e&, formerly Etisalat, will launch its NFT collection
e&, previously Etisalat, has launched its own collection of non-fungible tokens (NFTs), becoming the first IT and investment conglomerate in the Middle East to enter the NFT craze.
According to the company, the first NFT collection will be delivered carefully, with the company offering additional updates as the NFTs' plans proceed.
The NFT collection demonstrates e&'s digital skills, as the company's blockchain arm surpassed AED 10 billion in transactions last year.
The digital collectibles also support the company's aim to create a difference at every touchpoint by developing and delivering best-in-class innovative solutions, leveraging sophisticated technology, and sustaining its cutting-edge infrastructure.
Hatem Dowidar, the Group CEO of e& states,
"The metaverse is allowing us to examine the digital universe in ways that were unthinkable just a few years ago. At this pivotal juncture in our history, we're excited to use our legacy in blockchain-enabled technology to introduce ground-breaking NFTs that will allow us and our clients to explore the metaverse's boundless potential."
In a word, NFTs are financial instruments that can be stored as digital data in a blockchain. They can also be traded in the same way as any other asset class.