The United Arab Emirates national carrier has announced that it will be launching collectible and utility-based NFTs, with the first project already underway.
In an announcement on April 14, Emirates stated that it will be launching NFTs and “exciting experiences in the Metaverse” for its customers and employees.
Sheikh Ahmed Al Maktoum, Emirates Chairman and Chief Executive, said that the region was already a leader in the digital economy:
“Dubai and the UAE are blazing the way in the digital economy, having a clear vision supported by practical policies and regulatory frameworks in areas such as virtual assets, artificial intelligence, and data protection.”
Flying into the Metaverse
The company also stated that its Emirates Pavilion at the Expo 2020 Dubai site will be repurposed into a center for innovation. It aims to attract global talent to “bring to life the airline’s future-focused projects including those relating to the metaverse, NFTs, and Web3.”
Emirates employed virtual reality (VR) technology on its website and app more than five years ago to offer travelers an immersive 3D view of aircraft interiors and onboard experiences.
It was the first airline to launch its own VR app on the Oculus Store, showcasing interactive cabin interior experiences onboard its flagship A380 aircraft. The move into the Metaverse is the next step for the airline and its quest for high-tech experiences. The CEO stated:
“It is fitting that our future-themed Emirates Pavilion at Expo is being repurposed as a hub to develop cutting-edge future experiences aligned with the UAE’s vision for the digital economy.”
He added that the airline is excited about the “opportunities in the digital space of the future and are committing a significant investment in financial and resourcing terms.”
There were no further details on what NFTs would consist of or how they could interact with passenger experiences.
NFT Market Outlook
This week, Japan’s leading messenger service, LINE, also announced NFT plans with the launch of a new marketplace. It was also reported that Amazon could sell NFTs in the future, according to the company’s chief executive.
NFT trading activity has remained at about $35 million in daily sales volumes for the past few days, according to Nonfungible.com. The Bored Ape Yacht Club collection remains the most popular in terms of weekly sales, which are around $47 million.
Featured Image Courtesy of Travel Daily