What is a Blockchain
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets throughout hundreds of thousands of computers connected to the blockchain network.
The blockchain network distributes Tokens throughout the world with security standards and an immediacy that no other network or system has.
Tokens contain rules that are inalterable once created. Those rules can be managed as Smart Contracts.
What is Web 3.0
The next stage from Web 2.0, Web 3.0 reorganizes the world onto blockchain networks. This allows for global internet communities to have the ability to own digital property and form new asset categories that users own and control.
Web 3.0 adoption is at roughly where the internet adoption was during 1999, but as with Web 1.0 and Web 2,.0 any business that is aiming to grow must adopt these new technologies.
What is a NFT
NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable for other items because they have unique properties.
NFTs are tokens that we can use to represent ownership of unique items. They let us tokenize things like art, collectibles, even real estate. They can only have one official owner at a time and no one can modify the record of ownership or copy/paste a new NFT into existence.
In the Travel industry, every PNR is unique since there are no two same seats on the same flight on the same date.
That's how we can handle every travel record as an NFT.
NFTs have currently succeeded the art industry in popularity, according to The Economist. OpenSea has a valuation of over 13 billion, and the NYSE is primed to begin trading NFTs. The world is become tokenized, and we welcome the opportunity to bring this evolution to the travel industry.
What is a NFTicket
A non fungible token ticket is just like a regular ticket except a little more special - and flexible.
A limited number of NFTickets are created (“tokenized”) with a SmartContract and put up for sale or auction.
Those tickets give the owner access to a flight, exclusive events and ownership of the digital ticket itself (designed by a unique artist).
Like baseball cards, those NFTickets are rare and valuable all by themselves and importantly, can be traded.
All “trades” or transactions are recorded, safely and securely on the blockchain.
When the owner is ready, they can present the NFT and a matching ticket is issued in the traditional way.
Travel Industry Opportunities & Benefits:
TravelX allows for travel partners to tap into a market they never have before. There has been little to no innovation in the distribution sector of the airline industry since the 1980s. With our Web 3.0 system, you are now able to have a frictionless and less costly alternative to approaching inventory. You can now Reshape (rethink distribution, reframe / reposition) and reimagine (what distribution is for the airline industry). And most of all, you will be accessing a community eager to explore this protocol, as well as future avenues of utility.