UAE Telecom Firm e& Launches First NFT Collection
The growing interest surrounding NFTs has become inevitable, the blockchain technology allows you to buy digital assets with a certificate of authenticity and ownership. We have already witnessed regional digital artists including Aya Tarek and Kristel Bechara launching their exceptional NFT collections. Yet, what was assumed to be a passing fad now has established companies from various industries pitching in. The rise in popularity amongst art collectors, tech enthusiast and even billionaires has unlocked potential for major companies to follow through with the hype over NFTs. Speaking of regional companies, UAE telecom company e&, formerly known as Etisalat Group, has announced the Middle East’s first collection of non-fungible tokens.
About the collection
The NFT collection was designed and sourced in the UAE, with the first set planned to be distributed selectively. What we know is that the collection will be inspired by the company’s three core pillars of networking, telecommunication and digital transformation. e& will provide more information later in the process as its NFT plans develop further. The company considers this a progressive milestone as they become the first technology and investment conglomerate in the region to launch NFTs. Commenting on the NFT collection, Hatem Dowidar, CEO of e& said, “the NFTs designs were sourced in the UAE, where we are keen to support the local development of new products, technologies and solutions. This is a unique opportunity to celebrate how far we’ve come as a company and to continue exploring what’s next on the horizon. We live in the renaissance of connectivity where we must capitalize on every opportunity that strengthens our continued leadership as the champion digital telco in a hyper-connected world.”
Who’s behind the collection ?
e& is the company behind the first telecom NFT collection. e& was previously known as Etisalat Group after changing their identity back in February 2022. The company is committed for providing digital services for customers and bringing advanced and next generation technologies to the UAE. e& has shown solid performance since changing their identity into a global technology and investment conglomerate February and they have continued to offer innovative tech solutions to it’s customers. The company appears to be on track and are looking to diversify their portfolio through investing in the NFT market, with their AED 10 billion investment in blockchain technology last year.
Lightspeed 5G
In their press release, e& explained the importance of 5G technology for their NFT collection. For the NFT industry, 5G technology is a key partner and there are several benefits to it. That is because it offers low latency, light speed and reduced capacity that provides the ability for art collectors to experience complex interactive and immersive images rather than simple static images. Also, the network that supports NFTs must provide extremely fast connection to enable accurate bidding on the NFT to the nearest millisecond. Furthermore, a 5G network provides comprehensive security mechanisms to protect the precious asset and finally allows the owner constant and reliable access regardless of the NFT data size.
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