NFT: Emirates announces launch of NFTs and expansion to the Metaverse
Emirates just revealed its plans to enter the Metaverse and world of non-fungible tokens with the launch of its own NFTs. The airline explained that it is intending to use the digital world to boost profits while also improving its customer service.
Emirates further said that its entrance into the digital space is a strategy to extend better experiences for its customers and employees as well. For this project, the company has committed to spending tens of millions of dollars as an investment.
As per Bloomberg, the upcoming Emirates NFTs will be collectible items and utility-based, and this was mentioned in a company statement on Thursday, April 14. The air carrier is also planning to convert its Emirates Pavilion at Dubai’s Expo 2020 into an innovation center that will be dedicated for use for future-focused projects that apparently include anything related to Web3, Metaverse, blockchain, and digital tokens.
The development of the airline’s future NFT projects and metaverse will be developed in the repurposed center. The first projects related to the digital space are now underway as per the announcement this week. However, the official launch may take some time, so the release could still be months away.
“We will soon launch NFTs and exciting experiences in the metaverse, as we repurpose The Emirates Pavilion from Expo 2020 Dubai into our new center for innovation,” Emirates Airline and Group’s chairman and chief executive officer, HH Sheikh Ahmed bin Saeed Al Maktoum, said in a press release. “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.
The chief suggested that this metaverse and NFT project are not really new for the company because has always “embraced advanced technologies” as a way to bolster its business processes, enriching the staff’s skills and making its services and experiences better for the airlines’ customers.
“We are excited about the opportunities in the digital space of the future and are 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 CEO added.