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Vueling Signs Crypto Deal To Explore NFT Tech
The Spanish low-cost carrier Vueling has signed a collaboration with Criptan to research the adoption of NFT technology and crypto payments in 2023.
Aviation plays a fundamental role in connecting people, economies, and cultures of the entire world. Consequently, this industry is strictly interlinked to the socio-economic environment and how it evolves over time. Additionally, technological advancements and innovations of all kinds influence aviation on a daily basis, both from an operational and managerial perspective.
For instance, several airlines are investing in adopting non-fungible tokens, also known as NFT technology. The latest addition to the list is the low-cost carrier (LCC) Vueling. Let's have a closer look at what the Spanish airline has in store.
On January 13th, the Spanish low-cost carrier Vueling Airlines, part of the International Airlines Group (IAG), and Criptan, a platform for buying and selling cryptocurrencies, announced a collaboration thanks to which both parties will investigate the possibility for Vueling to adopt the NFT technology and, thus, crypto payments.
According to Vueling, the collaboration with Criptan will enable the carrier to increase the convenience for its customers, who will be able to pay for plane tickets using cryptocurrencies. For such a service to be implemented, Vueling Airlines will rely on the Universal Air Travel Plan (UATP) technology, i.e., the global payment network for the airline industry. By cooperating with an expert in the field of blockchain technology and NFTs, Vueling aims to research the viability of adopting innovative payment solutions, continuously improving the user experience by leveraging digital tools.
Suppose the results of the alliance between Vueling and Criptan are positive. In that case, the Spanish low-cost carrier will become the first European carrier to accept cryptocurrencies as a form of payment. According to Vueling, customers will have the chance to purchase tickets adopting this method starting from the second half of 2023.
The recently announced partnership with Cripta clearly shows Vueling's strong commitment to funding its growth on innovation. Although the Spanish carrier will be the first European budget airline to adopt the NFT technology, other airlines have also moved in this direction.