Emirates Airline Plans to Launch NFTs and Experiences in the Metaverse

Emirates, a Dubai-based international aviation company, announced on Thursday that it will soon launch non-fungible tokens (NFTs) and thrilling experiences in the metaverse for its customers and staff.

Emirates Plans to Invest in the Metaverse

The popular airline plans to invest in the metaverse by harnessing the use of collectibles and utility-based NFTs, as well as experiences that will promote its services.

Emirates said the first set of projects will be released in the coming months. 

Commenting on the company’s venture into the metaverse and the NFT world, Sheik Ahmed bin Saeed, Chairman and Chief Executive of Emirates Airlines and Group, said:

“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 airline noted that it will partner with companies to bring its Web3 strategy to life and also recruit talent for its future projects.

The company further revealed that its Emirates Pavilion, situated at the site of the just concluded Expo 2020, will now be used as a base for innovation.

Emirates Pavilion will be used to gather talent from around the world to help bring the company’s ideas and plans to fruition, including those related to the metaverse and NFTs. 

“It is fitting that our future-themed Emirates Pavilion at Expo is being repurposed as a hub to develop cutting-edge future experiences aligned with the UAE’s vision for the digital economy,” Saeed added.

Middle East Adopts Crypto

The Middle East is fast becoming a crypto hub. Coinfomania reported last month that two crypto exchanges, ByBit and CryptoCom, were approved to operate in the Middle East region. ByBit disclosed that it would set up its global headquarters in Dubai after acquiring an operational license to offer its full products and services in the region.

Another report confirmed that Citizens School became the first school in the Middle East to accept cryptocurrencies as payment for tuition fees.

Meanwhile, Dubai recently introduced a new law to regulate cryptocurrency activities in the region, as well as a regulatory body dubbed the Dubai Virtual Assets Regulatory Authority (VARA) to oversee the local industry.