In Brief:
- Emirates Postal Group will issue digital stamps on the 50th National Day of UAE.
- The digital collectible consists of a nation theme-based four distinct NFT stamps.
- Buyers will be able to activate these NFTs by scanning QR codes on physical cards.
The NFT world is emerging and Gulf Countries are also taking a step into it. Today, the United Arab Emirates (UAE) postal operator announced that it will issue non-fungible tokens (NFT) stamps in honor of the federation’s 50th National Day on 2nd December.
Emirates Postal Group (EPG) will become the first postal organization in the Middle East and North Africa to launch digital-collectible stamps. As per the report, the stamp consists of the digital twin of the blockchain-based four distinct NFT stamps based on the nation’s Golden Jubilee. Also, these NFTs will be sold as digital collectibles, which will link to physical stamps.
These NFT holders must scan a QR code to activate digital collectibles on the blockchain. NFT enthusiasts will be able to collect, exchange and trade the NFT stamps, which promote the story and milestones of the UAE.
The four digital stamps depict different movements and iconic themes of the UAE. The first stamp is the premium edition which contains fine gold titled the Golden Jubilee 2021. The second stamp shows the establishment by the founding father entitled ‘Spirit of the Union – 1971’.
The third and fourth stamps hold connection as the third stamp shows the current year ‘Year of the 50th – 2021’ and fourth stamps depict countries’ projection after 50 years entitled ‘Year of the 50th – 2021’.
CEO of EPG, Abdulla Mohammed Alashram stated in an interview that the company wants to shift towards a digital approach through entering the NFTs hype.
Revealed the purpose behind this approach as the company wants to emphasize digital-oriented services rather than stick to physical stamps. Also, due to the COVID-19 pandemic, EPG is “exploring how the implementation of blockchain technology can streamline and enhance our operations and introduce other competitive advantages.”
Also, with the revelation of the future strategies, Alashram quoted, “The adoption of the latest advancements in digital technology in our operations is also to address the technology-savvy generation who prefers digitally accessible services. As part of our efforts to bridge the gap between traditional postage stamps and the digital world, we are also working to launch more NFT stamps.”
The move shows UAE’s inclination toward revolutionary blockchain technology. In July, The country revealed a plan to roll out the Central Bank Digital Currency, which could be launched between 2023-2026.
