Faroe Islands Issues Conserved Digital Crypto Stamps In Blockchain As NFT

JAKARTA - The Faroe Islands have published a new series of digital "crypto stamps", with digital copies stored in blockchain as nonfungible tokens (NFTs) while still serving as actual stamps.

On June 23, the official Faroe Islands Post Service website for the issuance of stamps announced that this autonomous region had published its first collection of crypto stamps called Stamps of Maybe in collaboration with VariusSystems.

According to the postal service, each physical stamp has a digital version stored in the blockchain, which allows users to take part in the creation of these stamps, which adds to their uniqueness and privilege.

Michael Dorner, CEO of VariusSystems, stated after attending a meeting with the Universal Postal Union at the United Nations that he sees interest from countries around the world in the growing use of new technologies.

"We are feeling a huge interest not only in NFT stamps but also in blockchain technology and how this digital revolution with decentralized blockchain can help their business grow and stay ahead," Dorner said.

Pranko in the Faroe Islands collection is connected to Faroese local weather station Ve wayurstova Fryptoya, and uses real-time weather data at the time of activation to influence the display of the digital version of the stamp.

This is not the first time blockchain technology has been used by postal services to create stamps as NFT and revolutionize the concept of stamp collection, also known as filateli.

Dutch PostNL and Austrian PostAG have also published NFT crypto stamps. PostAG's first edition was launched in 2019 on the Ethereum blockchain, with another iteration in 2021 adding near-field communications chip functions for additional verification.

At the time, Dorner told Cointelegraph that a combination of NFT technology and the legacy of the collection of stamps created "collector 3.0."