NFT Stamps

UAE Posts First Middle NFT Stamps in the Middle East

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The UAE postal operator is starting to issue nonfungible token NFT stamps to commemorate the federation’s 50th National Day, providing further proof that digital collectibles are gaining global appeal.

Emirates Post Group, or EPG for short, announced this week that it has become the first postal organization in the Middle East and North Africa to issue digital stamps. The new stamps, which will be unveiled on December 2, the National Holiday of the UAE, consist of blockchain-based digital twins that will be sold as digital collectibles related to their physical counterparts, according to cointelegraph.com

In total, a number of four stamps will be issued, each coming with a distinct design, consisting of a nationally inspired theme. Buyers will then be able to see the digital design related to the physical stamp they purchase after scanning a QR code that will be printed on the card. To activate the blockchain digital collectible, users must first scan a QR code hidden behind the card.

Emirates Post Group CEO Abdulla Mohammed Alashram told Cointelegraph that the adoption of NFTs is just in line with the company’s vision to become more digital-oriented. Following the COVID-19 pandemic, EPG “explores how the application of blockchain technology can streamline and improve our operations and introduce other competitive advantages.”

NFT Stamps

When asked if NFT stamps are a unique thing into the blockchain scene or simply part of a broader strategy to embrace new technology, Alashram said EPG plans to launch more digital stamps in the future:

“The application of the latest advances in digital technology in our operations is also to address the technology literate generation who prefer digitally accessible services. As part of our efforts to bridge the gap between traditional stamps and the digital world, we are also working to launch more NFT stamps, ” he said.

The United Arab Emirates has been taking a rather progressive stance on blockchain technology and digital assets recently, with local regulators promoting a number of crypto-friendly regulations. In September, local authorities established a new regulatory framework that supports cryptocurrency trading and other types of related activities in Dubai’s free economic zone, potentially opening the door to wider adoption and innovation in the Emirate.

At the end of October, the Dubai Financial Services Authority, also known as the DFSA, has clarified the regulations on the so-called investment tokens. The framework is intended to provide legal certainty for both investors as well for those who participate in the markets.

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