Virtual NFTs Assets are being launched by the United Arab Emirates (UAE). Do the regulations in the UAE apply to them? In preparation for the new digital economy, the Airline is taking her first steps toward launching NFTs in the Metaverse. The launch aligns with UAE’s digital economy and virtual assets initiatives..
First Projects Already Underway
The UAE airliner Emirates has said it will soon launch non-fungible tokens (NFT) and “exciting experiences in the metaverse” for its clientele as well as its workers. According to the airliner, the move aligns with advances in the UAE’s digital economy as well as with the country’s virtual assets related initiatives.
In a recently released statement, the airliner suggested that work on the firsts projects is already underway with the “launch anticipated in the coming months.” Remarking on Emirates’ NFT plans, the airliner’s chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum pointed to his company’s history of embracing advanced technologies.
UAE’s Vision for the Digital Economy
Al Maktoum also shared what Emirates hopes to achieve with the launch of the NFTs. He said:
We are excited about the opportunities in the digital space of the future and are 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.
In order to help set Emirates on a path towards achieving these goals, the CEO said the airliner’s future-themed Emirates Pavilion at Expo “is being repurposed as a hub to develop cutting-edge future experiences aligned with the UAE’s vision for the digital economy.”
The airliner’s statement also said Emirates will continue to work with its partners on matters regarding its Web3 strategy.