Etihad Airways will join the ranks of Qantas and airBaltic by launching its first non-fungible token collection (NFT), entitled “EY-ZERO1” on 16 July.
The series is set to focus on its fleet, with high-resolution 3D models of ten separate Etihad Boeing 787 Dreamliner livery, including the Manchester City Football Club and the “Greenliner” theme aircraft. The collection is limited, with only 2003 to be minted.
“We are pleased to launch our first NFT collection, the 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 further benefit our customers.”
The tokens will be available for purchase on etihad.arcube.io from 18.00 GST July 21 to kl. 18.00 GST August 18, each priced at $ 349 (plus tax). To celebrate the new collection, the airline will give away 20 to people who pre-register on their website by 16 July.
Purchases are also available for purchase through the Etihad Guest Rewards Shop, allowing members of the loyalty program to redeem their Etihad Guest Miles for an NFT.
All purchases come with a one-year membership for Etihad’s guest silver team and participation in a draw to take part in the chance to win one of ten free airline tickets.
In addition, Etihad’s NFT owners will have advance access to all future collections and metaverse products as part of the Web3 growth strategy.
In line with the commitments to sustainability, EY-ZERO1 will be characterized on the energy-efficient Polygon blockchain, with the airline collaborating with Aerial.is to track carbon emissions for each NFT.
Polygon is working specifically against net zero carbon emissions by the end of 2022, and drastically reduces the emissions produced by the embossing and transaction processes associated with the blockchain. Typically, just embossing an NFT can produce up to 48 kg of carbon dioxide, according to data obtained by Earth.org. However, Etihad’s collaboration with Polygon will compensate for the entire carbon footprint of the project, and invest the income back in the purchase of sustainable aviation fuel.
The token collection will focus on 3D models of Etihad’s Boeing 787 Dreamliner fleet, with different colors, including the iconic “Greenliner”. Photo: Etihad Airways
“In addition to recognizing the artistic value of our airlines, our NFT collection is designed to be as efficient as possible and support our broader sustainability and decarbonisation efforts at Etihad Airways,” he added. Douglas.
Etihad is not the only operator moving to invest in the blockchain. AirBaltic is known for its early use of cryptocurrency payments, and became the first airline to accept Bitcoin globally in 2014, but its progressive use of technology once again caught the media’s attention last year when it became the first airline to launch a number of NFTs. The collection focused on digital art with Latvia’s cultural and heritage sites as part of a tourism campaign, each sold for 1 ETH.
“NFTs are not only used for digital art transactions, but can just as well be extended to concert tickets and other unique one-offs, including airline tickets,” That’s what CEO Martin Gauss said at the time. “The issue of NFTs for limited collectors will serve as a tourism campaign for Latvian cities, certainly still an undiscovered destination for many.”
Several other airlines have since moved into the venture, including Qantas, which launched a series of aviation heritage-themed symbols set for launch “mid-year”, Air Europa and Emirates.
What are your thoughts on Etihad’s NFT collection? Are you going to buy one? Let us know in the comments.