The United Arab Emirates national carrier announced it would launch utility-based and collectible NFTs. The first project is 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 is the Chairman and Chief Executive of Emirates.
“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
According to the company, its Expo 2020 Dubai pavilion will be repurposed as 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 used virtual reality (VR), technology more than five years ago on its website and app to provide travelers with an immersive 3D view and experience of the aircraft interiors.
It was the first airline that launched its own VR app via the Oculus store. This featured interactive cabin interior experiences onboard the A380. The next step in the airline’s quest for high-tech experiences is its move into Metaverse. The CEO stated that:
“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.”
It was not clear what NFTs might look like or how they would 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.
Nonfungible.com reports that NFT trading activity has remained steady at around $35 million per day over the past few weeks. Bored Ape Yacht Club remains the most highly-sold collection, with weekly sales of around $47 million.