The United Arab Emirates (UAE) has become the first country in the Middle East and North Africa to embrace non-fungible tokens (NFTs). A report unveiled this news on November 28, noting that the Emirates Post Group (EPG), the country’s postal operator became the first in the region to issue NFT stamps. Reportedly, EPG created the NFT stamps to commemorate the country’s 50th National Day.
According to the report, the postal operator intends to unveil four stamps on December 2 as the UAE celebrates its Golden Jubilee. EPG plans to sell the physical stamps alongside their digital counterparts on the blockchain. In doing so, the agency aims to let NFT enthusiasts collect, exchange, and trade the NFT stamps, which promote the story and achievement of the UAE.
Per EPG, each of the four NFT stamps features a distinctive design based on the UAE national theme. The first piece is a premium piece dubbed Golden Jubilee 2021. This piece, allegedly, contains a gram of fine gold.
The second stamp is titled Spirit of the Union – 1971, and it symbolizes the establishment of the nation by its founding fathers. Next comes Year of the 50th – 2021. The final piece is dubbed Projects on the 50th – 2071, and it represents the UAE’s futuristic vision.
Bridging the gap between traditional stamps and crypto
Buyers will get to see the digital design associated with the respective physical stamps after scanning a QR code printed on the front face of the stamps. Reportedly, the cards contain a locked cryptographic NFC chip that allows verification through smartphones that feature an NFC reader.
Each stamp features a unique code hidden behind it. This code, which unlocks the NFT, will be revealed after buyers scan the QR code. Buyers that already have a digital wallet can then connect their wallet to the NFT.
Commenting on this project, Abdulla Mohammed Alashram, the CEO of Emirates Post Group, said it is part of EPG’s broader goal of transforming into a more digital-focused company. He took pride in EPG’s milestone, noting that the company is proud to launch the first NFT stamps, which utilize blockchain technology, in the region.
Alashram added that,
By introducing tradable NFT stamps, we are bridging the gap between traditional stamps and the world of digital cryptocurrency.
According to Alashram, this is the first of many NFT and blockchain-related ventures by EPG. He pointed out that EPG’s decision to go digital seeks to address the demands of the technology-savvy generation, which prefers digitally-accessible services.
