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Austria Post Launches ‘Crypto Stamp’ Collectibles on the Ethereum Blockchain

P. H. Madore
In a first, Austria's national postal service is launching digital collectible stamps powered by Ethereum. | Source: Austria Post/Shutterstock; Edited by CCN
In a first, Austria's national postal service is launching digital collectible stamps powered by Ethereum. | Source: Austria Post/Shutterstock; Edited by CCN

By CCN Markets: Stamp collecting just entered the 21st century, as the Austrian Post Office unveiled its limited edition ‘crypto stamp’ collectibles, powered by the Ethereum blockchain.

Send Your Stamp, Keep A Collectible Crypto Stamp

A limited 150,000 unit run of five different stamps – black, red, blue, yellow, black – allows the owner to use a physical stamp, but then save its image in their wallet. According to a Reddit user, the distribution is as follows: 1,500 red stamps; yellow, 10,000; blue, 20,000; green, 40,000; black, 78,500. The stamps retail for 6.90 Euro, meaning the entire project will bring in just over $1 million.

Austria post, crypto stamp
Austria post, crypto stamp

The collectibles will be stored on Ethereum’s public blockchain. | Source: Shutterstock

The “Crypto Stamp” is the first use case for non-fungible tokens launched by a government so far, making it a milestone. The pilot’s success will help determine the future for NFTs, which can now be issued across multiple Ethereum token standards.

Recently completed ERC-1155 enables developers to issue vastly cheaper fungible and non-fungible tokens. The stamps use Ethereum’s first NFT standard, ERC-721. Invented by Enjin’s Witek Radomski, ERC-1155 can best be described as a hybrid of ERC-20 and ERC-721. The standard was important for Enjin, who facilitate a gaming marketplace and development tools for people looking to build games on the Ethereum blockchain. EnjinCoin recently pumped when it was announced as a Samsung partner.

Read the full story on CCN.com.