The first blockchain ‘Crypto stamp‘ in the world by the Austrian government-owned Post Office (Österreichische Post AG) in collaboration with Capacity aroused international attention. Within a short time after the publication, it has not only become a coveted collector’s item among stamp lovers. For those who already had experience with cryptocurrencies, these “collectibles” are now a popular speculative object. This is a completely new target group, which had rarely any interest in philately.
In the meantime, the special stamp block, which is limited to 150.000 pieces, is no longer available online or at post offices. Though the stamps are normal postage stamps, each stamp also has a digital counterpart. This digital twin of the physical stamp is available in five colors, each with a different degree of uniqueness (red, yellow, blue, green and black). Not only because of the high resale value on secondary markets of several hundred to 10.000 EUR for red stamps, the Crypto stamp is a sensation.
In the blockchain space, this “Non-Fungible-Token” (NFT) has broken several records. Capacity, the partner company for the technical implementation of the Crypto stamp, gives some insights.
Austria’s first Web3-based OnChain-Shop enables the interaction of internet browsers with the Ethereum network and is widely regarded by many experts as the new standard for NFT sales platforms for dAPPs (Distributed Applications). This is the only way to purchase the last pieces of the stamp.
On OpenSea, currently the largest marketplace for NFTs, at the time of writing (September 12th, 2019), the Crypto stamp ranks unrivaled with 149. 253 owners.
With a market capitalization of the equivalent of 9.519.460 EUR (46.110,56 ETH – on August 8th, 2019), the collectible ranked second, a remarkable result within two months after its release on June 11th, 2019.
Also, the creation of the 150.000 Crypto stamp “wallets” caused an attention spike. With a constant workload of 10% of Ethereum’s blockchain over the period of one week, in an economically efficient way, Capacity generated the largest number of NFTs ever until the date of the release.
As the first use case for blockchain collectibles of a largely state-owned company, the Crypto stamp is a milestone for Ethereum and the adoption of cryptocurrencies in general. The success of this pilot project will help determine the future of NFTs.
