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United Arab Emirates airline Emirates will launch non-fungible tokens (NFTs), centered around collectability and utility, and branded experiences in the metaverse.
It is converting its Emirates Pavillion at the Dubai Expo 2020 site into an innovation center in the hopes of attracting talent from all over the world.
Emirates can examine the prospect of employing NFTs for tickets and rewards, in addition to commercializing digital assets like most other collections where customers collect and sell NFTs in a secondary economy.
When it comes to using NFTs as a reward, the idea has the ability to make the company's mileage system more appealing to potential passengers.
Emirates can employ NFTs as part of their program, such as when a customer earns a certain number of miles and receives an NFT, giving them the impression of being a member of a select group. Completing a given collection could, for example, contribute to customer points if Emirates sells memorabilia.
Emirates Skywards, the airline's rewards program, is already utilizing blockchain technology. The idea is a collaboration with blockchain firm Loyyal, and it allows different parties to report and track how passenger points are used through a common system.
In terms of Emirates' metaverse entry, it is expected that it will purchase a spot in one of the prominent digital worlds such as The Sandbox or Decentraland.
HH Sheikh Ahmed bin Saeed Al Maktoum, CEO of Emirates, revealed that the company is investing heavily in both financial and human resources to develop products and services based on modern technology that will meet customer needs.
