The UAE postal operator will issue non-fungible token (NFT) stamps to commemorate the federation’s 50th National Day, which is further proof that digital collectibles are gaining followers around the world.
Emirates Post Group, or EPG, announced this week that it has become the first postal organization in the Middle East and North Africa to issue collectible digital stamps. The new stamps, to be unveiled on December 2, the National Holiday, consist of blockchain-based digital twins that will be sold as digital collectibles tied to their physical counterparts.
A total of four stamps will be issued, each with a different design consisting of a national theme. Buyers will be able to see the digital design linked to the physical seal they purchase after scanning a QR code printed on the card. To activate the digital collectible on the blockchain, users must scan a hidden QR code on the back of the card.
The CEO of EPG, Abdulla Mohammed Alashram, He told Cointelegraph that embracing NFTs aligns with the company’s vision of moving more towards digital. In the wake of the COVID-19 pandemic, EPG is “exploring how the implementation of Blockchain technology can streamline and improve our operations and introduce other competitive advantages.”
When asked if NFT stamps are a one-time foray into blockchain or part of a broader strategy to adopt the new technology, Alashram said that EPG plans to release more digital labels in the future:
“Adopting the latest advances in digital technology in our operations is also to cater to the tech-savvy generation who prefer 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 labels. “
The UAE has taken a progressive attitude towards blockchain technology and digital assets. Local regulators have promoted a series of regulations in favor of cryptocurrencies. In September, local authorities established a new regulatory framework that supports cryptocurrency trading and related activities in the Dubai Free Economic Zone, potentially opening the door to further adoption and innovation in the emirate.
By the end of october, The Dubai Financial Services Authority, also known as DFSA, clarified the regulations around so-called investment tokens. The framework aims to offer legal certainty to both investors and market operators.
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