NFTs are revolutionizing many sectors such as art, music and even horse racing! The turn of aeronautics and plane tickets. Thus, the European company Air Europa, the third largest Spanish airline, announced the launch of NFTickets. These tickets will allow their lucky chosen ones to have the opportunity to travel in business class on a flight to Miami (United States). But why would we buy an NFTickets rather than a classic plane ticket to travel? What are the advantages of this new ticket?
The impressive auction of these NFT plane tickets
The Spanish airline, Air Europa, has partnered with the company TravelX in order to issue this collection of NFTickets. This collection, entitled “ The Art as the Destination ”, is intended to be above all a work of art in a limited number with only 10 copies. The auction on April 11th generated a lot of excitement on the TravelX platform. Indeed, this first collection raised more than $ 1 million! This NFTicket allows its owner to access a special Air Europa flight to Miami Beach on November 29, 2022. It also grants him benefits and access to events, such as Art Basel Miami Beach, the international contemporary art fair, which will take place next December. Moreover, the success of the collection can be explained by the fame of its designer, the Puerto Rican artist Carlos Betancourt. Betancourt is a famous artist. His works are notably exhibited at the Metropolitan Museum of Art in New York.
An upheaval for the airline sector
Even if this first initiative remains marginal and small-scale, can we envisage a revolution in the aviation sector thanks to NFTs? In any case, this is the side that the TravelX company takes. This company produces and markets a blockchain-based distribution protocol in order to allow a company to “tokenize” its airline tickets. The Covid-19 pandemic has severely impacted the global travel industry. The pandemic has revealed that this sector urgently needs to reinvent itself by adopting new technologies to respond quickly and efficiently to market challenges (such as travel insurance, the possibility of flight cancellation, CtoC resale of these tickets). Thus, TravelXc aspires to accelerate the adoption of Web3 within the travel industry. Their new blockchain infrastructure will benefit both customers and airlines. Indeed, the blockchain will be able to allow travelers to access better products and services, with clear conditions, and tools to freely organize their travel assets. In fine, it will also reduce distribution costs and supplier inefficiencies, improving the profitability of airlines.
NFTs are now surging in the travel industry. This first sale of NFTickets is promising. Another one is planned between the 1er june and September 2nd. We can imagine that in the future, “tokenized” air tickets will be mint on the blockchain. They will ensure authenticity (and therefore avoid any fraud or falsification) and traceability (during CtoC resale of air tickets, a market that is too undeveloped nowadays). We are eager to discover the next disruptions in the air transport sector by NFTs and blockchain!
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Student passionate about entrepreneurship and fascinated by the technologies behind cryptos! Yes, I am convinced that the two are intimately linked: blockchain and NFTs are revolutionizing many sectors and present unprecedented opportunities.