Air Europa, a renowned Spanish airline, has teamed up with blockchain company TravelX to provide the world’s first batch of non-fungible token (NFT) airline tickets. Users who purchase such memorabilia will be able to fly between Madrid and Miami on a special aircraft on November 29, 2022.
NFTickets is a component of TravelX’s platform and will be available for purchase via auctions the first of which took place at the beginning of April and will repeat every two weeks.
The tickets, according to TravelX, function similarly to standard non-fungible tokens, transactions are recorded on the blockchain when they are made and holders of the collectables will be given a flight ticket that corresponds to the items.
Buyers will be able to “hold a piece of travel industry history and participate in the first-ever blockchain-backed flight,” according to Air Europa and its partner. This initiative, according to Carlos Betancourt, the artist who designed the artwork, is an experiment with the borders of art and technology.
Facundo Diaz, Co-Founder of TravelX, lauded Algorand, the blockchain on which the tokens are minted, for the environmentally friendly ecosystem approach and additionally noted that Algo is completely carbon-neutral.
Photo by Marten Bjork