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Etihad Airways is getting into the NFT world, and is offering elite status to those who make a purchase.
In this post:
Etihad Airways will be launching its first non-fungible token (NFT) collection, named “EY-ZERO1.” The collection will feature ten detailed 3D aircraft models, each showcasing a unique Etihad Boeing 787 livery. A total of 2,003 NFTs will be available for sale (with 2003 also being the year in which Etihad was founded).
EY-ZERO1 will be minted on the Polygon blockchain, and Etihad Airways will partner 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.
That’s quite an interesting angle. So Etihad is using environmentally unfriendly NFTs in order to fund its environmental projects?
INTRODUCING EY-ZERO1
A collection of exclusive NFT’s launching 21 July 2022.
We’re taking off to the digital world 🚀@arcubenft @etihadnft
Find out more https://t.co/Tbks4YgBWt pic.twitter.com/pP3RclSQdZ
Here’s how Tony Douglas, the CEO of Etihad Group, describes this development:
“We’re excited to launch our first NFT collection, EY-ZERO1, which not only offers collectors, aviation enthusiasts and travellers a unique work of art, but provides real-world travel and lifestyle benefits with Etihad Airways.”
“NFTs and other metaverse technologies are revolutionising the digital economy, and we are proud to be one of the first airlines in the world to explore their potential to provide additional utility for our customers.”
“As well as recognising the artistic value of our aircraft liveries, our NFT collection has been designed to be as efficient as possible and support our wider sustainability and decarbonisation efforts at Etihad Airways.”
Etihad Airways’ NFTs will go on sale at 6PM UAE time on July 21, 2022, and the sale will remain open through August 18, 2022, pending availability.
Each NFT will be priced at $349 plus tax, and can be purchased at etihad.arcube.io. Etihad will be giving away 20 NFTs to people who pre-register on etihad.com/zero1 before they go on sale.
Those who purchase an Etihad Airways NFT will also immediately be given Etihad Guest Silver status for one year, and 10 winners will even win complimentary flight tickets with Etihad. So this is essentially a way to purchase Etihad Guest Silver status for $349, if nothing else.
The catch is that the benefits of Etihad Guest Silver status are fairly limited, though there are some potentially useful perks. This includes 25% bonus miles, priority check-in, lounge access in Abu Dhabi, extra baggage, and free standard economy seat assignments (since Etihad is basically a low cost carrier at this point).
Etihad Airways is one of the first airlines to get into the NFT world. Perhaps most interesting to many, this is an opportunity to purchase Etihad Guest Silver status for $349.
I don’t know the first thing about NFTs. I did just finish reading a book on Bitcoin (simply because I wanted to learn), and I’m more confused after finishing it than I was before. I also felt like I essentially attended a cross between a timeshare presentation and a cult meeting. Anyway…
Who’s buying Etihad NFTs?!
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I’ve been following you for 10 years, back then half the tech we have now would have seemed impossible, in another 10 years crypto will have a place in society, the biggest banks around the world are investing is blockchain technology, chase bank has created their own private block chain for internal use for example and are working on being able to send 10s of trillions of dollars in assets across the world right now…
I’ve been following you for 10 years, back then half the tech we have now would have seemed impossible, in another 10 years crypto will have a place in society, the biggest banks around the world are investing is blockchain technology, chase bank has created their own private block chain for internal use for example and are working on being able to send 10s of trillions of dollars in assets across the world right now more efficiently… honestly my favorite example of why crypto could help the world once perfected… billions of people on are planet are unbanked because they can’t trust their country or their countries currency…. Crypto could help solve this by eliminating the third party (banks for example) and letting people hold their own money digitally… you’ve travelled around the world you should know this better than anyone…. Tell me how people in countries like Somalia or North Korea can trust their personal fund with their government, but if you hold total control of your assets and can send freely with out restriction, especially across the world with low fees (like Hispanic people working in America sending money back home wouldn’t have to pay those fees to moneygram) makes it much easier to have a globalized fair economy.
Ben I don’t expect you to know anything about NFTs but crypto as a whole uses tremendously less energy than current methods…. Think about energy and manpower it takes to excavate gold and send it vs sending digital money like you send money on Zelle there’s no way there comparable.
Selling NFTs (or any supposed collectable) in limited amounts reminds me of the Franklin Mint (if you have enough gray hairs you remember their ads). They advertised that they were selling only a limited number of whatever crap they were offering — the joke of course was that the number was limited to the number of suckers who would pay for their wares.
In reality, crypto currencies (and I believe NFTs) are basically unregulated securities. People buy them because they plan to sell them at a higher price — they are not based on anything with an underlying value such as ownership of a company. Caveat Emptor
If “they are not based (secured) on anything”, they are therefore by definition not “securities”…
Cool! I can dump my declining crypto for these sure-to-be invaluable pieces of air! Yay!
“(since Etihad is basically a low cost carrier at this point).”
How is Etihad being considered a low cost carrier? I’m confused by this statement. Because they charge for seat assignments in economy?
I don’t see any value here unless you are from Abu Dhabi and want memorabilia or want Etihad Silver status. An NFT with a count of 2,003 is quite a large and common batch.
Digital scarcity creates value so you either want Bitcoin which there will only ever be 21 million or an NFT with less than 25 minted.
Ah NFTs! Like bitcoin and the rest of the crypto nonsense, nothing more than a ponzi scheme advocated by and for idiot celebrities and unsuspecting investors. What a joke.
The Polygon blockchain uses proof-of-stake so is not environmentally unfriendly like Bitcoin. Please do some research before including incorrect info in articles
@ Thulgar — I’m going off what Etihad is saying here, about “offsetting the entire carbon footprint of the project.” Could you enlighten me as to what Etihad would be offsetting, then?
@Ben See article link below for an explanation of the difference between Proof-of-Work (Polygon -e.g. these Etihad NFTs) and Proof-of-Stake (Bitcoin).
This is actually very cynical of Etihad. The carbon footprint for these NFTs will be very small (i.e the cost of running a normal server) – precisely because they use Proof of Stake tech. Etihad won’t have to pay much to offset these.
https://www.coindesk.com/learn/proof-of-work-vs-proof-of-stake-what-is-the-difference/#:~:text=Proof%2Dof%2DStake%3A%20Which,them%20in%20return%20with%20crypto.
@Ben See article link below for an explanation of the difference between Proof-of-Work (Polygon -e.g. these Etihad NFTs) and Proof-of-Stake (Bitcoin).
This is actually very cynical of Etihad. The carbon footprint for these NFTs will be very small (i.e the cost of running a normal server) – precisely because they use Proof of Stake tech. Etihad won’t have to pay much to offset these.
https://www.coindesk.com/learn/proof-of-work-vs-proof-of-stake-what-is-the-difference/#:~:text=Proof%2Dof%2DStake%3A%20Which,them%20in%20return%20with%20crypto.
@Thulgar
What are you talking about ? Cardano just went hydrabolic capable of 1,000 transactions per second per each coin staked. Perhaps you should do some homework.
@D3kingg
Don’t know what you are talking about. Cardano has nothing to do with these NFTs as they are being minted on Polygon.
“ a cross between a timeshare presentation and a cult meeting”
Add “Ponzi scheme” and you nailed it!
I came to say something similar…”Oh, so EY is now in the MLM game? What non-product are they going to be scamming people with. Clearly NFTs. What’s the recruitment compensation plan going to look like? Who’ll be the first Super Platinum Diamond VP?”
What a joke.
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Selling NFTs (or any supposed collectable) in limited amounts reminds me of the Franklin Mint (if you have enough gray hairs you remember their ads). They advertised that they were selling only a limited number of whatever crap they were offering — the joke of course was that the number was limited to the number of suckers who would pay for their wares.
Cool! I can dump my declining crypto for these sure-to-be invaluable pieces of air! Yay!
@Thulgar What are you talking about ? Cardano just went hydrabolic capable of 1,000 transactions per second per each coin staked. Perhaps you should do some homework.
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