The first NFT plane ticket sold for $1 million

An airplane ticket has been issued in the form of a non-fungible token (NFT) for the first time in aviation history, which serves to verify the legitimacy of a physical asset.

This "NFTicket" recently sold for $1 million at auction (RM4.2 million).

This "NFTicket" recently sold for $1 million at auction (RM4.2 million).
Air Europa's NFT Flight Ticket

The world's first collectible NFTicket was sold for almost $1 million at an auction last month. The winner received a one-of-a-kind NFT piece as well as a business class flight from Madrid to Miami on Air Europa.

Juan Pablo Lafosse, co-founder and CEO of TravelX, the business behind the newly launched NFTickets, and former Chief Commercial Officer of Aerolneas Argentinas, spoke with Simple Flying recently.

Air Europa's tokenized tickets are far from a one-off marketing attempt to capitalize on the market's current obsession with NFT artifacts.

In addition, Lafosse adds that the technology will usher in a new era of growth and profitability for airlines by exponentially scaling efficiency in cost, sustainability, and performance. It will also considerably improve the passenger experience.

Tickets using blockchain technology are not entirely new. S7, a Russian airline, began selling tickets on the Ethereum blockchain in 2017.