Emirates Post Group released NFT postage stamps in the UAE, with physical and digital versions. The Golden Jubilee edition costs 2,021 AED and contains 1 gram of gold, limited to 20-21 pieces. The move aligns with the UAE's blockchain strategy.
2,021 AED (about $550).
1 gram of gold.
250 AED each (about $68).
Abdullah Mohammed Al Ashram.
Do you know what the most expensive modern postage stamps in the world look like? Well, we'll show you. Here it is a limited edition crypto stamp from the United Arab Emirates. It could be yours for. Well, we'll tell you a bit later. As soon as the Emirates announced it, we decided to check it out. Many crypto companies open their offices in the United Arab Emirates due to the favorable tax regime and other advantages. Seeing this, the Arab state seeks to bridge the gap between the institutions of the past and the digital present. It is rather surprising that such a traditional organization as the Post Office announced that it would become the first postal organization in the Middle east and North Africa to issue digital collectible stamps. We flew to Dubai and talked to the CEO of Emirates Post Group, Abdullah Mohammed Al Ashram, to find out the details.
So today, the first edition that we had was the. We introduced a physical and a digital twin for the same stamp. So the way we introduced these stamps, they were themed. We had four different themes in these stamps. We had the Golden Jubilee that had the golden one gram of gold in it, that it was very unique to celebrate the Golden Jubilee of the country. All of these stamps are limited stamps. They're all serialized. So for example, the Golden Golden Jubilee, we only have 20, 21 pieces. The 1971, we only have 1971 pieces.
So now about the cost. Ready? The most expensive piece in this collection is the Golden Jubilee, which celebrates the 50th anniversary of the foundation of the United Arab emissions. It contains 1 gram of gold and costs 2021 Dirhams, about $550. The other three NFT collections are a bit less expensive, 250 Dirkhams or about $68 each.
We are offering these NFT stamps on our website and you can buy them online and they get delivered to you anywhere in the world.
You have to admit that this is a fairly commonly used stamp for sending a postcard. We are not sure that someone will want to send half a thousand dollars by mail because the postcard might get lost somewhere. It could make one skeptical that these NFTs are a one time foray into the blockchain. But Alishram said this is part of a broader strategy.
It's definitely a part of a bigger blockchain strategy. There is no doubt that blockchain is going to be in the center of all these cutting edge technologies. We're evaluating a couple of blockchain projects that we have within Emerse Post Group and the NFT stamp was only one of the projects that we wanted to introduce on a blockchain.
We are well aware that now all over the world, the potential of NFTs in the entire market still looks like just some beautiful pictures with inflated prices. Therefore, in such a situation, Arab stamps are valuable in a practical sense. It's not just a digital image that sells for millions of dollars. It reflects a broader Trend in the UAE with the Emirates Blockchain Strategy 2021. Blockchain technology has become an official medium in the state's administration. In other words, the UAE is becoming one of the world's main crypto hubs. We at cointelegraph will keep you up to date on all crypto innovation happening in this forward looking country. If you haven't done so already, please consider leaving a like on this video and clicking that subscribe button. This has been another cointelegraph report.
