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2022New DealWe advised in TravelX´s round of investments, and in the structuring and auction of the “first NFT flight in history”.

April 22, 2022

Bruchou, Fernández Madero & Lombardi and Perkins Coie LLP acted as counsel in the TravelX´s round of investments that raised more than 10 million dollars, and in the structuring and auction of the “first NFT flight in history”.

Bruchou, Fernández Madero & Lombardi and Perkins Coie LLP acted as legal counsel in the TravelX´s constitution and structuring, and in its seed financing round which raised over USD 10 million, as well as in the structuring and auction of the first tokenized air ticket (NFTIcket) in history.

The seed round was lead by Borderless Capital and with the participation of Algorand, Draper Cygnus, Myelin Capital, AIC Capital and Primary Ventures, and others, and achieved to raise more than 10 million dollars.

Co-founded by a team of travel, airline, technology, venture capital and blockchain experts, the company is building the tourism industry’s first blockchain-based distribution system.

TravelX lead by Juan Pablo Lafosse, founder of ASATEJ and Almundo, and was created in 2021 to accelerate the travel industry´s response to Web3, allowing a more transparent, agile, efficient, and frictionless distribution model of travel capacity.

The company provides independent solutions, services, and marketplaces on top of core travel industry infrastructure which benefits both customers and airlines, by giving travelers access to better products, with clear terms and conditions, and tools to freely dispose of their travel assets.

TravelX’s objective is to reduce the structural costs that the tourism sector currently has when issuing tickets and services, by tokenizing these products so processes can be more efficient and profitable. The project is designed so that tourism services can be transformed into crypto tokens that have the possibility of being exchanged on an exchange trading platform similar to those of cryptocurrencies.

Launch event in Paris

Its launch was made through a live auction of the first tokenized air ticket in history (the first NFTicket), in partnership with Air Europa, in an exclusive event at the mythical Eiffel Tower during the NFT Day in Paris and Paris Blockchain Week, which took place between April 12 and 14 in the city of Paris.

Legal advice provided to TravelX:

Bruchou, Fernández Madero & Lombardi: Partner: Santiago Balbi, and Associates: Agustina Rocca and Franca Stafforini.

Perkins Coie LLP: Partners Lowell Ness, Marcelo Halpern, Sarah Shtylman and Alberto Araiza, and Associates Will Conley, Carolyn White, Scott Griffin, Austin Harms and Jun Llas.

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