The United Arab Emirates (UAE) became the first country in the Middle East to issue NFT stamps for citizens.
Emirates Post Group (EPG) issues NFT postage stamps to commemorate the 50th National Day of the United Arab Emirates.
UAE To Release NFT Stamps for National Day
Emirates Postal Group (EPG) has announced that it will issue digital NFT stamps that will be unveiled on the UAE’s national day, December 2.
However, EPG will be the first postal agency in the Middle East to issue NFT stamps. This further demonstrates the mainstream adoption of NFTs among government agencies.
Buyers will receive four stamps with different designs that resonate with the national theme and can view the design associated with the physical stamp they purchased by scanning the QR code printed on the stamp.
To activate the digital stamp on the blockchain, users will need to scan the QR code on the back of the physical stamp.
UAE’s Crypto Policies
EPG’s NFT move demonstrates the openness of government officials in the country towards crypto. Regulators in the UAE have taken a positive approach to crypto.
In September, UAE authorities created a new framework that makes it possible to engage in cryptocurrency trading and similar activities in the Dubai free trade zone. In October, Dubai Financial Services Authority also announced regulations regarding investment tokens.
Abdulla Mohammed Alashram, Group CEO of EPG, said:
“In line with EPG’s goal of transforming into a more digital-centric company, we are proud to announce the launch of the first NFT stamp in the region using blockchain technology. By introducing tradable NFT stamps, we bridge the gap between traditional stamps and the digital cryptocurrency world. ”
