Emirates is betting on NFTs, Web3, and the metaverse

    16 Apr 2022

    Emirates revealed its plans to expand the airline’s use of the metaverse and launch NFTs to increase revenue and improve customer service.

    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 in a statement on Thursday.

    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.

    “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,” said HH Sheikh Ahmed bin Saeed Al Maktoum, CEO and chair of Emirates airline and Group.

    Also, 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.”

    Last year, Emirates became the first airline to launch its own VR app on the Oculus store, offering users interactive cabin interior experiences onboard A380 aircraft and Boeing 777-300ER Gamechanger aircraft. Users were able to “pick up” items from the Onboard Lounge and even explore the cockpit.

    Meanwhile, technological innovations in digital assets, blockchain, and NFTs are also expected to transform the real estate assets in the MENA region, making them more liquid, digital, and accessible for people who are unable to access them due to high capital costs, complicated transaction processes, and restricted deals. In the future, with the liberation of regulatory policies in the UAE more doors are being opened for the masses.

    Source: https://www.theblockcrypto.com/linked/142064/emirates-plans-to-launch-nfts-and-expand-experiences-in-metaverse

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