Emirates Airline to Expand Into the Metaverse and Launch Own NFTs - Bloomberg

Emirates Airline to Expand Into the Metaverse and Launch Own NFTs - Bloomberg

An Airbus A380-861 operated by Emirates takes off. 

Photographer: Bruce Bennett/Getty Images

Emirates unveiled plans to expand the airline’s use of the Metaverse and launch NFTs, a plan intended to boost revenue and improve customer service.

An NFT, or nonfungible token, is a unique asset -- often digital art -- that is registered on a blockchain. They have attracted growing interest from institutions outside of the cryptocurrency industry as a means to raise funds and awareness.

Emirates’ NFTs are set to be both collectible and utility-based, according to a statement on Thursday. Nike Inc. unveiled a similar plan with the acquisition of a virtual collectibles company in December.

The airline also plans to turn its pavilion at Dubai’s Expo into an innovation center that focuses on “future-focused projects,” including those related to the Metaverse, NFTs and Web3.

Emirates is “committing a significant investment in financial and resourcing terms to develop products and services using advanced technologies,” said Chief Executive Officer Saeed Al Maktoum. “That will deliver on revenue, brand experience and business efficiencies.”