This week, the airline industry took aim at NFTs and the Metaverse, joining the growing list of industries seeing boundless opportunities with Web3.
Leading U.S investment banks have also been bullish on the Metaverse. In February, JPMorgan projected a $1 trillion Metaverse.
This week, Emirates announced plans to launch NFTs and enter the Metaverse. Emirates intends to invest $10 million into the digital world, targeting customers and employees.
According to the announcement, the airline “plans to build signature brand experiences in the Metaverse, alongside both collectible and utility-based NFTs.”
The first projects are reportedly in the works, scheduled for launch in the coming months.
Chairman and CEO HH Sheikh Ahmed bin Saeed Al Maktoum said,
“Dubai and the UAE are blazing the way in the digital economy, having a clear vision supported by practical policies and regulatory frameworks in areas such as virtual assets, artificial intelligence, and data protection”
He added,
“Emirates has always embraced advanced technologies to improve our business processes, enhance our customer offering, and enrich our employees’ skills and experiences. We are excited about the new 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.”
NFTs and the Metaverse offer airlines and the aviation industry incredible opportunities.
For the airline industry, NFTs could be used for ticketing and to record journeys. NFTs could store flight time, distance traveled, etc. The Metaverse can provide even more exciting opportunities, including virtual lounges.
Emirates may be ahead of the curve when it comes to the airline industry. In 2021, Emirates became the first airline to launch a VR app. The app allows users to view cabin interiors onboard the Airbus A380 and the Boeing 777-300ER Gamechanger.
For several years, customers have also been able to view their seats and check in with a 3D seat map.