TravelX, the business developing the travel industry’s blockchain-based distribution protocol, today announced a partnership with Kiu System Solutions via Kiu PSS, an airline commercialization solution that includes tools for managing inventories, bookings, and tickets.
As a result, 73 airlines will be able to tokenize and distribute inventory as NFTs via the blockchain ecosystem.
“At Kiu, we are focused on developing innovative and efficient solutions. This has been possible due to our vast experience in the industry and desire to provide new and better technologies to our clients and passengers. Through this partnership, we are excited to provide a new and innovative sales channel to our customers,” commented Alberto Desimone, CEO and co-founder of Kiu.
By tokenizing and internationally distributing inventory as NFTickets, the strategic collaboration enables airlines to minimize distribution and transaction costs while increasing revenue and enhancing the traveler experience.
NFTickets can be transferred between blockchain network participants in accordance with smart contracts or specifications established by the service provider, producing new revenue streams.
Furthermore, with blockchain transactions, refunds and exchanges are quick and managed by automatically executed smart contracts, saving money and time involved with customer care.
“We are very excited to be a part of the industry’s first integration between a blockchain distribution protocol and PSS with the global reach of Kiu. Through this, more airlines will be able to experience the benefits that tokenization and blockchain provide in terms of cost efficiencies and revenue generation,” adds Juan Pablo Lafosse, CEO and co-founder of TravelX. “We are proud that our partnership makes this all possible for airlines without the need for additional investments or technological developments on their side, as tokenizing inventory through blockchain is as easy as logging on and updating their agreement with Kiu.”
TravelX was born in 2021 to reimagine the travel industry and speed up its adaptation to Web3. One of TravelX’s most innovative propositions is the tokenization of E-tickets, evolving them into NFTickets.
Last month, TravelX partnered with Air Europa to release the world’s first NFT flight ticket series dubbed “The Art as the Destination.” Their first NFT air ticket auction ended with a total bid of USD 1,002,000.