Emirates Airlines announced the imminent creation of its own NFT tokens (non-fungible tokens) and the launch of projects in the Metaverse. With the help of tokens, the airline management plans to increase revenue and improve the quality of services.
Tokens will be both collectible and service. The airline is also planning to convert its pavilion at EXPO 2020 Dubai into an innovation hub to showcase future designs.
In September 2021, the airline launched the world’s first virtual reality app on the Oculus Store that allows users to view aircraft cabins remotely. In March of this year, the Dubai government was the first in the region to pass a law regulating virtual assets (cryptocurrencies).
A non-fungible token is a digital certificate based on blockchain technology that confirms the right to own a virtual asset. The NFT is unique and cannot be counterfeited or replaced. NFT technology was created in 2017.