Leveraging NFTs to improve customer experience - Flybondi

gm, travelers. ??

More often than not, people need help understanding the transformative benefits NFTs can provide to businesses.

We know about the immediate applications of digital ownership, especially in the art industry.

Some even argue NFTs are but mere JPGs one could steal easily #rightclicksaveas.

Well, hold on to your seat; we are flying to new lands.

In this week’s newsletter, Flybondi is under the spotlight. ??

Let us bear in mind that NFTs boast three key fundamental features; traceability, immutability, and uniqueness - this is important for what’s next.

Let’s take on a journey on the blockchain. ??

Leveraging NFTs to improve customer experience

WHAT

The Argentinian low-cost airline Flybondi recently announced they would provide tickets as NFTs.

The company stated it intended to leverage digital ownership to boost efficiency and security regarding ticket management.

To generate additional revenues and cut client service costs, partnering with NFT ticketing company TravelX in September 2022, Flybondi officializes the launch of its platform “Ticket3.0”.

WHO

This project targets the company’s customer base, i.e., low-budget young travelers.

Given the young audience, it is safe to assume they will accept more advanced and innovative digital solutions that could improve their overall experience.

HOW

The airline company will provide NFT flight tickets - the “NFT twin” of the actual ticket if you will - along with the standard e-tickets.

At the moment of purchase, both standard and NFT tickets will be issued automatically on the Algorand blockchain.

However, to receive the “NFTicket”, customers must register on the Ticket 3.0 platform with their email.

It is still being determined whether clients need a wallet during onboarding or if the company holds a custodial wallet.

Flybondi expects to simplify customer info changes, ticket transfers, and sales thanks to its initiative.

For each transfer/resale of the “NFTicket”, the company will take a 2% fee on each sale on the secondary market.

WHY

NFT projects usually target a niche of wealthy young adults and Web3 aficionados, where NFTs mainly serve as a tool to foster exclusiveness and fuel FOMO.

For example, Ticketmaster has recently enabled artists to offer token-gated ticket sales.

Big names such as Snoop Dogg already gave out NFTs to their audience for some iconic concerts - which will grant holders additional benefits further down the line.

In other words, tickets can only be accessed if one holds a specific limited-edition NFT.

However, in Flybondi’s case, the company targets a broader audience, leveraging the blockchain to solve business and people’s pains.

Although we do not know what the company’s Web3 roadmap looks like, there is plenty of room for Flybondi to take it further.

We can’t know for sure what Flybondi’s intent is and how far they will push it when it comes to Web3.

Nonetheless, there’s no denying that it is a bold first move for an established Web2 player to try and disrupt its primary source of revenues - flying tickets in this particular case.

Closing thoughts

We must still understand how serious Flybondi is about its Web3 endeavors and how far it will take its blockchain-powered tickets.

One can only hope they will start to deploy an articulated program to increase customer retention through compelling incentives.

For example, the company could play with rarity tiers for a starter, granting different benefits according to how many miles a customer has flown.

The NFTs could also be dynamic and update themselves according to customer activity, thus, gamifying the consumer journey and rewarding their most loyal customers in real time.

There is also room for Flybondi to build a proper 360-degree on-chain loyalty program from the ground up.

It won’t be tomorrow that their whole model is going to change.

Yet, suppose they manage to provide a user-friendly experience and demonstrate the added value such on-chain programs can bring to the table.

In this instance, they will make up a compelling case for all industries that generally resort to tickets.

Established players and Web3-native companies are working together to enable brands to deploy seamless NFT ticketing solutions without much effort.

For example, US sports publication Sports Illustrated has recently partnered with Consensys to build “the world's first complete NFT ticket service, allowing event owners, organizers and promoters to use Box Office to build further engagement opportunities into tickets, such as highlights, collectibles and offers through a feature called Super Ticket."

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