Nippon Airways launches NFT marketplace
All Nippon Airways (ALNPY) has launched an NFT marketplace, making Japan’s largest airline the first airline to venture into the sale of digital collectibles.
The aeronautical-themed non-fungible token (NFT) marketplace is overseen by the firm’s subsidiary, ANA Neo.
The Web3 platform will feature a collection of digital originals created by aviation photographer Luke Ozawa, and will be called the ‘ANA GranWhale NFT Marketplace’.
An ANA statement said: “Starting May 30, aviation photographer Luke Ozawa’s first digital image will be converted to NFT.
“One of them will be sold with positive film, which is the source of photo development. The price is 100,000 yen, and the NFT with positive film will be auctioned.”
Read more: Christie’s is creating the NFT marketplace on the Ethereum blockchain
ANA’s second collection of NFTs will be released on June 7, representing the NFT image conversion of the first Boeing 787 operated by the company.
“Selling as a 3D model aircraft, there are 787 items each of the two types, for a total of 1,574 items, and the price is 7,870 yen,” the ANA statement added.
The NFTs will be available for purchase via credit card on ANA’s GranWhale NFT MarketPlace.
The company plans to expand its offerings, with a goal of commercializing NFTs for specialty goods from different regions of Japan.
There has been a loss of value in the NFT space through the latter part of 2022 and the beginning of 2023.
Check: Crypto live prices
This drop in interest comes as tech companies like Meta ( META ) have stated that they are “winding down” their projects for NFTs on Facebook and Instagram.
The number of active NFT wallet addresses has decreased, leading to a drop in trading volume on the OpenSea NFT marketplace, which is seen as the Amazon (AMZN) of NFTs, according to data from blockchain tracking software DappRadar.
Read more: Bored Ape Bar: Inside the exclusive $100,000 NFT club in London
But OpenSea remains convinced that the technology and the appeal of digital collectibles will reach mass adoption.
“We play the long game because we see what’s possible, so we’re not too worried about short-term volatility.
“We’ve always expected hype, hype and deflation as the community and use cases evolve, the technology becomes more sophisticated, and creators figure out how to build more utility into their projects.”
WATCH: Japan tries to become ‘number one again through web3 innovation’ | Crypto Mile
Download the Yahoo Finance app, available for apple and Android.