The former CEO of Thai low-cost airline Nok Air opens a new venture called Really Cool Airlines that promises to “Fly to the Future” because:
- It will be run by “crypto-natives from our Really Cool Air GameFi”.
- And it will be the very first GameFi airline to allow passengers to play blockchain games.
Their plan is to acquire four Airbus A350s this year for flights in the Asia-Pacific region, as well as from Thailand to Europe, to “destroy[ing]”the norm of standard cabin configurations and cargo handling.”
Long Island Iced Tea Corp. was renamed Long Blockchain Corp. and then delisted from the NASDAQ, but that was in 2017, after which the SEC delisted them entirely. It turned out to be a scam. The “business + blockchain” saying seems to have peaked in 2021, and it actually turns out to be a bad time for an airline to mint its own magic beans as a frequent flyer currency.
A new airline with blockchain technology does not have the same resonance as with ZIRP. Meanwhile, even the company that renamed itself Meta out of the virtual reality headset business. So maybe Real Cool Airlines missed the trend?
However, the most important takeaway is that calling a company “really cool” doesn’t actually make it cool. It’s just not how cool it works.
The Thai market and the low cost airline segment are overcrowded. It is not yet clear how Really Cool Airlines will be different. They promise “a premium experience that goes beyond your wildest dreams”, though I’m skeptical. However, I certainly hope that the former CEO of the airline will deliver on that promise.
(HT: One mile at a time)
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