Etihad Airways Selling NFTs With Elite Status

Etihad Airways Selling NFTs With Elite Status

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Etihad Airways is getting into the NFT world, and is offering elite status to those who make a purchase.

Etihad Airways launches model airplane NFTs

Etihad Airways will be launching its first non-fungible token (NFT) collection, named “EY-ZERO1.” The collection will feature ten detailed 3D aircraft models, each showcasing a unique Etihad Boeing 787 livery. A total of 2,003 NFTs will be available for sale (with 2003 also being the year in which Etihad was founded).

EY-ZERO1 will be minted on the Polygon blockchain, and Etihad Airways will partner with Aerial.is to track the CO2 emissions of the NFTs. In addition to offsetting the entire carbon footprint of the project, the airline will allocate all proceeds from the collection to purchase sustainable aviation fuel in 2022.

That’s quite an interesting angle. So Etihad is using environmentally unfriendly NFTs in order to fund its environmental projects?

Here’s how Tony Douglas, the CEO of Etihad Group, describes this development:

“We’re excited to launch our first NFT collection, EY-ZERO1, which not only offers collectors, aviation enthusiasts and travellers a unique work of art, but provides real-world travel and lifestyle benefits with Etihad Airways.”

“NFTs and other metaverse technologies are revolutionising the digital economy, and we are proud to be one of the first airlines in the world to explore their potential to provide additional utility for our customers.”

“As well as recognising the artistic value of our aircraft liveries, our NFT collection has been designed to be as efficient as possible and support our wider sustainability and decarbonisation efforts at Etihad Airways.”

Etihad NFTs cost & Silver elite status

Etihad Airways’ NFTs will go on sale at 6PM UAE time on July 21, 2022, and the sale will remain open through August 18, 2022, pending availability.

Each NFT will be priced at $349 plus tax, and can be purchased at etihad.arcube.io. Etihad will be giving away 20 NFTs to people who pre-register on etihad.com/zero1 before they go on sale.

Those who purchase an Etihad Airways NFT will also immediately be given Etihad Guest Silver status for one year, and 10 winners will even win complimentary flight tickets with Etihad. So this is essentially a way to purchase Etihad Guest Silver status for $349, if nothing else.

The catch is that the benefits of Etihad Guest Silver status are fairly limited, though there are some potentially useful perks. This includes 25% bonus miles, priority check-in, lounge access in Abu Dhabi, extra baggage, and free standard economy seat assignments (since Etihad is basically a low cost carrier at this point).

Bottom line

Etihad Airways is one of the first airlines to get into the NFT world. Perhaps most interesting to many, this is an opportunity to purchase Etihad Guest Silver status for $349.

I don’t know the first thing about NFTs. I did just finish reading a book on Bitcoin (simply because I wanted to learn), and I’m more confused after finishing it than I was before. I also felt like I essentially attended a cross between a timeshare presentation and a cult meeting. Anyway…

Who’s buying Etihad NFTs?!

Conversations (35)
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  1. Al Guest

    Oh my…. judging by most of the comments below it is clear the digital asset space (crypto is just a terrible name) is still deeply miss understood. For the record, 90% is noise but 10% will move the world forward. In particular Bitcoin, which has a real chance of resetting the broken monetary system in which we live in. A digital age form of sound, hard money is not something to dismiss lightly. The implications...

    Oh my…. judging by most of the comments below it is clear the digital asset space (crypto is just a terrible name) is still deeply miss understood. For the record, 90% is noise but 10% will move the world forward. In particular Bitcoin, which has a real chance of resetting the broken monetary system in which we live in. A digital age form of sound, hard money is not something to dismiss lightly. The implications are profound. Be skeptical by all means, but dismiss it only after you understand it. If you have any real interest in the matter, The Bitcoin Standard by Saifedean Ammous is possibly the best place to start.

    Regarding the Etihad NFT in particular, it’s just a collectible like any other, in which you may or may not see value. That said, the underlying NFT technology will probably see many real world use applications like IDs, leases, titles, deeds etc. It just happens that it’s first real world use was JPEGs of monkeys over which people lost their marbles.

  2. KG Guest

    NFTs have immense value when utilized correctly. There are several use cases that are legitimate and provide a new economy (e.g., an artist in Afghanistan can make money selling her art in web3 and make royalties on secondary sales in perpetuity (when can any artist make commission on secondary sales of art?)). Then there’s the use case of utilizing NFTs for purposes of memberships. One thing that is interesting with this use case is the...

    NFTs have immense value when utilized correctly. There are several use cases that are legitimate and provide a new economy (e.g., an artist in Afghanistan can make money selling her art in web3 and make royalties on secondary sales in perpetuity (when can any artist make commission on secondary sales of art?)). Then there’s the use case of utilizing NFTs for purposes of memberships. One thing that is interesting with this use case is the notion of liquidity. If Eithad’s silver status is worth $349 now, then technically there could be an ecosystem where it’s worth more (or not). Thus, the holder of the NFT could sell the NFT for liquidity purposes. Now, this obviously can be exploited for fraudulent purposes, but that’s why the industry wants to (and should) be regulated. And just like ordinary stocks, it’s on people to become educated on particular NFTs or crypto when considering whether to spend money and invest. There’s a lot of noise/scams in crypto/NFTs. But there also was a lot of noise/scams is 2008 or with Madoff (or any other scams in human history).

  3. Will Guest

    I’ve been following you for 10 years, back then half the tech we have now would have seemed impossible, in another 10 years crypto will have a place in society, the biggest banks around the world are investing is blockchain technology, chase bank has created their own private block chain for internal use for example and are working on being able to send 10s of trillions of dollars in assets across the world right now...

    I’ve been following you for 10 years, back then half the tech we have now would have seemed impossible, in another 10 years crypto will have a place in society, the biggest banks around the world are investing is blockchain technology, chase bank has created their own private block chain for internal use for example and are working on being able to send 10s of trillions of dollars in assets across the world right now more efficiently… honestly my favorite example of why crypto could help the world once perfected… billions of people on are planet are unbanked because they can’t trust their country or their countries currency…. Crypto could help solve this by eliminating the third party (banks for example) and letting people hold their own money digitally… you’ve travelled around the world you should know this better than anyone…. Tell me how people in countries like Somalia or North Korea can trust their personal fund with their government, but if you hold total control of your assets and can send freely with out restriction, especially across the world with low fees (like Hispanic people working in America sending money back home wouldn’t have to pay those fees to moneygram) makes it much easier to have a globalized fair economy.

    1. Eve Guest

      Well you are overlooking the fact that crypto is becoming regulated. EU recently drafted plans to create a framework to regulate it. Numerous other governments are already doing it. Crypto as a concept will pretty much end up like any securities, and as per your own convoluted assumption of a statement, it will end up being just as you trusting your government to take care of your fiat currency.

      I.e. my point is Crypto is a joke!

    2. Will Guest

      The point of crypto was not to have no regulation but greater transparency… when a company tells you they made a donation or claim that a certain percent of money they earn is going toward something how do they have to prove that to the general public? They don’t but with blockchain technology and a distributed ledger it means any one can see transactions made by an address and where those fund were sent… wouldn’t...

      The point of crypto was not to have no regulation but greater transparency… when a company tells you they made a donation or claim that a certain percent of money they earn is going toward something how do they have to prove that to the general public? They don’t but with blockchain technology and a distributed ledger it means any one can see transactions made by an address and where those fund were sent… wouldn’t you like more transparency in how the government spends your money how companies pay and distribute their money.. it would all be more transparent if those transactions took place on the block chain.

      Crypto was sold as untraceable originally which made it popular with black market stuff but recently the FBI proved with the retrieval of 150k bitcoin traced back to being stolen in 2011 that it is traceable which is totally fine… I don’t care as much about it being regulated as the transparency aspect you can tell me the government has control but if the money is on your phone in your wallet it’s in your control, let alone if I decide to store that crypto offline in a hard wallet it’s just about impossible to access at that point.. unlike money on your bank app held by a 3rd party you yourself are the holder of your asset. If your bank says fuck you tomrrow they could hold up your whole shit, if I have bitcoin in an offline wallet it’s literally untouchable unless I put it back online and that’s only possible if you know your given password phrase which is typically 12-24 randomized words.

      That’s fine if the government sees how I spend my money Idc I’m not doing anything wrong but I’d sure like to see how some companies spend their money no question their doing illegal shit.

    3. kimshep Guest

      Problem is that there are approximately 200 actual hard currencies available in the world today, whereas there are approximately 19,000 global crypto-currency brand / products. Hard, if not impossible for people in third world economies (the great 'unbanked') to have an understanding of the breadth of that market. It is growing so rapidly that even people that understand the market in first world economies are having trouble keeping up!

      BTW, there is a very...

      Problem is that there are approximately 200 actual hard currencies available in the world today, whereas there are approximately 19,000 global crypto-currency brand / products. Hard, if not impossible for people in third world economies (the great 'unbanked') to have an understanding of the breadth of that market. It is growing so rapidly that even people that understand the market in first world economies are having trouble keeping up!

      BTW, there is a very major difference between blockchain technology and crypto (coins / tokens).

      There is also the fact that every person on this site (and anyone else that wants to), can create their own crypto product ~ many of which will end up as 'pump and dump' tools. Que sera, sera. Goodbye, yellow-brick road.

      Current stats indicate that approx. 30% of the US population has purchased some level of crypto. FOMO what? Compare that to the percentage of people in the US that is directly (ie: other than 401K's) participating in the stock exchange, which is actually backed by tangible assets?

      At least a trip to a casino provides a little entertainment, if you are so inclined (I'm personally not). But crypto? Ah, the science of being able to offload product to the next 'mug' .. ie: the old saying of 'one born every minute'. Sure, there are people making money out of crypto, but like pyramid schemes, its those that get in first, or those buying bitcoin now at $21K and hoping it will return to $70K.

      There's another old adage that my Dad used to say: 'Wish in one hand and spit in the other. See which gets filled first.'

    4. Will Guest

      So your comparing the stock exchange which has been around what 100 years to crypto which has been around less than 15 and already 30 percent of people have interacted with it.. thanks for proving my point dumb fuck. More people interact with stocks because they are more accessible now but guess what they weren’t… not long ago there used to fees to trade stocks and it kept many out of the market cause they...

      So your comparing the stock exchange which has been around what 100 years to crypto which has been around less than 15 and already 30 percent of people have interacted with it.. thanks for proving my point dumb fuck. More people interact with stocks because they are more accessible now but guess what they weren’t… not long ago there used to fees to trade stocks and it kept many out of the market cause they couldn’t afford the fees if you just worked an average job but Robinhood came out made fees zero and pushed other companies to do the same when that happened more average and lower income people started investing because the barrier to entry was reduced, more young people started to invest, no matter what you chose to believe the reality is people will always follow the path of least resistance and lowest barrier to entry… we’re in a period now where your right there are many currencies but do a little fucking research the main coins im talking about are bitcoin and ETH they haven’t wavered since they were made and the amount of people holding continues to grow. The price continues to increase. If you bought ETH during Covid your still up a 10x. In fact the top 10 coins are all up over a 5x from a year ago even with the market down.

      The most ironic shit about this is people who don’t understand miles and points think it’s a scheme or a ponzi yet you and I know it’s not … just because something is beyond your understanding doesn’t make it illegitimate.

    5. kimshep Guest

      Err, thanks for the 'dumb f*ck' expletive, Will. I generally find that people that can't put a cogent discussion point together usually resort to this type of behaviour. Given that the only point you latched onto (and incorrectly), I am handing the 'dumb f*ck' hat straight back to you. Put it on tightly and cover your ears, because there are clearly others that have handed it back to you, as per above.

      Your understanding of...

      Err, thanks for the 'dumb f*ck' expletive, Will. I generally find that people that can't put a cogent discussion point together usually resort to this type of behaviour. Given that the only point you latched onto (and incorrectly), I am handing the 'dumb f*ck' hat straight back to you. Put it on tightly and cover your ears, because there are clearly others that have handed it back to you, as per above.

      Your understanding of Robinhood's business model is entertaining. An organisation that has been around for approximately 12 months and listed at its IPO price (Jul 2021), which reached above $85 and is now trading at $9. Glad to see that you're obviously a follower of duds ~ and before you suggest that Robinhood somehow was the 'first' to offer commission-free trades - I suggest you do a little research.

      Remember, you are crediting the great Crypto engagement to an organisation which is 12 months old and who only started trading crypto a few months ago? That doesn't even remotely make sense. Especially when Bitcoin has been around for almost 8 years - and all those bright young things should have been mining the internet for 'free' bitcoins 3 or 4 years ago. So, I'm not fan of your 'revisionist' history.

      Whilst you're at it, perhaps you might want to Google [Dutch Tulip frenzy] and also look at the stock price for Coinbase. Maybe add in 3Arrows and a few other 'newsworthy' Crypto goodies. There's an awful lot of them either going broke, being liquidated or being prosecuted for fraud. If that's your idea of stable investing, good luck. Its NOT mine. But good on you if you wish to place all your trust (and assets) in the hands of a dubious individual who claims to have invented the concept of Bitcoin but can't even be identified.

      Oh, and my comment about the Crypto vs Stock market penetration comparison. 30% of 325 million Americans would be around 108 million doing the FOMO crypto thing. That includes ALL adults and children. I strongly suggest that there are probably fewer than 30 million people in the USA who are actively involved in trading in the stock market. You see, those that have substantial investible amounts of cash usually don't care to lose it. So, read a little more carefully next time, my friend.

      By the way, the hat I'm returning to you comes with a bunch of Dutch tulips. Enjoy.

      "Path of least resistance", "lowest barrier to entry" .. gee, I'm still laughing at those. Bernie Madoff would be proud ..

    6. Eskimo Guest

      @Will

      LOL tech that seemed impossible. Always reminds me of Concorde and supersonic travels.
      Just like crypto, 50 years ago this was going to be a game changer. Well it's been almost 20 years that people last travelled commercially at supersonic speeds. And the NBA team that got the namesake from never even made any commercial supersonic plane.

      The irony of crypto believers wanting to crypto to go "to the moon". We've been to...

      @Will

      LOL tech that seemed impossible. Always reminds me of Concorde and supersonic travels.
      Just like crypto, 50 years ago this was going to be a game changer. Well it's been almost 20 years that people last travelled commercially at supersonic speeds. And the NBA team that got the namesake from never even made any commercial supersonic plane.

      The irony of crypto believers wanting to crypto to go "to the moon". We've been to moon exactly 6 times. Like the Concorde, last time we went to the moon was almost 50 years ago.

      So is blockchain a tech that seemed impossible that would have a place 10 years from now. Or will it be a tech that no one cares anymore.

    7. William Guest

      Do you really think when credit cards first came out people in third world countries grasped the concept? No shit takes time

      Also are you kidding me about usefulness? Is instagram useful? Do people use it? Is Twitter useful overall really? Do people use it gtfoh… and you use super sonic jets as an example that’s one thing…. 20 years ago cell phones like we have no couldn’t even be imagined yet here we are,...

      Do you really think when credit cards first came out people in third world countries grasped the concept? No shit takes time

      Also are you kidding me about usefulness? Is instagram useful? Do people use it? Is Twitter useful overall really? Do people use it gtfoh… and you use super sonic jets as an example that’s one thing…. 20 years ago cell phones like we have no couldn’t even be imagined yet here we are, bend your mind to the possibly that just because it seems unlikely now doesn’t mean it’s dead yet…. You know what people said about the internet back in the day, you’d still have trouble explaining what internet is to someone unfamiliar with tech but that doesn’t mean they wouldn’t use it.

    8. kimshep Guest

      .. you seem to collate 'time' equally with 'progress'. Will.

      Remember, not all 'progress' is uniformly beneficial. Think the Ford Edsel, which was meant to be revolutionary. Think Beta vs VHS? Neither won that race in the end. 'Blockbuster' vs Netflix? Java vs HTML and then XTML etc..

      Open your mind. Something new - like boyfriends or girlfriends or busses - comes along all the time. And they are usually evolutionary, rather than truly revolutionary.

      ...

      .. you seem to collate 'time' equally with 'progress'. Will.

      Remember, not all 'progress' is uniformly beneficial. Think the Ford Edsel, which was meant to be revolutionary. Think Beta vs VHS? Neither won that race in the end. 'Blockbuster' vs Netflix? Java vs HTML and then XTML etc..

      Open your mind. Something new - like boyfriends or girlfriends or busses - comes along all the time. And they are usually evolutionary, rather than truly revolutionary.

      Instead of asking whether Twitter or Instagram (a successor to the dud that has become facebook, but brought to you by the same company LOL) are useful, it might be more appropriate to ask whether "Social Media' is useful? Sorry, I have to go now, there's a bus or a boyfriend or both coming along. Don't get run over, mate.

    9. Will Guest

      Facebook, with 2.93 billion monthly users and the ability to change the entire world narrative like it did during the elections … a total dud lol … a company that was founded less than 20 years ago changed our entire narrative across the world but it’s a dud right. I hate social media don’t get me wrong but the point is people USE IT.

      If almost 3 billion people can use something useless why can’t something with true use cases reach that same level of acceptance?

    10. kimshep Guest

      Will, you're obviously impressed by numbers. I have a different view .. and that is the ability to monetize the platform (as a business), produce a profit / dividend for owners (stockholders) and defend your product / technology / image.

      Facebook's profitability and stock price is shrinking and under siege (look at their current financials etc). Russia has banned the product, it is barely tolerated in China (even with a VPN) - two of...

      Will, you're obviously impressed by numbers. I have a different view .. and that is the ability to monetize the platform (as a business), produce a profit / dividend for owners (stockholders) and defend your product / technology / image.

      Facebook's profitability and stock price is shrinking and under siege (look at their current financials etc). Russia has banned the product, it is barely tolerated in China (even with a VPN) - two of the world's largest markets outside the USA. Numbers are fine, but if you can't make them work for you - and you have questionable management and a model built on exploitation of your customers and partners - then that doesn't spell success to me.

      Facebook has the 'numbers', although the new trend is that monthly average users (MAU's) are declining. Cambridge Analytica and the court cases to force Facebook to pay for news media in Australia and much of Europe show how manipulative an uncontrolled entity can be.

      Fun fact - Facebook did not invent social media. Back in the 1990's, Microsoft introduced a global internet social media product, which was wildly successful. MSFT persevered with the membership / login model for approximately 15-18 months. It was called the Microsoft Network (MSN) and even had global partners worldwide including MSNBC in the USA/Canada and NineMSN in Australia/New Zealand). Ultimately, Microsoft saw the multitude of problems that trying to administrate and set standards (both legal, commercial and personal) with an interactive product. They abolished the membership requirement, stopped member interactivity between users and made the platform (MSN) a curated information platform. Before MSN, there were certainly other quasi-social platforms. Think MySpace, AOL for instance, who also saw similar problems.

      You may think that Facebook has done a great job (based on sheer numbers). I would agree that it has been a 'disruptor' - but unlike you, I see that disruptive element as not beneficial to society at large - or even all. So, yes - I do consider Facebook a 'dud'. Think a trillion dollar company that is now valued at only $450 billion. A purveyor of 'questionable' standards (both morally and ethically), a company with limited 'vision' (think Metaverse and Facebook's version of it),

      I'm glad you agree that FB is useless - personally, I don't use it, by choice. Getting back to crypto though, which is the subject at hand.

      However, your 'end-kicker' question of 'why can't something ..' is open to interpretation. Blockchain has the potential to be a wonderful technology when it is worked on a little more. Security, speed of transactions are just two of the issues here. But it is ultimately proven technology which will be beneficial.

      Crypto, on the other hand, is another question. It requires regulation (whether people on here like it or not) to be successful ~ and truly, however successful Bitcoin is, or becomes ... it will never become the world's default crypto 'currency' due to the fact that there is a finite and limited supply. The developers of Ethereum recognised this early on and when introduced, included the ability to expand and contract the number of available coins.

      Finally, be careful about your defence of 'crypto security'. You can have 'secure' wallets galore (not all are that secure, BTW) and you can store your coins off-line to reduce risk. That is one side of the equation only. When you have brokers like Coinbase and others, who choose to loan YOUR deposited Bitcoin out to other organisations, then a world of trouble opens up. How do you think the current market collapse has occurred. Companies like 3Arrows not being able to repay borrowed crypto back to its lenders - and those lenders not being able to fully reimburse their depositors / customers. Currently, a projected 2 trillion dollar (66%) market loss.

    11. Abdul Guest

      Etihad’s NFT allows you to instantly become a part of the silver tier (exclusive lounge access, priority check-in, instant upgrades, etc..). For you to normally accumulate the miles to get the silver membership, you would have to take several flights. So in a way, NFTs are providing a way to help people find a ‘shortcut’ into the miles program making the whole system more effective. You can join their official discord here to understand the...

      Etihad’s NFT allows you to instantly become a part of the silver tier (exclusive lounge access, priority check-in, instant upgrades, etc..). For you to normally accumulate the miles to get the silver membership, you would have to take several flights. So in a way, NFTs are providing a way to help people find a ‘shortcut’ into the miles program making the whole system more effective. You can join their official discord here to understand the project better discord.gg/etihad . I am definitely buying it for me and my family

    12. Watson Gold

      @Abdul LOL how much did Etihad pay you to post that?

  4. Will Guest

    Ben I don’t expect you to know anything about NFTs but crypto as a whole uses tremendously less energy than current methods…. Think about energy and manpower it takes to excavate gold and send it vs sending digital money like you send money on Zelle there’s no way there comparable.

    1. Never In Doubt Guest

      IKR, lugging my gold around every day has become so tiresome.

    2. Will Guest

      Are you slow you must be just cause your not holding gold doesn’t mean it’s not being held somewhere and requiring some amount of money and energy to hold and store it just like paper money in banks…. Tell me what’s more efficent energy use wise sending a check through the mail or paying online… sending a letter which goes through the hands of the mail man the post office trucks all energy used to transport your piece of paper … or send an email lol

    3. Eskimo Guest

      @Will

      LOL you seem to blindly believe everything you read on the internet.

      Gold and crypto are basically the same. Crypto is the modern gold. Both are basically just a medium that people assign some imagine value to it. At least gold still have some metallic properties, crypto is just a waste.

      If humanity would learn about baseball cards.

    4. Will Guest

      All money is something we assign a value to are you dumb… we used to trade goods because we assigned a value to it…then we traded hard metals …. That we assigned a value to …. Then we assigned a value to paper money ….. now we’re digitalization it but apparently it’s a concept to hard for you to understand lol

      Also you said gold and crypto are the same thing except one is...

      All money is something we assign a value to are you dumb… we used to trade goods because we assigned a value to it…then we traded hard metals …. That we assigned a value to …. Then we assigned a value to paper money ….. now we’re digitalization it but apparently it’s a concept to hard for you to understand lol

      Also you said gold and crypto are the same thing except one is digital thanks for proving my point, people still want gold and it’s thousands of years old, crypto is less than 20 years old and already more than 5 percent of our world population has interacted with it.

  5. GBOAC Diamond

    Selling NFTs (or any supposed collectable) in limited amounts reminds me of the Franklin Mint (if you have enough gray hairs you remember their ads). They advertised that they were selling only a limited number of whatever crap they were offering -- the joke of course was that the number was limited to the number of suckers who would pay for their wares.

  6. GBOAC Diamond

    In reality, crypto currencies (and I believe NFTs) are basically unregulated securities. People buy them because they plan to sell them at a higher price -- they are not based on anything with an underlying value such as ownership of a company. Caveat Emptor

    1. Glen Guest

      If “they are not based (secured) on anything”, they are therefore by definition not “securities”…

    2. KG Guest

      What US law or judicial opinion are you relying upon when making this statement? As a lawyer who has done securities work, I am not entirely sure… would like to know.

  7. James Guest

    Cool! I can dump my declining crypto for these sure-to-be invaluable pieces of air! Yay!

  8. Stuart Guest

    "(since Etihad is basically a low cost carrier at this point)."

    How is Etihad being considered a low cost carrier? I'm confused by this statement. Because they charge for seat assignments in economy?

  9. D3kingg Guest

    I don’t see any value here unless you are from Abu Dhabi and want memorabilia or want Etihad Silver status. An NFT with a count of 2,003 is quite a large and common batch.

    Digital scarcity creates value so you either want Bitcoin which there will only ever be 21 million or an NFT with less than 25 minted.

  10. thurstontravel Guest

    Ah NFTs! Like bitcoin and the rest of the crypto nonsense, nothing more than a ponzi scheme advocated by and for idiot celebrities and unsuspecting investors. What a joke.

  11. Thulgar Guest

    The Polygon blockchain uses proof-of-stake so is not environmentally unfriendly like Bitcoin. Please do some research before including incorrect info in articles

    1. Ben Schlappig OMAAT

      @ Thulgar -- I'm going off what Etihad is saying here, about "offsetting the entire carbon footprint of the project." Could you enlighten me as to what Etihad would be offsetting, then?

    2. Thulgar Guest

      @Ben See article link below for an explanation of the difference between Proof-of-Work (Polygon -e.g. these Etihad NFTs) and Proof-of-Stake (Bitcoin).

      This is actually very cynical of Etihad. The carbon footprint for these NFTs will be very small (i.e the cost of running a normal server) - precisely because they use Proof of Stake tech. Etihad won't have to pay much to offset these.

      https://www.coindesk.com/learn/proof-of-work-vs-proof-of-stake-what-is-the-difference/#:~:text=Proof%2Dof%2DStake%3A%20Which,them%20in%20return%20with%20crypto.

      @Ben See article link below for an explanation of the difference between Proof-of-Work (Polygon -e.g. these Etihad NFTs) and Proof-of-Stake (Bitcoin).

      This is actually very cynical of Etihad. The carbon footprint for these NFTs will be very small (i.e the cost of running a normal server) - precisely because they use Proof of Stake tech. Etihad won't have to pay much to offset these.

      https://www.coindesk.com/learn/proof-of-work-vs-proof-of-stake-what-is-the-difference/#:~:text=Proof%2Dof%2DStake%3A%20Which,them%20in%20return%20with%20crypto.

    3. D3kingg Guest

      @Thulgar

      What are you talking about ? Cardano just went hydrabolic capable of 1,000 transactions per second per each coin staked. Perhaps you should do some homework.

    4. Thulgar Guest

      @D3kingg

      Don't know what you are talking about. Cardano has nothing to do with these NFTs as they are being minted on Polygon.

  12. Never In Doubt Guest

    “ a cross between a timeshare presentation and a cult meeting”

    Add “Ponzi scheme” and you nailed it!

    1. DCAWABN Guest

      I came to say something similar..."Oh, so EY is now in the MLM game? What non-product are they going to be scamming people with. Clearly NFTs. What's the recruitment compensation plan going to look like? Who'll be the first Super Platinum Diamond VP?"

      What a joke.

Featured Comments Most helpful comments ( as chosen by the OMAAT community ).

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Eve Guest

Well you are overlooking the fact that crypto is becoming regulated. EU recently drafted plans to create a framework to regulate it. Numerous other governments are already doing it. Crypto as a concept will pretty much end up like any securities, and as per your own convoluted assumption of a statement, it will end up being just as you trusting your government to take care of your fiat currency. I.e. my point is Crypto is a joke!

3
Never In Doubt Guest

“ a cross between a timeshare presentation and a cult meeting” Add “Ponzi scheme” and you nailed it!

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kimshep Guest

Will, you're obviously impressed by numbers. I have a different view .. and that is the ability to monetize the platform (as a business), produce a profit / dividend for owners (stockholders) and defend your product / technology / image. Facebook's profitability and stock price is shrinking and under siege (look at their current financials etc). Russia has banned the product, it is barely tolerated in China (even with a VPN) - two of the world's largest markets outside the USA. Numbers are fine, but if you can't make them work for you - and you have questionable management and a model built on exploitation of your customers and partners - then that doesn't spell success to me. Facebook has the 'numbers', although the new trend is that monthly average users (MAU's) are declining. Cambridge Analytica and the court cases to force Facebook to pay for news media in Australia and much of Europe show how manipulative an uncontrolled entity can be. Fun fact - Facebook did not invent social media. Back in the 1990's, Microsoft introduced a global internet social media product, which was wildly successful. MSFT persevered with the membership / login model for approximately 15-18 months. It was called the Microsoft Network (MSN) and even had global partners worldwide including MSNBC in the USA/Canada and NineMSN in Australia/New Zealand). Ultimately, Microsoft saw the multitude of problems that trying to administrate and set standards (both legal, commercial and personal) with an interactive product. They abolished the membership requirement, stopped member interactivity between users and made the platform (MSN) a curated information platform. Before MSN, there were certainly other quasi-social platforms. Think MySpace, AOL for instance, who also saw similar problems. You may think that Facebook has done a great job (based on sheer numbers). I would agree that it has been a 'disruptor' - but unlike you, I see that disruptive element as not beneficial to society at large - or even all. So, yes - I do consider Facebook a 'dud'. Think a trillion dollar company that is now valued at only $450 billion. A purveyor of 'questionable' standards (both morally and ethically), a company with limited 'vision' (think Metaverse and Facebook's version of it), I'm glad you agree that FB is useless - personally, I don't use it, by choice. Getting back to crypto though, which is the subject at hand. However, your 'end-kicker' question of 'why can't something ..' is open to interpretation. Blockchain has the potential to be a wonderful technology when it is worked on a little more. Security, speed of transactions are just two of the issues here. But it is ultimately proven technology which will be beneficial. Crypto, on the other hand, is another question. It requires regulation (whether people on here like it or not) to be successful ~ and truly, however successful Bitcoin is, or becomes ... it will never become the world's default crypto 'currency' due to the fact that there is a finite and limited supply. The developers of Ethereum recognised this early on and when introduced, included the ability to expand and contract the number of available coins. Finally, be careful about your defence of 'crypto security'. You can have 'secure' wallets galore (not all are that secure, BTW) and you can store your coins off-line to reduce risk. That is one side of the equation only. When you have brokers like Coinbase and others, who choose to loan YOUR deposited Bitcoin out to other organisations, then a world of trouble opens up. How do you think the current market collapse has occurred. Companies like 3Arrows not being able to repay borrowed crypto back to its lenders - and those lenders not being able to fully reimburse their depositors / customers. Currently, a projected 2 trillion dollar (66%) market loss.

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