Emirates plans to launch NFTs and expand experiences in metaverse
April 15, 2022, 7:32AM EDT
1 min read
Emirates plans to expand the airline’s use of the metaverse and launch NFTs to increase revenue and improve customer service, it said in a statement on Thursday.
The NFTs are designed to be both collectible and utility-based, and the first projects are already underway, with launch anticipated in the coming months, it said.
Emirates added that its Emirates Pavilion at the Dubai Expo 2020 site will be repurposed as a center for innovation and future-focused projects involving the metaverse, NFTs and web3.
CEO and chair Saeed Al Maktoum said: “Dubai and the UAE are blazing the way in the digital economy, having a clear vision supported by practical policies and regulatory frameworks in areas such as virtual assets, artificial intelligence, and data protection.”
He added that the company is “committing a significant investment in financial and resourcing terms, to develop products and services using advanced technologies that will deliver on revenue, brand experience, and business efficiencies.”
The Block reported last month that Binance had become the latest firm to be granted a virtual asset license in Dubai, following FTX.
TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.