NFT

UAE Airliner Emirates Launches NFTs and Metaverse Experiences

UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse

United Arab Emirates’ (UAE), airliner Emirates has announced plans for non-fungible tokens and experiences in metaverse to be launched for its employees and customers. This launch is in line with the UAE’s digital economy initiative and virtual assets initiatives.

First Projets Underway

Emirates, a UAE airliner, has announced that it will soon offer non-fungible tokens and “exciting experiences” in the metaverse for both its clients as well as its employees. The move is in line with developments in the UAE’s digital economy and with country’s related initiatives regarding virtual assets.

In a recently released statement, the airliner suggested that work on the firsts projects is already underway with the “launch anticipated in the coming months.” Remarking on Emirates’ NFT plans, the airliner’s chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum pointed to his company’s history of embracing advanced technologies.

UAE Vision for the Digital Economy

Al Maktoum also spoke out about the goals that Emirates has for the NFTs launch. He stated:

We are excited about the 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.

The CEO stated that Emirates’ future-themed Emirates Pavilion at Expo was being used as a hub for developing cutting-edge future experiences in line with the UAE’s vision of the digital economy .”

The airliner also stated that Emirates will continue to collaborate with its partners in matters relating to its Web3 strategy.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, author, and writer has been awarded the Zimbabwe Journalism Award. He has written extensively on the economic problems of certain African countries and how digital currencies can offer an escape route for Africans.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Nike is facing a lawsuit from people who bought its NFTs

Wes Davis is a weekend editor who covers the latest in tech and entertainment. He has written news, reviews, and more as a tech journalist since 2020.

A group of people sued Nike this week over its decision to wind down its virtual show project RTFKT last year. The buyers of the digital assets accuse Nike of causing “the rug to be pulled out from under them,” and say they wouldn’t have bought its NFTs if they’d known they were “unregistered securities,” reports Reuters.

Filed in New York’s Eastern District, the proposed class action lawsuit seeks “unspecified damages of more than $5 million for alleged violations of New York, California, Florida and Oregon consumer protection laws.”

Nike tried to jump into the NFT game by buying RTFKT in 2021. But, like Starbucks Odyssey, it never quite worked out and the company abandoned the idea, announcing in December via the RTFKT X account that it planned to “wind down RTFKT operations” by the end of January this year.

Since then, RTFKT has seemingly been maintained by a single person named Samuel Cardillo, who spent Thursday posting through the sudden disappearance (and later reappearance) of artwork for its CloneX NFTs project.