TravelX, which is building a travel industry blockchain-based distribution protocol, has joined up with Spanish airline Europa in order to release a series of non-fungible tokens (NFTs) based on flight tickets, according to a Monday (April 11) press release.
With the purchase of “NFTickets,” owners will get access to a special Air Europa flight to Miami Beach on Nov. 29 this year, along with additional perks and events ahead of an art show of the Americas taking place there in December.
The series of NFTickets will be numbered at 10, and will be released every 14 days through the auction platform travelxchange.com. The first one will be available as of April 11 at 4 pm EST, per the release.
The NFTickets act like traditional NFTs, with transactions recorded on the blockchain. According to the release, users can present it to gain a matching flight ticket.
The NFTicket series called “The Art as in the Destination” will be curated by Ximena Caminos, who commissioned multi-disciplinary artist Carlos Betancourt for the first one. The release noted Betancourt’s artworks “explore issues of memory, and his own experiences, while also dwelling in issues of nature, the environment and matters of beauty, identity and communication.”
“Innovation is in our DNA, we have technologies been pioneers in applying new 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.”
PYMNTS wrote that TravelX recently raised $10 million in seed funding, which it plans to use to tokenize inventory in the travel space and look at new ways of distribution.
Read more: Blockchain-Based Travel Startup TravelX Raises $10M in Seed Funding
CEO Juan Pablo Lafosse said the company was trying to combat various issues like friction and inefficiency in travel distribution.