TravelX is a company specializing in providing solutions to optimize travel services using blockchain technology.
The program called Ticket 3.0 was announced on March 30. The NFT ticketing technology, built on the Algorand blockchain, allows passengers to rename, transfer or sell their NFTicket in a decentralized manner, without going through a ticket agent or any middlemen.
Flybondi said NFT tickets offer a more flexible experience, passengers can even purchase them in advance of their travel plans. On the other hand, the service also helps airlines streamline customer service costs and increase revenue from transaction fees.
TravelX Blockchain Director Facundo Martin Diaz said that users don’t have to pay a fee when buying tickets, but the company will charge a transaction fee of 2% for each assignment on the secondary market.
To purchase tickets, customers can visit Flybondi’s website and pay in fiat. After that, TravelX will be responsible for issuing the NFT ticket version. For management and storage, users need a Ticket 3.0 account. The relevant rules and terms are all integrated by Flybondi into the NFT smart contract.
Currently, there have been thousands of NFTickets minted on Algorand.