FIRST-EVER FLIGHT 'NFTICKET' SELLS FOR $1 MILLION USDC IN LIVE AUCTION

Air Europa becomes first airline to mint a plane ticket on the Algorand blockchain via TravelX, making it most valuable ticket sold in commercial aviation history

MIAMI, April 20, 2022 /PRNewswire/ -- TravelX, the company building the travel industry's first blockchain-based distribution protocol, and Air Europa, the third-largest Spanish airline flying to over 60 destinations around the world, announced the close of the first NFT (non-fungible token) Flight Ticket, or "NFTicket," auction for $1,002,000 USDC.

"We are very happy with the results of this first experience trading a NFTicket. We see this as a bet on the future, as it allows us to apply a layer of service experience that transforms our customer offering," explains Valentín Lago, CEO of Air Europa. "We hope it will become a quality leap forward for all users."

TravelX was born to reimagine the travel industry and accelerate its adaptation to Web3, by tokenizing travel inventory into NFTs that can be exchanged through the blockchain ecosystem along with digital stablecoins. A simple integration will enable a whole new world of use cases, allowing travel suppliers to enhance and make their inventory distribution more efficient and profitable.

"We found that blockchain technology had reached a maturity point where it could help travelers to have a more frictionless experience and increase profitability for travel suppliers," said Juan Pablo Lafosse, co-founder at TravelX. "The excitement and value generated with this first ever NFTicket is recognition and validation of a real-world application for NFTs. We believe this could become the new standard for the travel industry."

TravelX leveraged Algorand, the world's most decentralized, scalable and secure blockchain infrastructure, to mint the NFTicket. Algorand is a fully carbon-negative blockchain, designed from the beginning for minimal environmental impact.

"Sustainability has been a core component of Algorand since its inception," said Algorand founder Silvio Micali. "We are excited to provide the blockchain infrastructure to enable TravelX to change the world of travel in an environmentally friendly way."

To celebrate, TravelX hosted an invite-only event at the Eiffel Tower, where the final bid for the first-ever NFTicket was revealed. For more information, visit www.travelx.io.

About TravelX

Led by a team of tech and travel industry veterans with a track record of pioneering change, TravelX is building a blockchain-based distribution protocol developed to create a more secure, decentralized, frictionless, transparent, and efficient travel industry.

SOURCE TravelX