Jetshare is the innovative Web3 project disrupting the private jet industry. The protocol allows crypto enthusiasts and jet lovers across the globe to purchase a fractional share of a NFT backed by a real world aircraft and benefit from its commercial use.
As part of their chapter two roadmap the experienced team behind the project are launching flight hour smart NFTs for members to purchase and use or trade whenever they want. Once flight hours have been used, owners will have a collectable NFT to keep or sell.
What are smart NFTs
The definition of Smart NFTs, also known as programmable or self-executing NFTs seems pretty straightforward however, developing a real world use case version has eluded plenty of projects but not Jetshare it seems. Smart NFTs are a type of Non-Fungible Token that perform specific actions or functions within a decentralized application (dApp).
The Jetshare team will launch Aviator flight hour smart NFTs on their custom built NFT marketplace. According to the team, Aviator NFTs can be programmed to decrease the number of flight hours as they are used. This can be done by using smart contracts, which are self-executing contracts that are stored on the blockchain.
A smart contract can be programmed to automatically update the number of flight hours remaining on the NFT as the jet is flown. For example, each time the jet is flown, the smart contract can automatically deduct a certain number of flight hours from the NFT.
The process typically works as follows:
The Jetshare team or Jet owner creates an NFT for a specific number of flight hours on their jet and assigns a unique digital asset to it, this can be a specific flight time, a series of flight times or a specific jet.
The jet owner then lists the NFT for sale on Jetshare or third party marketplaces.
Potential buyers can then view the NFT and purchase it if they are interested in purchasing flight hours on a private jet.
Once the NFT is purchased, the buyer becomes the owner of the flight hours represented by the NFT.
The buyer can use the flight hours at their convenience and schedule flights via the Jetshare custom charter platform.
The jet owner(s) continues to own the jet and can sell more flight hour NFTs, generating income for its maintenance, operation and to pay for crew, insurance, and other expenses.
With flight hour NFTs, buyers can purchase a specific number of flight hours on a jet at a fraction of the cost of owning an aircraft outright, while jet owners can generate additional income from their jet.
These smart NFTs allow for a whole new range of use cases, where ownership and access can be tracked, traded and programmed on a blockchain. As the technology evolves, it's likely that new use cases will be discovered and developed.
Jetshare with its native token JETT$ aims to provide investors and jet fans with a destination if they're looking for a risk-free way to interact, invest and access or own private jets. Membership comes with a host of benefits and rewards. With a strong and experienced management team, a robust business model, JETT$ is poised for success. Learn more and support the crypto future of private JETT$ through the links below.