Web 3.0 is seeing massive adoption in various industries across the world. With its unique design and features, the travel industry is ready to implement Web 3.0 and change customers’ traveling experiences for good.
- The travel industry has witnessed an excellent customer base and market size increase. In the early 90s, there were about 1.2 billion airline passengers with a market valuation of $250 billion. However, with the invention of the internet, the industry is home to more than 5 billion airline passengers with an over $500 billion market size.
- Implementing a new method of purchasing and managing your tickets is worth considering. An example is the blockchain company, TravelX working actively to tokenize flight tickets. The co-founder of TravelX, Facundo Diaz believes that Web3 technologies can expand the travel industry and market size.
- Facundo Diaz also claims NFTickets can become a game changer in how travelers see their tickets. In an emergency, travelers can auction, sell, trade, and transfer tickets with a peer-to-peer transaction. This innovation will enable travelers to manage their tickets as they deem fit.
- He further explained that airlines could see a revenue increase when customers resell their tickets in the secondary market. Using a smart contract, airlines could collect a percentage share when passengers resell their tickets to other passengers. According to Diaz, the implementation is underway with their first layer of infrastructure for other travel industry players to build Web3 solutions.
See Related: Zilliqa Prepares To Launch Web3 Gaming Console
