Etihad Airways launches its first NFT collection

by James · July 6, 2022

Etihad Airways has announced its first collection of non-fungible tokens (NFT).

The collection, called EY-ZERO1, will feature 10 detailed 3D aircraft models, each showing a different Etihad Boeing 787 Dreamliner design.

A total of 2003 limited edition collectibles, which symbolize the year when Etihad Airways was established, will be sold at 18:00 UAE time July 21, Etihad said in a statement on Wednesday.

Buyers of an Etihad NFT will receive Etihad Guest Silver tier membership for one year, while 10 NFT holders will win free airline tickets.

“We are pleased to launch our first NFT collection, EY-ZERO1, which not only offers collectors, aviation enthusiasts and travelers a unique work of art, but provides real travel and lifestyle benefits with Etihad Airways,” said Tony Douglas, CEO, Etihad Aviation Group.

“NFTs and other metaverse technologies are revolutionizing the digital economy, and we are proud to be one of the first airlines in the world to explore their potential to provide additional benefits to our customers.”

Etihad said it will give away 20 NFTs to people who pre-register at etihad.com/zero1 by July 16. Each NFT will be priced at $ 349 plus tax on etihad.arcube.io, and the sale ends August 18 at 18.00 UAE time.

EY-ZERO1 is set to be stamped on the Polygon blockchain, and Etihad Airways will collaborate with Aerial.is to track CO2 emissions from the NFTs.

In addition to compensating for the entire carbon footprint of the project, the airline said it will allocate all proceeds from the fundraiser to purchase sustainable aviation fuel by 2022.

The Dubai airline Emirates said earlier this year that they plan to build brand experiences in the meta-version and launch NFTs.

What are NFTs?

NFTs are digital avatars of works of art and collectibles. Ownership of these digital assets is registered on a blockchain, which is a digital ledger. But unlike currencies, where each token is of equal value and can be exchanged with others, NFTs have unique qualities that prevent them from being interchangeable or interchangeable.

They can only have one official owner at a time. And since they are embossed and secured on the blockchain, no one can change the ownership protocol, not even copy and paste it into a new one.

Collectors of NFTs sent more than $ 37 billion of the digital assets to NFT marketplaces so far this year, according to a report from Chainalysis in May.

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