29 May

|

7:56 AM UTC
29 May

|

7:56 AM

UAE Launches the World’s Most Expensive Modern Postage Stamp

UAE Launches the World’s Most Expensive Modern Postage Stamp

UAE has made blockchain technology a key focus for its future strategies and is currently building a decentralized ecosystem to make it a global blockchain hub.

The United Arab Emirates has launched the world’s most expensive modern postage stamp to celebrate the 50th anniversary of the country’s Foundation Day.

Emirates Post Group, a government-owned post office launched the first edition of the modern postage stamp with four editions. Each physical stamp in the collection comes with a digital version.

The most expensive edition is the “Golden Jubilee 2021,” which has a total of 2021 pieces and costs a 2021 AED ($550 USD). Each stamp contains one gram of gold.

The second stamp is called the “Spirit of the Union — 1971,” which symbolizes the establishment of the UAE by the founding fathers. Guess what, the third stamp is “Year of the 50th — 2021” while the fourth is the “Projects of the 50th 2071,” representing the futuristic vision of the UAE.

The other three collections are relatively cheaper and cost about 250 AED ($68) for each nonfungible token (NFT) postage stamp.

Cointelegraph reached out to the CEO of the post group Abdullah Al Ashram to understand the idea behind the launch of digital collectible postage stamps. Ashram explained that the decision was made to celebrate the anniversary of the Founding Day and anyone from around the world can buy it.

“It’s definitely a part of the broader strategy and blockchain will be the key to many projects at Emirates Post Group.”

The launch of the NFT postage stamps made the Emirates Post Group the only p in the Middle East and North Africa to do so. Blockchain has become a key part of UAE’s business strategy over the past year.

Source: Cointelegraph

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