MIAMI - TravelX, the company building the travel industry's blockchain-based distribution protocol, announced a partnership with Kiu System Solutions via Kiu PSS - the comprehensive commercialization solution for airlines providing tools to manage inventory, reservations and tickets. This enables 73 airlines to tokenize and distribute inventory as NFTs through 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.
The strategic alliance allows airlines operating with Kiu to reduce distribution and transaction costs and increase revenue, while improving the traveler experience, by tokenizing and globally distributing inventory as NFTickets. NFTickets can be exchanged between actors in the blockchain network in accordance with smart contracts or parameters predefined by the service provider, generating additional revenue streams. Additionally, through transactions on the blockchain, refunds and exchanges are immediate and governed by automatically executed smart contracts, which saves money and time associated with customer service.
"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 accelerate its adaptation to Web3. One of TravelX's most innovative propositions is the tokenization of E-tickets, evolving them into NFTickets. The company plans to launch its first service and marketplace later this year.