According to Cointelegraph, Indonesia’s state-owned postal service Pos Indonesia has launched its first stamp with a non-fungible token (NFT), called “Bird of Paradise.” The stamp will have both a physical version and an NFT version and will be released in a booklet.
Pos Indonesia said the new stamps combine traditional values with blockchain innovation and are designed to attract enthusiasts. The move is in line with Indonesia’s growing involvement in the Web3 space.
Indonesia’s financial authorities plan to launch a regulatory sandbox for crypto assets in early 2025 to prevent fraud.
The launch of the NFT stamps comes at a time when interest in digital collectibles is declining. In September, NFT sales fell to their lowest level so far in 2021, at just $296 million, down 20% from August and 81% from March.
The number of NFT transactions also fell from 7.3 million in August to 4.9 million in September, a decrease of 32%.
NFT stamps are not a new concept. In 2021 and 2022, organizations in places like the UAE, Austria, and the Netherlands attempted to revive stamp collecting by incorporating blockchain technology.