Emirates Post Group launches first NFT postage stamps in the Middle East

The United Arab Emirates has taken a friendly approach to cryptocurrency on more than one occasion. The postal operator of the Emirates Post Group (EPG) is now releasing an NFT to commemorate National Day.

NFT stamps

The United Arab Emirates postal operator is issuing non-fungible token (NFT) stamps to commemorate the 50th anniversary of the federation’s national holiday, further evidence that digital collectibles are gaining popularity around the world.

The Emirates Post Group, or EPG for short, announced this week that it was the first postal organization in the Middle East and North Africa to issue collectible stamps digitally. The new stamps, which will be unveiled on December 2, a national holiday, are made up of blockchain-based digital twins that will be sold as digital collectibles tied to their physical counterparts.

Features of brands with NFT

A total of four stamps will be issued, each with an individual design, consisting of a national theme. Buyers will be able to see the digital design associated with the physical stamp they purchase by scanning the QR code printed on the card. To activate a digital collectible on the blockchain, users must scan a QR code hidden behind a card.

EPG CEO Abdullah Mohammed Alashram said the use of NFT is in line with the company’s vision of becoming more digital. In the aftermath of the COVI-19 pandemic, the EPG “is exploring how the adoption of blockchain technology can simplify and improve our operations and provide other competitive advantages.”

When asked if the NFT stamps are a one-off use of the blockchain or part of a broader strategy to introduce new technology, Alashram said EPG plans to release more digital stamps in the future:

“Bringing the latest digital technologies into our operations also aims to appeal to the tech-savvy generation that prefers digitally available services. As part of our efforts to bridge the gap between traditional postage stamps and the digital world, we are also working to release more NFT stamps. ”

The UAE has taken a progressive stance towards blockchain technology and digital assets, with local regulators pushing many crypto-friendly rules. In September, local authorities created a new regulatory framework that supports cryptocurrency trading and related activities in the Dubai 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, clarified the rules regarding so-called investment tokens. The regulatory framework is designed to provide legal certainty for both investors and market operators.

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