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The original was posted on /r/cryptocurrency by /u/gigabyteIO on 2023-12-28 19:41:36+00:00.
Original Title: Mexico's third-largest airline and eleventh-largest airline in North America, Viva Aerobus, just adopted the TravelX NFTicket platform, which converts airline tickets into NFTs that are transferable/tradable on peer 2 peer marketplaces. The future of ticketing, built on top of Algorand.
NFTickets break down:
NFTickets take flexibility to the next level.
Customers are now allowed to Rename, Transfer and Resell their ticket to anyone in the world in the most immediate way ever. While the airline automatically collects FEEs and revenue.
The NFTicket is a more flexible product and by that, increases the conversion rate and impulse purchase behavior.
In an era where customers prioritize ownership and flexibility, NFTicket is the natural evolution of the customer’s needs.
The evolution of the air ticket.
By decentralizing distribution, airlines enable their customers to take their tickets to their own networks and markets, enabling new use cases and a much bigger market. All this while the airline collects money for every transfer according to the rules predefined by them in the token’s Smart Contracts.
New social networks and channels appear every year. Airlines can be part of all of them by delegating the transferability of their product to their customers.
More brand exposition and more channels equal to more customers and a bigger market.
Thanks to descentralizing distribution a whole new world of use cases emerges.
- Self-Service Allotments
- Self-Service Corporate travelers management
- Revenue over fully sold flights
- Tickets as Gifts in the most automated way
- Groups and Influencers Reselling capabilities
- and much more…
NFTicket pipeline
NFticket is a totally automated product through which customers can self-service key processes in their wallets. This strongly impacts customer satisfaction but also the reduction of Operational costs for the airline.
Blockchain technology can provide a more secure way to record transactions. By using distributed ledgers, airlines can ensure that each ticket sold is unique and cannot be duplicated or sold without the pre-established rules. This can increase transparency and trust in the ticketing process.
It can also provide a secure and decentralized way of verifying identity, reducing the risk of identity theft and fraud in the travel industry. This can also streamline the check-in process and reduce wait times at airports and hotels.
Lastly, blockchain technology offers a tamper-proof and transparent way to record transactions. Airlines can easily track the path of an NFTicket through any existing channels warranting that no rule was invalidated. This way, the travel ecosystem can be expanded with confidence and control for the issuer supplier.
Post announcing Viva Aerobus partnership:
Aeroenlaces Nacionales, S.A. de C.V., trading as Viva Aerobus, is a major Mexican low-cost airline headquartered at Monterrey International Airport, in Apodaca, Nuevo Leon, Mexico. Meassured by passenger numbers, it is Mexico´s third-largest airline and eleventh-largest airline in North America, offering more than 160 routes in more than 50 destinations serving Mexico, the United States, Central and South America.
This is absolutely huge for the cryptocurrency industry and adds a much needed real world use case for NFTs. In my opinion, this is the future of ticketing in every industry, not just airlines.
