Technologies

Qantas announces entry into NFT

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Qantas is about to become the first ASX-listed company to accept 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 the way.”

We look 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 unique tokens," the airline continued.

It has signaled that it is targeting a mid-year release.

Qantas has also confirmed that its NFTs will be launched with net zero emissions, using low-carbon platforms and carbon offsets.

NTFs are digital assets built on the same blockchain technology as Bitcoin and Ethereum. But unlike cryptocurrencies, they cannot be traded or exchanged at par. Instead, tokens are unique asset identifiers that are considered irreplaceable because they cannot be forged, replicated, or divided.

In essence, they function as a non-duplicated digital certificate of ownership for any assigned digital asset.

NFTs exploded in popularity last year, with deVere Group CEO Nigel Green recently hinting that the phenomenon could soon become a standard feature of investment portfolios.

At the time, he explained that NFTs can act as a "major diversifier" in a portfolio, making them particularly attractive to investors.

"NFTs have a very low correlation with other assets, such as stocks and bonds, and can therefore reduce the overall risk and volatility levels of your portfolio," Mr Green said.

"I believe that 2022 will be the breakthrough year for NFTs and, due to the diversification factor, within five years the hottest emerging asset class of the decade will become a standard feature of investment portfolios.”

Maja Garatsa Djurdjevic

Maja Garatsa Djurdjevic

Maya's career in journalism spans more than a decade in finance, business and politics. Already an experienced editor and reporter in all elements of the financial services sector, before joining Momentum Media, Maya reported for several established news outlets in South East Europe, looking at key processes in post-conflict societies.


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