UAE National Day: Emirates Post to issue 4 unique NFT stamps

The collectables will be issued on December 2



by

Waheed Abbas

Published: Sun 28 Nov 2021, 2:30 PM

Last updated: Sun 28 Nov 2021, 2:33 PM

Emirates Post Group (EPG) on Sunday announced that it would issue non-fungible token (NFT) stamps in commemoration of the UAE National Day 2021, becoming the first in the region to issue NFT stamps.

Four distinct NFT stamps will be released on December 2 to mark the UAE's Golden Jubilee. The NFT stamps will have a digital twin in the blockchain and will be sold as digital collectables linked to their physical stamp counterpart.

The first stamp will cost Dh2,021 each while the other NFT stamps are priced at Dh250 per piece. Each of the four NFT stamps carries a distinct design centred on the UAE national theme.

The first one is a premium edition that contains a gram of fine gold titled "The Golden Jubilee 2021".

Meanwhile, the second stamp is called the "Spirit of the Union - 1971", symbolising the establishment of the nation by the founding fathers. The third stamp is "Year of the 50th – 2021", while the fourth design is "Projects of the 50th 2071", representing the UAE's futuristic vision.

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Buyers will only get to see the digital design linked to the physical stamp after scanning the QR code printed on the card's front side. The stamp contains a locked cryptographic NFC chip for verification using any smartphone with an NFC reader.

Each stamp includes a unique code hidden behind the card, which can be unlocked by scanning the QR code to activate the counterpart on the blockchain. Users who already have a digital crypto wallet can connect it with the NFT or add the digital twin as a collectable.

"We have been working to establish a strong technology infrastructure in our business, and this new generation of stamps is a testament of our capabilities and efforts to transform into a more digitally-centred company to better serve our customers. We will launch the stamps on December 2, 2021, in honour of the country's 50th National Day. NFT enthusiasts will be able to collect, exchange and trade our stamps, which also promote the story and milestones of the UAE," said Abdulla Mohammed Alashram, group CEO of Emirates Post Group.

NFT stamps, or commonly known as crypto stamps, have digital counterparts stored in the blockchain and can be collected, traded, or used for online exchange like other digital tokens.

- waheedabbas@khaleejtimes.com


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