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The non-fungible token market, which became oversaturated with low-quality projects and speculative investments, leading to a loss of trust among investors and enthusiasts, has started regaining a foothold again in various sectors. This time around, NFT technology is finding use cases in real life to revitalize services and delivery. Indonesia has leveraged this new technology to launch its first NFT stamps.
Indonesia Launches First NFT Stamps
In a recent Instagram post, the Indonesian National Post Office confirmed launching the country’s first NFT postage stamp. The Indonesian postal body unleashed its project during its 79th anniversary event in Bandung, Indonesia. The Indonesian National Post Office has joined hands with the Indonesian Ministry of Communications and Information to launch its new NFT stamps.
Based on site publication, the new NFT post stamps are valued at approximately $9.90 and feature the image of the Cenderawasih bird, also known as the bird of paradise. The species is known for having large multi-colored feathers and are native to the Papua island of Indonesia. In a short presser after the launching, Faizal Rochmad Djoemadi, the Director of Pos Indonesia, explained that the new NFT stamps are specially designed for mail senders and will replace the legitimate stamp initially used for sending packages or letters.
Djoemadi strongly believes that creating NFT stamps will attract the younger generation’s interest in stamp collecting and, in return, generate more interest in the country. He added that the stamp will also be issued in physical form so that collectors can have a physical copy along with the NFT. Before summering, the top executive noted that the NFT stamps would reduce fake stamps in the mail portal sector.
Indonesia Joins Thailand & Malaysia In NFT Adoption
In the meantime, the NFT stamp can be bought through the Indonesian Post Office’s website by scanning a QR code that will take potential buyers to a Google form link, where they can order the number of NFT stamps they require. This new NFT stamp marks Indonesia’s first time creating a stamp that utilizes blockchain-based technology. Indonesia joins Southeast Asian countries like Thailand and Malaysia, which have already released digital postage stamps as NFTs.
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