NFTs as Travel Tickets: NFTs are transforming the way we travel
Non-fungible tokens (NFTs) have revolutionized the tech world, with their ability to easily distribute distinct and authentic tokens that can be used for virtually anything. In particular, the tourism (travel) sector has experienced a surge in NFT usage.
NFTs can be implemented in multiple sectors within the travel industry such as Booking tickets, Hotel reservations, Brand loyalty, awareness, and the whole travel experience. As travel is on the brink of transformation, let’s have a look at how NFTs will affect our global expedition!
Airline Ticket Booking
Offline bookings are often more time-consuming and stressful than booking online. Nevertheless, both can be inefficient, particularly in peak holiday seasons. Passengers may experience delays or find themselves stranded due to downtime or overcrowding issues.
To ensure a convenient, stress-free journey and booking process, NFTs (Non-Fungible Tokens) offer an exciting new solution. Each ticket is linked to a specific seat, with its rarity determined by the class. Be it business, economy, premium economy or first class. This way the air ticket can be minted and given to the passengers.
Airlines have already begun adopting NFTs for flight tickets, which increases consumer options and increases revenue for airlines. Travelx, a blockchain development company, partnered with Flybondi, an economic airline based in Argentina, issues NFT tickets. Since every transaction gets recorded on the blockchain, ticket owners have the option to trade, transfer or even sell their tickets.
Travala is yet another online travel agency where you can book flights with more than 600 airlines using crypto payments. The company has its own utility NFT called the “Travel Tiger”. A 1000-piece collection that comes with perks such as luxurious stays, VIP access and much more.
You can use NFTs to reserve hotel rooms or tables in a restaurant. You can plan all of these activities prior to your travel dates to carry them out smoothly. It also has the option to sell your reservations in case, one has change of plans.
One such example is of “Dream Hollywood Hotel”. It is one of the top venues in Los Angeles, California. The hotel launched its first VIP membership program called the “Social Club”, which individuals can access through a limited edition NFT collection. Apart from the discounts, other benefits of the NFT includes, Exclusive Gym access, Private Events, Expert Concierge, Lincoln Luxury house cars and much more.
Proof of Travel
NFTs offer travellers an interesting way to record their travels; they can receive a digital souvenir if they visit a specific physical landmark. This helps bridge the gap between the real and virtual, allowing landowners, Restaurants, events handlers and others to transfer something from the physical world into its digital counterpart for people to engage with. As such, it’s a great way for these entities to reward those that interact with them.
One such example is of Pebble Tracker. An hardware that can store real-world data such as location, weather, motion, and light. Signed digital records of this data are assigned to a decentralized identity, which allows users to own and control the data exclusively.
In April 2021, IoTeX partnered with Travala to explore ways to use Pebble Tracker to record travellers’ trips on the blockchain; creating new opportunities like decentralized travel logs, travel competitions and location-based NFTs via proof of travel. Pebble Tracker offers an unalterable method of proving user’s presence at certain places at certain times.
Apart from these, there are multiple application and use cases of how implementations of NFTs in specific sector will play an important role in the coming future. Such example as the creation and selling of NFTs for ecological and wild animal conservation. Creating awareness in this subject is an important step towards saving several animals from extinction. In addition, this initiative can protect endangered species of animals from poachers and extinction.
If NFTs’ rapid adoption is any indication of their future use, there is plenty of potential on the horizon. Top travelling and hospitality companies have started implementing the use cases of NFT in their sector. This shows that the travel industry is ready to promote this and gain more profit in the early stage. This shows that NFT is a sector worth investing and more and more industries will embrace this in the coming future.
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