Indonesia Post Launches NFT Stamps
Pos Indonesia, the state-owned postal service of Indonesia, has launched its first-ever postage stamps featuring non-fungible token (NFT) counterparts, blending tradition with modern technology.
In an Instagram announcement, Pos Indonesia introduced its inaugural NFT stamp collection, themed "Cenderawasih" or the "bird of paradise."
The collection includes both physical stamps and their NFT counterparts, along with a booklet edition.
The new stamps combine traditional elements with blockchain innovation, which the postal service believes could appeal to collectors and tech enthusiasts alike.
This initiative aligns with Indonesia's growing participation in the Web3 space.
Earlier this year, on March 28, Indonesian financial authorities announced plans to implement a regulatory sandbox for crypto assets by early 2025, aimed at reducing fraud.
Pos Indonesia's introduction of NFT stamps comes during a period of declining interest in digital collectibles. In September, NFT sales hit their lowest monthly volume since January 2021.
Data from CryptoSlam showed a sales volume of $296 million, a 20% drop from August and an 81% decline from the peak in March when sales reached $1.6 billion.
The number of NFT transactions also decreased by 32%, from 7.3 million in August to 4.9 million in September.
NFT stamps are not a completely new concept. In 2021 and 2022, various organizations sought to reignite global interest in stamp collecting by incorporating NFTs.
Entities in the United Arab Emirates (UAE), Austria, and the Netherlands launched initiatives to combine blockchain technology with traditional stamp collections.
On June 17, 2022, the UAE celebrated its 50th anniversary by releasing the world’s most expensive modern postage stamp, which included one gram of gold and came with an NFT version.
In September 2022, Cointelegraph spoke with representatives from the Netherlands' PostNL and the Austrian Post Office at the Blockchain Expo in Amsterdam.
The organizations partnered to launch postage stamps with NFT counterparts as part of their efforts to revive stamp collecting through blockchain technology.
Sources:
https://cointelegraph.com/news/indonesian-postal-service-launches-nft-stamps
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