On Tuesday, Qantas announced that it would be launching a new collection of NFT digital art collectibles. These days, NFTs appear to be everywhere. From entertainment companies to sporting groups, everyone is launching their own line of NFTs.
These digital tokens not only produce cryptocurrency revenue, but they also enhance the user experience with the brand by granting access to the metaverse. Qantas is one of the companies that has implemented digital collecting tokens to improve their brand experience. The NFTs would reward their early purchasers with Qantas Points, which can be redeemed for plane tickets, in addition to improved visibility.
Because of the usage of blockchain technology, each piece of digital artwork will be one-of-a-kind, allowing consumers to buy, own, collect, and sell their one-of-a-kind digital objects. In February 2018, AirBaltic launched its NFT collection, which featured numerous Latvian cities in honour of the country’s centennial. They released 100 extremely uncommon NFTs for 0.05 ETH each.
In the same year, Emirates Airlines stated that five countries were testing a new COVID-19 health passport based on blockchain technology. These non-fungible health certificates would be recorded on the blockchain and would be impenetrable to tampering. Despite the fact that AirBaltic was a year ahead of Qantas in launching the NFT, Qantas will be the first to give loyalty points to the original purchaser of the airline’s NFT.
An NFT is a unique digital asset that can’t be duplicated. They’re commonly used to represent digital and non-digital goods like documents, audio files, video clips, and artwork. With a split graphic of the airline’s iconic Boeing 747 in two recognised liveries, the airline’s NFT website teases the impending launch. In the meantime, Qantas has committed that its NFTs will be distributed with net-zero emissions via low-carbon platforms, anticipating any backlash from environmentalists over the use of environmentally dubious blockchain technology transactions.