Indonesian Post Introduces NFT-Based Stamps

The Indonesian postal service, Pos Indonesia, has launched its first stamps paired with NFTs, merging tradition with modern technology.

The debut stamp, featuring the "Cenderawasih" or "bird of paradise," was unveiled via the company’s official Instagram account. The NFT stamp will also have a physical version, offering collectors both digital and tangible forms of the stamp. The collection will be available in booklet form and is designed to appeal to crypto enthusiasts by combining the heritage of traditional stamps with blockchain innovation.

This initiative reflects Indonesia's increasing participation in the Web3 space. Earlier this year, on March 28, the country's financial authorities announced plans to propose new regulations for crypto assets in early 2025, aimed at preventing fraud.

NFT Market Faces Decline

The introduction of Indonesia’s NFT stamps comes at a time when global interest in NFTs has been waning. According to data from CryptoSlam, NFT trading volume dropped to $296 million in September, a 20% decline from August and a sharp 81% decrease compared to the $1.6 billion peak in March 2021.

In addition, the number of NFT transactions fell from 7.3 million in August to 4.9 million in September, marking a 32% drop.

Stamps as NFTs

NFT stamps are not a completely new concept. In 2021 and 2022, several organizations sought to revive interest in stamp collecting by introducing blockchain-based stamps. Countries like the United Arab Emirates, Austria, and the Netherlands have launched similar initiatives, combining blockchain technology with traditional stamp collecting.

In June 2022, the United Arab Emirates celebrated its 50th anniversary by releasing the world’s most expensive modern postal stamp, which contained one gram of gold and was accompanied by an NFT version.