Austria Leads European Tech Innovation With NFT Stamp Art, Despite Crypto Winter

Author: Christ Makridis

However, in the year By 2022 2022 NFTs will launch in a simple use case: stamps. After launching its new app Crypto Stamp Art for the first time in Austria with Austria Post in 2019, VariusSystems, a leader in digital IDs and NFTs, has announced its expansion to the Netherlands and the United Arab Emirates (UAE). United Arab Emirates ) will continue for the next few years. All three countries have the NFT stamp on their medium and long-term strategic plans. Many countries in Europe, Africa and Asia are actively studying cryptotokens.

Crypto stamps and service art in the real world

NFTs have become an incredible validation tool for digital art and music, helping to earn Collins Dictionary's 2021 NFT Word of the Year: Everdays by Beeples for $69.3 million, Human One by Beeples for $28.9 million, and Cryptopunk for $4,151. million. in 2021 to name a few. But the art of NFT is just one of many uses.

The true utility of NFTs lies in their ability to verify ownership of assets in an immutable distributed digital ledger. This ability helps prevent fraud on certain physical assets, which has given rise to the term "physical" to describe the relationship between physical and digital assets on the blockchain.

"NFTs are a lot of fun to collect and work with as art, but they're only a small part of consumer inhibitions ... At the end of the day, we all interact with NFTs because they can be. Our airline tickets, our membership cards, and more," said Gary VaynerX, president of VaynerX and CEO of VaynerMedia. they are.

Because of the importance of verifying the authenticity of physical messages, the art of cryptographic seals became useful for NFTs. “Crypto Rooster is the first use case for the Austrian Post to dip its toes in the water and use blockchain technology. It's like a simple, familiar product where we can explore new areas, learn to ask the right questions, and come up with new ideas before moving on to more advanced products. The application areas are unlimited; Our goal is to be successful and remain the market leader," says Patricia Liebermann, Austria Post's Field Director.

For example, the United States Postal Service reported a 161 percent increase in mail fraud complaints between March 2020 and February 2021. In addition, stolen checks increased by 400 percent from 2019 to the end of the year. A study by Professor David Maimon at George State.

In addition, mail fraud is often one of the main reasons for tax evasion, which accounts for 16% of all European taxes, because people can show different identities in different countries.

Blockchain-based cryptographic NFT stamps with a physical digital counterpart were first introduced by Austria Post in 2019. They added new works of art and reinterpreted Austria's most expensive "Mercury Cinnabar" of 1856. Being one of the most successful NFT projects in the world, selling nearly one million crypto tokens.

Buyers will not only receive a limited edition physical stamp, but also a digital mystery box containing four additional rare NFTs. Physical assemblies are connected using Field Communication (NFC) embedded in the final product. "For example, products securely connected to NFTs via NFC chips can be easily verified on the blockchain, allowing users to verify the authenticity of the product," said Michael Dorner, CEO of Varius Systems. and President of the International Association of Map Makers.

Crypto stamps in their current state do not prevent mail fraud, as the current stamp lacks NFC, collectors are intended to be the first step towards the creation of physical mail NFTs. The location of the NFC on the seal itself depends on the design and customer needs.

Use cases don't end with seals; NFC can be used in any physical product. "The mileage of the cars of the future will be recorded and stored on the blockchain, which will prevent fraudsters from selling cars with fake odometers ... All maintenance and repair intervals will be stored on the blockchain, so no one can. Sell a broken car or even a watch, or a luxury bag, or any product." .. out of the end user's view, it evolves behind the scenes," Dorner continued.

where is germany

Crypto tokens are taking the world by storm, especially after Austria's success since 2019, when Austria and the Netherlands sold more than 800,000 tokens. "After meeting with many postal leaders from around the world at the United Nations Universal Postal Union meeting in Frankfurt earlier this week, we felt a huge interest not only in NFT stamps, but also in blockchain technology. Countries around the world, from Iceland to Togo, from Portugal to Singapore, are using this decentralized digital blockchain. They want to know how Revolution can help them grow their businesses and stay ahead,” Dorner said.

Given the prominence of Germany and France in the EU, many wonder if they will explore the use of cryptographic stamps among other NFT applications. The value added in German industry was about 20% of GDP in 2021, so NFTs have a significant impact in reducing material fraud.

"The transition from Web2 to Web3 and the adoption of blockchain technology is important for Germany to move from horse-drawn carts to driving cars. We love designing our cars and we are world leaders in this. If we cannot adapt or use blockchain, we will remain a technology leader at the bottom of the queue...and in a horse-drawn carriage." We all know what happened - they entered the museum.

With widespread support for digital modernization in Europe, there is a unique opportunity to be at the forefront of blockchain technology, from the simplest goods and services, such as physical mail and mail. Stackable crypto tokens are just one of the many use cases in the Web3 ecosystem that demonstrate the utility that NFTs can provide.

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