Qantas is set to become the first ASX-listed company to adopt 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 the way.”
“We are looking to the future for our next memorabilia collection,” Qantas said.
“Thanks to blockchain technology, each piece of digital art will be one of a kind, allowing you to buy, own, collect and sell unique tokens,” the airline continued.
He said he was aiming for a mid-year release.
Additionally, Qantas has 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, these cannot be exchanged or exchanged for equivalence. Instead, tokens are unique asset identifiers that are considered non-fungible because they cannot be tampered with, replicated, or split.
Essentially, these function as a non-duplicable digital certificate of ownership for any assigned digital asset.
NFTs have exploded in popularity in the last year, with deVere Group chief executive Nigel Green recently saying 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, making them particularly attractive to investors.
“NFTs have a very low correlation to other assets, such as stocks and bonds, and therefore can reduce the overall risk and volatility levels of your portfolio,” Green said.
“I believe 2022 will be the pivotal year for NFTs and, due to the diversification factor, within five years the hottest emerging asset class of the decade will become a standard feature of investment portfolios .”
