US startup raising $10 million for private jets you can lease with crypto
11/06/2019|10:45:05 PM|Yahoo Finance

Jet Token is raising up to $10 million in a Regulation A offering for its ethereum-powered private jet leasing marketplace where travelers can pay for charters using ERC20 tokens.

Private charter flights, a travel option for people willing to pay for more than a business class seat, is a lively industry in the U.S. with substantial ticket prices – a flight from New York City to Miami would cost $15,000 on a charter.

Adding tokens as a form of payment would make the purchase process more flexible and “allow for faster booking confirmation of air charter flights, particularly on weekends and holidays coincident with periods of peak travel demand,” Jet Token said in a statement.

According to the General Aviation Manufacturers Association’s data, there are 14,217 business jets in the U.S., making the country a leader in the industry. However, only 2,876 of them are available for charter booking – Jet Token’s thesis is that rich travelers could get access to more options if the market was managed more effectively.

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