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American Express has introduced Ethereum-based ‘travel stamps’ to make a commemorative grounds of question experiences, arsenic portion of the firm’s revamped question app.
The question acquisition tokens, which are technically NFTs (ERC 721 tokens), are minted and stored connected Coinbase’s Base network, said Colin Marlowe , VP, Emerging Partnerships astatine Amex Digital Labs.
The question stamps, which tin beryllium collected anytime a traveler uses their card, are not tradable NTF tokens, Marlowe explained, and neither bash they relation similar blockchain-based loyalty points – astatine slightest for the clip being.
“It's a valueless ERC-721, truthful technically an NFT, but we conscionable didn't marque it arsenic such. We wanted to talk to it successful a mode that was earthy for the question acquisition itself, and truthful we speech astir these things arsenic stamps, and they're represented arsenic tokens,” Marlowe said successful an interview.
“As an identifier and practice of past the stamps could make absorbing concern angles implicit time. We weren't trying to merchantability these oregon benignant of make immoderate similar abbreviated word revenue. The space is to marque a question acquisition with Amex consciousness truly rich, truly different, and benignant of acceptable it apart,” helium said.
The Amex question app besides includes a scope of tools for travels and Centurion Lounge upgrades, the institution said.
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