Indonesia’s state-owned postal company launches NFT-linked stamps

The NFT market has struggled since the start of the year, with research showing that 96 percent of digital collectibles have lost value. Despite this downturn, Pos Indonesia, the country’s state-owned postal service, has ventured into this space by linking its stamps to NFTs. This initiative aims to merge traditional collectibles such as stamps with innovative blockchain technology. Indonesia has ramped up its efforts in blockchain research and in September signed a Memorandum of Understanding (MoU) with Indian crypto advisory body, the Bharat Web3 Association, to collaborate on Web3 initiatives.

Pos Indonesia introduced a new limited edition stamp series featuring the ‘Cenderawasih’, also known as the birds of paradise. Each stamp in this exclusive collection is paired with a corresponding NFT counterpart, blending traditional philately with digital innovation.

The Postal Service announced its foray into the NFT space via an Instagram post, highlighting its commitment to embracing emerging technologies.

“PosIND, as the largest postal company in Indonesia, has launched the first NFT stamps in the country. This NFT stamp is a breakthrough innovation that combines the traditional value of stamps with advanced blockchain technology, making it a valuable potential digital asset for philately enthusiasts,” said the Instagram handle @posindonesia.ig.

The organization has introduced a QR code system, allowing interested buyers to easily scan and order these stamps via the Ciphers.me website. For collectors, the limited edition stamps will also be available in booklet form, as stated in the announcement.

During the 2022 Blockchain Expo in Amsterdam, the Dutch PostNL and the Austrian Post Office had also said they wanted to integrate NFTs with traditional stamps to revive people’s interest in stamp collections. report said by Cointelegraph.

In 2021, the UAE introduced NFT stamps priced at AED 250 (approximately Rs. 5,706) to commemorate the Golden Jubilee.

While India has not yet ventured into NFT-linked stamps, the Indian Railway Catering and Tourism Corporation (IRCTC) released vibrant NFT tickets for two trains in celebration of the Holi festival earlier this year.

According to the 2024 NFT report, NFTEvening said that 96 percent of NFTs currently have no trading volume, low sales, and no social media activity.

Explaining the situation, the report said: “The average lifespan of an NFT is now 1.14 years, which is 2.5 times shorter than the average lifespan of traditional crypto projects. This short lifespan reflects the intense speculative nature of NFTs, where rapid price fluctuations and the novelty of digital assets fail to sustain long-term value.”