Emirates plans to expand the airline’s use of the metaverse and launch NFTs to increase revenue and improve customer service, it said in a statement on Thursday.
The NFTs are designed to be both collectible and utility-based, and the first projects are already underway, with launch anticipated in the coming months, it said.
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Emirates added that its Emirates Pavilion at the Dubai Expo 2020 site will be repurposed as a center for innovation and future-focused projects involving the metaverse, NFTs and web3.
CEO and chair Saeed Al Maktoum said: “Dubai and the UAE are blazing the way in the digital economy, having a clear vision supported by practical policies and regulatory frameworks in areas such as virtual assets, artificial intelligence, and data protection.”
He added that the company is “committing a significant investment in financial and resourcing terms, to develop products and services using advanced technologies that will deliver on revenue, brand experience, and business efficiencies.”
The Block reported last month that Binance had become the latest firm to be granted a virtual asset license in Dubai, following FTX.
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