Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Lufthansa Launches NFT Loyalty Program on Polygon
Lufthansa, one of Europe’s largest airline groups, has launched its non-fungible token (NFT) loyalty program on the Polygon Network. The initiative allows passengers to convert their travel experiences into NFTs that unlock rewards such as mileage credits and business lounge vouchers.
On August 31, Lufthansa announced the launch of the Uptrip mobile application. The project is a collaboration between Lufthansa Innovation Hub, the airline group’s digital innovation unit, and Miles & More, the airline’s frequent flyer program.
Lufthansa’s @Uptrip_app loyalty program is building #onPolygon to turn flights into rewards
Collect NFT trading cards for every flight and claim rewards
Learn more about the new Miles & More and @LHInnovationHub experience: https://t.co/MjQihK8xUx pic.twitter.com/JfUEoUJxNR— Polygon (Labs) (@0xPolygonLabs) August 31, 2023
According to the announcement, passengers can scan their boarding passes using the app to exchange them for NFT trading cards. Within the application, users must connect their cryptocurrency wallets to mint and transfer their Uptrip NFTs. Upon completing specific NFT collections, passengers become eligible for rewards including flight upgrades, airport lounge access, frequent flyer status, or award miles.
Kristian Weymar, an executive at Lufthansa Innovation Hub, stated in the announcement that Web3 is still in its early stages, with users showing curiosity but remaining hesitant to fully engage. Weymar emphasized that the project aims to make Web3 accessible to the airline’s customers.
Christopher Siegloch, head of program development at Miles & More, noted significant interest in Uptrip. The announcement reported over 20,000 sign-ups and 200,000 NFT trading cards minted.
Related: Venezuelan international airport to accept Bitcoin payments: Report
Earlier this year, Lufthansa expressed interest in integrating Web3 technologies into its business operations. On May 12, Johannes Walter of the Lufthansa Group told Cointelegraph in an interview that decentralization and tokenization would create opportunities for new business models.
Meanwhile, other players in the airline industry have also announced their intent to implement Web3 solutions. In 2022, Emirates, the largest airline company in the United Arab Emirates, announced plans to accept Bitcoin payments and launch NFTs.
Magazine: $3.4B of Bitcoin in a popcorn tin: The Silk Road hacker’s story