Yahoo Finance Nippon Airways launches NFT marketplace
All Nippon Airways (ALNPY) has launched an NFT marketplace, making Japan's largest carrier the first airline group to venture into the sale of digital collectibles.
The aeronautical-themed non-fungible token (NFT) marketplace is being overseen by the firm's subsidiary, ANA Neo.
The web3 platform will feature a collection of digital originals created by aerial photographer Luke Ozawa, and is called the 'ANA GranWhale NFT Marketplace'.
A statement by ANA said: “From May 30, aerial photographer Luke Ozawa’s first digital photo will be converted to NFT.
"One of them will be sold with a positive film, which is the source of photo development. The price is 100,000 yen, and the NFT with positive film will be sold at auction."
Read more: Christie’s creates NFT marketplace on Ethereum blockchain
ANA's second collection of NFTs will be released on June 7, representing the NFT image conversion of the first Boeing 787 operated by the company.
“Selling as a 3D model airplane, there are 787 items each of the two types, for a total of 1,574 items, and the price is 7,870 yen," the ANA statement added.
The NFTs will be available for purchase via credit card on ANA's GranWhale NFT MarketPlace.
The company plans to broaden its offerings, with an aim to commercialise NFTs for specialty goods from various regions in Japan.
There has been a haemorrhaging of value in the NFT space throughout the latter part of 2022 and the beginning of 2023.
Check: Crypto live prices
This drop in interest comes as tech corporations like Meta (META) have stated that they are "winding down" their projects for NFTs on Facebook and Instagram.
The number of active NFT wallet addresses has declined, leading to a trade volume slump on the OpenSea NFT marketplace, which is seen as the Amazon (AMZN) of NFTs, according to data from blockchain-tracking software DappRadar.
Read more: Bored Ape Bar: Inside the $100,000 membership exclusive NFT club in London
However, OpenSea remain convinced the technology and attraction of digital collectibles will reach mass adoption.
"We're playing the long game because we see what's possible, so we're not that concerned about short-term volatility.
"We always expected frothiness, hype, and deflation as the community and use cases evolve, the tech gets more sophisticated, and creators figure out how to build more utility into their projects."
WATCH: Japan vies to be 'number one again through web3 innovation' | The Crypto Mile
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