News JVTech Stamp collectors will soon have to get into NFTs
Published on 22/11/2022 at 17:20
Non-fungible token technology (NFT) is not just about pictures of virtual monkeys like Bored Ape Yacht Club. As a true digital certificate of ownership, these expand the scope of possibilities for various sectors. La Poste has understood its challenges and will therefore be offering postage stamps in NFT soon.
NFT stamps? the astonishing project of La Poste
While the NFT market is not looking good due to the fall of cryptos, multiple projects around the technology continue to be created in the shadows. Ever since the speculative bubble around virtual art collections in the form of NFTs burst, some fields are scrambling to find a use for these virtual certificates of ownership.
As a reminder, an NFT is a token associated with a digital or physical object. This is based on the blockchain (in this case Tezos), in order to guarantee the uniqueness and ownership of an object on the Internet.
Therefore, the different characteristics of these famous digital tokens could be useful in the production of postage stamps. Concretely, the goal is to associate the physical stamps with a virtual double in NFT, registered on the Tezos blockchain. This method will add a layer of security in the authentication of the physical stamp. Thus, when a buyer purchases this type of stamp, he will also buy its virtual version.
This double purchase will probably have practical effects. For example, the stamp can be destroyed while its NFT cannot be erased, not even from its owner since the blockchain does not allow it.
These innovative stamps will be launched in blocks at a price of €8 on February 7, 2023. Printed in 100,000 copies, they will only be available online, on the La Poste website. This first collection in NFT will be followed by others during the year.
Frédéric Morin, deputy director at Timbre’s collection subsidiary, Philaposte, was however clear: he intends to rely on technology to “make this block above all a physical collector’s item”.
Post and the web 3
The postal transport company is not at its first attempt with NFTs. Last June, La Poste announced the launch of their first NFT collection.
To do this, they took advantage of the VivaTech show with the support of industry giants such as the Binance cryptocurrency platform.
These first tokens, entitled “Faces of France by postmen”, were short videos featuring French citizens photographed by La Poste postmen. This initiative was charitable and all the funds raised had been donated to the Red Cross.
These different experiments with technology are not isolated. Indeed, several postal services already offer stamps in the form of NFT. Also, some NFT proponents are very positive that traditional institutions like these are interested in the technology.