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UAE launches NFT stamp collectibles to celebrate 50th national day
The postal department of the United Arab Emirates (UAE) is issuing nonfungible token (NFT) stamps as a way to celebrate and preserve the federation's 50th National Day. This is a clear indication that digital assets and collectibles are gaining mainstream adoption internationally.
UAE NFT stamps
Emirates Post Group (EPG) announced that it had become the first postal organization to issue digital collectible stamps in North Africa and the Middle East.The announcement further added that the new stamps would be unveiled on December 2, which is the National holiday for UAE. The organization will offer two blockchain-based digital twins available in the form of digital collectibles linked to their counterparts.
A total of four stamps will be released, each with a unique design based on a national subject. After scanning a QR code printed on the card, buyers will be able to see the digital design connected to the real stamp they purchased. After scanning a QR code behind the card, user's will unlock or activate the digital collectible on the blockchain.
Broader adoption
The UAE has taken a progressive stance on blockchain technology and cryptocurrencies, with local authorities pushing for a plethora of crypto-friendly regulations.According to EPG CEO Abdulla Mohammed Alashram, embracing NFTs is a part of the group's objective of being more digitally focused. EPG is trying to explore the potential of blockchain technology implementations to streamline to enhance our operations and provide other competitive benefits in the wake of the COVID-19 outbreak in UAE and around the world.
Alashram also indicated that EPG intends to release more digital stamps in the future in a statement.
"In line with EPG’s goal of transforming into a more digital-centered company, we are proud to announce the launch of the first NFT stamp in the region, which utilises blockchain technology. By introducing tradable NFT stamps, we are bridging the gap between traditional stamps and the world of digital cryptocurrency," said Alashram.Before this, the authorities adopted a new regulatory framework to support digital assets trading in Dubai's economic free zone. This could be a start to potentially huge adoption in the UAE as the region attracts increased funding for digital asset service providers.
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