorands carbon-negative blockchain,” says TravelX co-founder Facundo Diaz.
“We will blend the best of the traditional NFT, but add real-world application and experience. This provides a better flight ticket that travelers can easily manage and trade from their blockchain wallet, combined with a new kind of collectible art piece. We believe NFTickets will be the perfect fusion of art, travel and technology.”
Adds Bernardo Botella, global sales director at Air Europa: “Innovation is in our DNA, we have been pioneers in applying new technologies within our industry and it cannot be different with NFTs, which could be the next step in the travel industry.
“We are proud to be the first airline to adopt blockchain technology for inventory management and distribution. We’re excited to see where this could take travel as a whole and how it could improve customer experience.”
NFT flight tickets follow other endeavors in travel utilizing the technology. In January, Travala, one of PhocusWire’s Hot 25 Startups for 2022, launched an NFT-based travel rewards program.
That same month, Singapore-based LynKey announced an NFT-based platform for resorts and hotels to “tokenize all aspects of property development – purchases, leases, land use and related tourism entertainment – into an international blockchain-powered ecosystem.”
In March, Tiger Being launched a private travel club membership NFT in Asia.
TravelX raised $10 million in seed funding last month.