Pos Indonesia, Indonesia’s state owned postal service, has introduced its first-ever postage stamps that includes a non-fungible token (NFT). This is a big step for the country as it blends its traditional postal services with the latest blockchain technology.
The announcement came on Pos Indonesia’s official Instagram page, where they introduced the NFT stamp design. This design includes the “Cenderawasih,” also known as the bird of paradise. These stamps are currently available as both physical version and digital NFTs. The collection comes both individually and in a booklet form. This can be lucrative to traditional and digital assets collectors.
This move is part of Indonesia’s long term plan to help the Web3 industry grow in the country. Earlier this year, Indonesian financial authorities announced their plans to launch a regulatory sandbox for crypto assets in early 2025.Â
Indonesia Unveils National Cryptocurrency Exchange & Futures Clearing House
The sandbox aims to create a safe environment for crypto developers of the country. It also allows them to experiment with crypto-related products while ensuring protection against fraud.
This launch of NFT stamps has come during a decline in the global NFT market. According to data from CryptoSlam, NFTs have come down to their lowest monthly sales volume since January 2021 this September.
The data showed a total volume of $296 million for the month, which is a 20% decrease from August. It also marks an 81% drop from the highest sales of $1.6 billion in March. Additionally, the number of transactions involving NFTs has reduced to 4.9 million in September from 7.3 million in August, marking a 32% decrease. Despite the current market challenges, the introduction of NFT stamps could reignite the interest in both stamp collecting and NFTs.Â
NFT stamps are not an entirely new concept. Other nations such as the United Arab Emirates, Austria and the Netherlands have already added NFTs into traditional stamp collecting. This helps them attract a new generation of collectors and enthusiasts.
On September 23, 2022, officials from the Netherlands’ PostNL and the Austrian Post Office spoke at the Blockchain Expo in Amsterdam. They discussed their project to boost stamp collecting. They released stamps with NFT versions, merging tradition with new technology to attract a wider audience.
