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Qantas announces NFT entry

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In a first of its kind, Qantas has announced it is gearing up to release a new set of digital art collectables as non-fungible tokens.

Qantas is set to become the first ASX-listed company to embrace 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 its way”.

We’re looking to the future for our next collection of memorabilia,” Qantas said.

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“Using blockchain technology, each piece of digital artwork will be one-of-a-kind allowing you to buy, own, collect and sell you unique tokens,” the airline continued.

It signalled that it’s targeting a mid-year release.

Moreover, Qantas confirmed 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 traded or exchanged at equivalency. Instead, the tokens are unique asset identifiers that are considered to be non-fungible because these cannot be forged, replicated or divided.

Essentially, these function as non-duplicable digital certificate of ownership for any assigned digital asset.

NFTs exploded in popularity last year, with deVere Group chief executive Nigel Green recently tipping 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, which makes these particularly appealing to investors.

“NFTs have a very low correlation to other assets, such as stocks and bonds, and can, therefore, lower your portfolio’s overall risk and volatility levels,” said Mr Green.

“I believe 2022 will be the breakout year for NFTs and, due the diversifier factor, within five years the decade’s hottest emerging asset class will become a standard feature of investment portfolios.”

Qantas announces NFT entry

In a first of its kind, Qantas has announced it is gearing up to release a new set of digital art collectables as non-fungible tokens.

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Maja Garaca Djurdjevic

Maja Garaca Djurdjevic

Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.

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