Nowadays it's easier to ask who *isn't* getting into NFTs. The crypto/NFT downturn is clearly not dissuading big businesses from venturing into the space. The latest of which is Abu Dhabi-based carrier Etihad Airways. The airline announced the upcoming release of its first non-fungible token (NFT) collection, ‘EY-ZERO1’.
The utility-driven series features ten highly detailed 3D aircraft models, each one showcasing a unique Etihad Airways Boeing 787 Dreamliner livery. A total of 2003 limited-edition collectables, symbolising the year when Etihad Airways was established, will go on sale at 6 pm UAE time on 21 July. The collectables include Etihad’s Manchester City FC and Greenliner-themed aircraft, among others. Purchasers of an Etihad NFT will be granted Etihad Guest Silver tier membership for a year, while 10 NFT holders will win flight tickets.
EY-ZERO1 is set to be minted on the energy-efficient Polygon blockchain, and Etihad Airways will be partnering with Aerial.is to track the CO2 emissions of the NFTs. In addition to offsetting the entire carbon footprint of the project, the airline will allocate all proceeds from the collection to purchase sustainable aviation fuel in 2022. The NFTs will also be available to purchase through the Etihad Guest Reward Shop, meaning the airline’s 7 million loyalty programme members can redeem their Etihad Guest Miles to acquire an NFT.
Why it matters
Despite the crash in NFTs businesses are still seeing worthwhile value within them. NFTs are seen as a new way to brand build and introduce a newer tech-savvy consumer base to its products. Etihad is clearly one not to be outdone as its UAE rival Emirates, announced their intentions to build brand experiences with the metaverse and launch NFTs.
