Emirates, a Middle Eastern airline, is the latest big name to engage in the NFT and Metaverse field, pledging “substantial” investment. The national airline of the United Arab Emirates has announced the introduction of collectable and utility-based NFTs, with the first project currently underway.
Emirates said on April 14 that it would be deploying NFTs and “exciting Metaverse experiences” for its customers and workers. Emirates Chairman and Chief Executive Sheikh Ahmed Al Maktoum stated that the area was already a leader in the digital economy:
“Dubai and the United Arab Emirates are leading the way in the digital economy, with a clear vision backed up by actual laws and regulatory frameworks in sectors like virtual assets, artificial intelligence, and data security.”
Taking to the skies in the Metaverse:
The Emirates Pavilion at the Expo 2020 Dubai site will also be transformed into an innovation hub, according to the business. It intends to recruit top talent from across the world to “bring to life the airline’s future-focused initiatives, such as those involving the metaverse, NFTs, and Web3.”
More than five years ago, Emirates began using virtual reality (VR) technology on its website and app to provide travelers with an immersive 3D picture of aircraft interiors and onboard activities.
It was the first airline to release a virtual reality software on the Oculus Store, exhibiting interactive cabin interior experiences onboard its flagship A380 plane. The airline’s foray into the Metaverse is the next stage in its search for high-tech experiences. According to the CEO,
“Our future-themed Emirates Pavilion at Expo is being repurposed as a center to produce cutting-edge future experiences linked with the UAE’s goal for the digital economy, which is suitable.”
He went on to say that the airline is enthused about the “future potential in the digital domain” and that it is “committing a considerable financial and resource effort.” There was no more information about what NFTs will include or how they may connect with passenger experiences.
NFT Market Prospects
LINE, Japan’s most popular chat service, unveiled NFT intentions this week with the opening of a new marketplace. According to Amazon’s top executive, the corporation may offer NFTs in the future.
According to Nonfungible.com, NFT trading activity has stayed around $35 million in daily sales volumes over the previous several days. In terms of weekly sales, the Bored Ape Yacht Club collection continues to be the most popular, with roughly $47 million in sales.
