Emirates, the United Arab Emirates’ biggest airline, said on Thursday it plans to launch collectible and utility-based non-fungible tokens (NFTs) aimed at improving customer interaction and revenues.
The airline also plans to transform its pavilion at Dubai’s Expo for metaverse, NFTs, and Web3 projects. The move aligns with advancements in developing a digital economy in Dubai and the UAE.
Emirates to issue NFT collection
The flag carrier of the UAE, Emirates, has joined the growing crypto adoption in the country after the region announced comprehensive regulation for digital assets. Emirates will be launching its first NFT projects in the next few months, the company announced on April 14.
Sheikh Ahmed Al Maktoum, Chairman and Chief Executive of Emirates airline, affirms the digital economic developments in the country, especially in Dubai and Abu Dhabi, supported by clear regulations and policies from the government bodies.
“Emirates has always embraced advanced technologies to improve our business processes, enhance our customer offering, and enrich our employees’ skills and experiences.”
Moreover, the company intends to seek investment opportunities in the metaverse, NFTs, and Web3 technologies to boost its revenue, provide a better brand experience, and improve business efficiencies.
Emirates also plans to repurpose its Dubai Expo’s pavilion into a center for innovation to push metaverse-based experience in future projects. Moreover, the airline plans to hire global talent for working on future projects. The airline is pioneering in adopting new technologies.
Emirates’ flagship A380 aircraft and Boeing 777-300ER Gamechanger aircraft already offer virtual reality experiences to customers. Last year, the airline launched its own VR app on the Oculus store.
NFT adoption rises in non-web3 companies
Emirates is not the only airline exploring the NFT space. Recently, Australian flag carrier Qantas announced releasing digital art collectables as non-fungible tokens (NFTs). Moreover, owners of Qantas NFTs will earn Qantas Points and other rewards.
Spanish airline Air Europa partnered with blockchain-based travel firm TravelX to offer NFT airline tickets, called NFTickets.
The moves come amid growing adoption of blockchain technology by traditional businesses. Several established lenders, such as HSBC and JPMorgan, have also made their own forays into the metaverse.