First offerings to be launched in months, airline says
Dubai’s long-haul operator Emirates airline is set to enter the world of virtual assets, as it announced plans to launch non-fungible tokens (NFTs) for its customers and employees.
In a statement on Thursday, the carrier said it plans to build signature brand experiences in the metaverse, alongside both collectible and utility-based NFTs.
The initiative is part of the carrier’s new strategy to “extend its leading experiences” into the latest digital spaces, “with a committed investment of tens of millions of dollars”, the airline said.
“Emirates’ move aligns with Dubai and the UAE’s strong advancements in building its digital economy and initiatives relating to virtual assets, artificial intelligence and the latest technologies in the business environment and for everyday consumer services,” it added.
Emirates did not disclose any further details about the NFT offering but it said that it is working on “the first projects” which are expected to be launched in the coming months.
The Dubai-based airline is latest travel industry player to join the digital asset bandwagon.
Last year, Latvian airline airBaltic became the world’s first carrier to announce plans to issue NFTs. Australian carrier Qantas made a similar announcement in March this year.
The Emirates Pavilion at Expo 2020 Dubai will be repurposed into a centre for innovation, including the development of the airline’s metaverse and NFT projects, it said.
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