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UAE Embraces NFTs, To Launch First NFT Stamp

The UAE appears to have fully embraced a digital asset class known as non-fungible tokens (NFTs). According to reports, the UAE is getting ready to launch its NFT stamp collection. The project was created in collaboration with Emirates Post Group (EPG). The NFT stamps will be released in conjunction with the UAE’s 50th-anniversary celebrations, officially known as National Day.

This was revealed by TradeArabia News Service, one of Arabia’s largest news agencies. According to the report, the EPG will release four unique stamps in the digital token stamp collection, with digital versions available for acquisition as digital collectibles. The unveiling will take place on December 2, the UAE’s National Day.

Blockchain technology will connect the physical and digital versions, which will be exact replicas. The stamps, captioned Golden Jubilee 2021, Spirit of the Union – 1971, Year of the 50th – 2021, and Projects of the 50th 2071, represent significant aspects of the UAE’s history and future projections, respectively.

Abdulla Mohammed Alashram, a top executive at EPG, stated that the EPG intends to achieve its goal of becoming a digital-focused company by using NFT technology to remove the chasm between conventional stamps and digital stamps powered by blockchain technology.

A Security-First Project

By implementing a double-layer security protocol, the EPG is taking the security of digital stamps seriously. Each physical stamp contains embedded chips that connect to digital versions. Owners will use NFC to scan the physical stamps and then receive the digital versions. The NFT stamps are authenticated by a QR code, and their owners can buy, sell, exchange, or hold them.

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The other security layer is a hidden code that can be unlocked only after scanning the QR code and activating the digital stamp. The code is constantly changing. The EPG prioritizes security to ensure the stamps’ integrity and the owners’ funds’ safety. There is currently no information available about the blockchain on which the stamps are based.

The first stamp costs Dh2,021 per piece, while the remaining NFT stamps cost Dh250 each.

NFTs Adoption Increases

UAE is the latest in a growing list of NFT adopters. The meteoric rise of NFTs has been nothing short of spectacular. Since the start of the year, the crypto industry has been rocked by an explosion of NFT projects. NFT technology has been adopted by artists, actors, musicians, athletes, sports clubs, and now governments.

As a result, the value of blockchain networks on which NFTs are deployed has increased. In the past, Ethereum was the network of choice for developing DeFi and NFT projects, but in recent months, Binance Smart Chain, Cardano, and Solana have emerged as strong contenders. Above Ethereum, the latter blockchains have the advantages of speed and low transaction fees.

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More countries are likely to follow the UAE’s lead and introduce digital stamps. Philatelists now have a new way to collect and preserve their favorite stamps – forever! This is just one of the ways in which blockchain is changing our modern world into a digital system.


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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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