In a first of its kind, Qantas has announced it is gearing up to release a new set of digital art collectables as non-fungible tokens.
Qantas is set to become the first ASX-listed company to embrace non-fungible tokens (NFTs).
The airline confirmed its NFT entry on social media on Monday, noting that “a new way to own a piece of Qantas history is on its way”.
“We’re looking to the future for our next collection of memorabilia,” Qantas said.
“Using blockchain technology, each piece of digital artwork will be one-of-a-kind allowing you to buy, own, collect and sell you unique tokens,” the airline continued.
It signalled that it’s targeting a mid-year release.
Moreover, Qantas confirmed that its NFTs will be released with net zero emissions, using low-carbon platforms and carbon offsetting.
NTFs are digital assets built on the same blockchain technology as bitcoin and ethereum. But unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. Instead, the tokens are unique asset identifiers that are considered to be non-fungible because they cannot be forged, replicated or divided.
Essentially, they function as a non-duplicable digital certificate of ownership for any assigned digital asset.
NFTs exploded in popularity last year, with deVere Group chief executive Nigel Green recently tipping the phenomenon could soon become a standard feature of investment portfolios.
He explained at the time that NFTs could act as a “major diversifier” in a portfolio, which makes them particularly appealing to investors.
“NFTs have a very low correlation to other assets, such as stocks and bonds, and can, therefore, lower your portfolio’s overall risk and volatility levels,” said Mr Green.
“I believe 2022 will be the breakout year for NFTs and, due the diversifier factor, within five years the decade’s hottest emerging asset class will become a standard feature of investment portfolios.”
About the author
About the author
Cryptocurrency
Investing in digital assets: A new avenue for earning
The digital age has introduced a plethora of new investment opportunities, ranging from cryptocurrencies and blockchain technology to digital art and tokenized assets. For investors in Australia ...Read more
Cryptocurrency
Navigating the crypto landscape: A beginner's guide to investing in Australia
Cryptocurrency has taken the world by storm, offering an innovative platform for digital assets and investments. In Australia, the crypto market has seen substantial growth, attracting both seasoned ...Read more
Cryptocurrency
Cryptocurrency losses mount as hacks and scams continue to plague the industry
The cryptocurrency industry has lost over $400 million to hacks in 2024 so far, with the decentralized finance (DeFi) sector being the most vulnerable, according to research by experts at Smart ...Read more
Cryptocurrency
Institutional investors bolster cryptocurrency allocations amidst growing confidence
A recent study by London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund, has revealed a significant shift in the mindset of institutional investors and wealth ...Read more
Cryptocurrency
Institutional investors set sights on expanding crypto portfolios in the coming year
New research from London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund manager, indicates a significant positive shift in institutional investors' attitudes ...Read more
Cryptocurrency
BingX reports significant growth and innovation in 2023 amidst industry challenges
BingX, a prominent crypto exchange, has disclosed notable achievements in 2023, amidst a backdrop of global economic uncertainty and sector-specific turbulence. The company has managed to double its ...Read more
Cryptocurrency
Altcoin interest skyrockets as Bitcoin and Ethereum boost market optimism, study finds
Interest in altcoins and other digital assets is on the rise, propelled by growing confidence in the performance of Bitcoin and Ethereum, according to a new study conducted by Nickel Digital Asset ...Read more
Cryptocurrency
Global survey reveals bullish outlook on next Bitcoin halving among institutional investors
A new global survey conducted by Nickel Digital Asset Management, a premier digital assets hedge fund manager based in London, has highlighted a growing positivity among institutional investors and ...Read more