American Express has launched blockchain-based stamps for customers as digital souvenirs for travel.
According to the company's official website, each travel stamp will be stored as an ERC-721 non-fungible token (NFT) on the Ethereum Layer-2 scaling network Base, used to preserve cardholders' travel records and unforgettable memories.
Luke Gebb, Executive Vice President of American Express Digital Labs, stated on Monday, "One of the charms of travel is reminiscing about past vacations, and souvenirs are an important way for travelers to relive their wonderful journeys."
"As physical passport stamps gradually disappear, Amex Passport creates opportunities for cardholders to celebrate their travels."
American Express stated that each stamp can be customized based on the best experiences from each trip, such as special attractions, memorable cuisine, hotel stays, or favorite activities.
Only American Express card users with a card linked to their online account can obtain the Amex Passport stamp, and the NFT is non-transferable and non-tradable.
American Express indicated that each stamp only displays the country or region of the stamp, a description of the stamp, and the date it was obtained; personal information and itinerary details will not be displayed on Base.
According to data from the Base blockchain explorer BaseScan, the Amex travel stamp smart contract was created 25 days ago.
This initiative is another example of how public blockchains can help businesses and users securely store data without the need for centralized servers.
Last month, the U.S. Department of Commerce announced it would begin publishing economic statistics, including gross domestic product, on the blockchain.
American Express's latest research shows strong demand for the new travel stamp solution, with 73% of respondents wishing for more digital ways to commemorate past travels.
56% of respondents indicated that they miss the experience of receiving a passport stamp upon arriving in a new country.
Users can share their Amex travel stamps on social media or save them to their photo albums. Trips booked through Amex in the past two years will automatically add stamps for customers.
While the cryptocurrency travel industry remains relatively niche, it has seen significant growth in recent months.
In February, the cryptocurrency-native travel platform Travala integrated crypto payment options for 2.2 million hotels on Trivago. Trivago is a hotel metasearch platform that allows users to compare accommodation prices across different booking sites.
Data from Travala in May showed that cryptocurrency users spend an average of three times more per hotel stay than traditional users, and they typically stay longer in one place due to flexible remote work arrangements.
Meanwhile, data from Triple-A indicates that 14% of cryptocurrency transactions in 2024 will be used for the travel and hotel industry, with more airlines beginning to accept cryptocurrency bookings.
Related: Web3 white hat hackers earn millions, far exceeding the $300,000 annual salary of traditional cybersecurity positions.
Original article: “American Express Now Offers NFT Passport Stamps for Travelers”
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