NFT Marketplace TravelX Launches With Tickets From Low-Cost Argentinian Airline Flybondi

TravelX, a marketplace for tokenized travel products, went live on Wednesday with the benefaction of inventory of the low-cost Argentine airline Flybondi.

The manifesto presently offers 2.5 million tickets, which are computerized when acquired and transformed into NFTs called NFTickets, TravelX Chief Blockchain Officer Facundo Martin Diaz told CoinDesk.

After obtaining an NFTicket, a customer can auction, sell, transfer, gift, or exchange them through an associate to associate system on TravelX, Diaz said.

To buy tickets on the platform, users can fund the TravelX wallet — which also serves to control the NFTickets — or pay via BinancePay. Diaz added that the company is in talks to amalgamate other exchanges.

TravelX is built on the Algorand blockchain and made its framework open so that other firms — such as exchanges or marketplaces — can use TravelX’s APIs to build their own marketplaces.

Within six to 12 months, the platform desires to merge the inventory of more than 60 airlines, with a special focus on Latin American and European operators. In 2023, Diaz said the company will pivot more on the U.S. and Middle East.

In November, the firm closed a $11 million seed round led by Borderless Capital, said Diaz, who stated that it plans to elevate a Series A funding round early 2023. The company has 85 employees.

TravelX was founded by Diaz and Juan Pablo Lafosse, who formerly founded Almundo.com, a tourism marketplace sold to CVC Corporation for $75 million in 2019.

As of now, the platform allows transactions using the USDC stablecoin and has no aims to incorporate other stablecoins, although it could finally integrate coins developed by airlines, Diaz added.

TravelX charges no fee when a user purchases a ticket on the platform, but it does receive 2% when a transaction is made on the platform’s peer-to-peer secondary market, while airlines keep another 2%, Diaz said.