In addition to the Bitcoin adoption, Emirates is also working on a plan for NFTs and Metaverse.
The recent correction in the crypto market hasn’t deterred some of the biggest industry players from accepting Bitcoin. Emirates Airline, one of the leading airlines in the United Arab Emirates (UAE), said that it plans to add Bitcoin as a payments service.
Emirates’ Chief Operating Officer of Emirates, Adel Ahmed Al-Redha, made the announcement on May 12 at the Arabian travel market. As a result, Emirates will appoint experts to work on their clients’ crypto needs and demands.
Interestingly, the announcement comes at a time when Bitcoin and the broader crypto market are facing a major crash. After heavy correction earlier this week, Bitcoin has partially recovered back above $30,000 once again.
Apart from Bitcoin adoption, the airline giant is also willing to test the waters with the world of non-fungible tokens (NFTs). As per reports, Emirates will add NFT collectibles to its website homepage. Allen Wei, global CEO of Lbank exchange tweeted:
“Emirates Airline is planning to accept Bitcoin as payments and launch an NFT trading platform. Don’t let the crypto dip scare you. Real adoption and transformation is continuing unabated for crypto”.
Emirates – Metaverse and NFT Plans
Emirates is all willing to deep dive into the world of metaverse and NFTs. The company also revealed its plans for the same. Speaking to local news publication Arab News, Emirates COO Al Redha said the company will hire more experts for building creative applications catering to their customer demands. Further, he explained the difference between the metaverse and NFTs adding:
“NFTs and metaverse are two different applications and approaches. With the metaverse, you will be able to transform your whole processes — whether it is in operation, training, sales on the website, or complete experience — into a metaverse type application, but more importantly making it interactive.”
Currently, there’s no specific timeline for when shall Emirates start accepting Bitcoin payments. But even if it starts now, it could be a good move considering Bitcoin has already corrected over 50% over the last eight months.
Bitcoin and the broader crypto markets have entered a steep correction. As long as the US equity market remains under pressure, recovery in crypto would be a distant dream.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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