The current state of Cryptocurrencies is that of a technology that is still immature, due to un-user friendly tooling and a high knowledge barrier of entry. Think of the dial-up internet pre-AOL.

This industry will mature. I think frequent flyer miles as a crypto-token makes absolute sense. This will intersect with the greater cryptocurrency world once concepts like decentralised exchanges and atomic swaps take hold. Imagine having a free-market exchange system for flying-tokens that doesn't rely on a central body or broker. Anyone want to trade 10 Avios for my 5 Starwood points? This could happen in the future for free, anonymously, and without any fear of hacking as it becomes purely peer-to-peer.

Or does anyone want to cash-in their flying-token for a cryptocurrency? Being able to freely swap flying-tokens for cryptocurrencies will completely change the value and market demands for each program.