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Australia’s Largest Airline, Qantas Launching NFT

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Australia’s largest airline, Qantas, is venturing into the world of non-fungible tokens (NFTs). The firm has stated that its own NFTs will be available soon, and customers who acquire them will receive benefits while travelling with Qantas.

Non-fungible tokens are one-of-a-kind works of art, such as photographs or films, that reside digitally within a blockchain.

The airline intends to launch its first NFTs later this year, although it will not be the first to do so. In 2022, airBaltic began marketing their own NFTs.

Members of Qantas’ frequent flyer club will receive reward points in exchange for purchasing NFTs. The airline has also indicated that the NFTs will bring further ‘exciting future benefits.’

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If buyers so desire, they will be allowed to resell the NFTs.

Some environmentalists are concerned about blockchain technology due to the massive amount of energy required to keep it running. The airline has responded to similar worries by promising that its NFTs will operate on low-carbon platforms.

Qantas has yet to clarify why it has decided to release NFTs, but it could be a way to recognise its heritage with the Boeing 747. In 2020, the airline will stop its 50-year use of 747s.