TravelX announced on Monday that it has partnered with Air Europa to release the world’s first non-fungible token (NFT) flight ticket collections or “NFTickets.” The owner can issue a matching flight ticket by presenting the NFT, the company said.
TravelX claims to be building the travel industry’s first blockchain-based distribution protocol. While Air Europa is the third largest Spanish airline flying to over 60 destinations around the globe.
The announcement clarified that with the purchase of the NFTs titled “The Art as the Destination”, owners of the tickets will get access to a special Air Europa flight to Miami Beach this November 29 and the premier art show of the Americas taking place this December in Miami.
The NFTickets were created in a series of 10 in partnership with various artists, and they will be released every 14 days through TravelX’s auction platform. The auction went live on April 11.
“Innovation is in our DNA, we have been pioneers in applying new technologies within our industry, and it can not be different with NFTs, which could be the next step in the travel industry,” said Bernardo Botella, Global Sales Director at Air Europa. “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.”
TravelX said that similar to traditional NFTs, NFTickets are individually rare and are recorded on the blockchain.
The company clarified that when an owner can issue a matching flight ticket by presenting the NFT.
The curator of the NFTicket series is Ximena Casinos, who commissioned acclaimed multi-disciplinary artist Carlos Bentancourt for the first piece.
The NFTs were minted on Algorands carbon-negative blockchain technology, which is energy-efficient and environment-friendly.
“It’s very exciting to give birth to a new kind of NFT, minted on Algorands carbon-negative blockchain,” said Facundo Diaz, Co-Founder of TravelX. “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 collectable art piece. We believe NFTickets will be the perfect fusion of art, travel, and technology.”
Currently, TravelX is working on building a blockchain-based distribution protocol designed to create a more secure, decentralized, frictionless, transparent, and efficient travel industry.
This article was originally published on blockchain.news