Philippine Airlines Launches Exclusive NFT Collection

• Philippine Airlines (PAL) collaborates with Philippine Blockchain Week to launch a collection of Limited Digital Collectibles.
• The PAL NFT collection consists of eight artworks by artist Trace Orozco, minted on the Ethereum blockchain and available on OpenSea. 
• PAL NFT holders will receive exclusive perks, including VVIP tickets for Philippine Blockchain Week for three years and tickets to the Michael Cinco Metaverse Fashion Gala 2023.

To celebrate the airline’s history, the Philippine Airlines (PAL) is venturing into the web3 space as it launches its own collection of Limited Digital Collectibles. For this release, PAL will collaborate with Philippine Blockchain Week (PBW).

PAL NFT Collection

The initial release of PAL non-fungible token (NFT) is composed of seven artworks by artist Trace Orozco. 

The tokens are minted on the Ethereum blockchain and available on the NFT marketplace OpenSea. According to Chezka Gonzales, Founder of Philippine Blockchain Week, choosing Ethereum as the token’s blockchain was due to its established platform and reliability, which ensured fast and secure execution of NFT transactions. 

“Own a piece of history and embrace the future of travel and blockchain. Get your First Philippine Airlines Limited digital collectible today and unlock a world of possibilities!” PAL wrote on their OpenSea page. 

According to the media release, each digital collectible has a total value of $5,000 (around ₱275,000). This includes a $1,500 (approximately ₱85,000) consumable Mabuhay Miles Philippine Airlines ticket–interested buyers can email info@pbw.ph to receive instructions to claim the digital collectible.

Currently, the tokens PAL Iconic Airplane Tail and PAL Iconic Arroz Caldo are the only bought pieces—both are last sold for 1.3 ETH (approximately ₱100,000).

Philippine Blockchain Week Partnership

“As Philippine Airlines continues to soar to greater heights by growing its global network of nonstop flights, so does Philippine Blockchain Week work to elevate Philippine society by motivating Filipinos to embrace the infinite possibilities of Web3 and beyond,” a statement reads.

For this partnership, a PAL NFT holder will get a VVIP ticket for Philippine Blockchain Week for 3 years, as well as a Michael Cinco Metaverse Fashion Gala 2023 ticket, and other exclusive perks for this year’s PBW.

PBW 2023, supported by the Department of Information and Communications Technology (DICT) and the Department of Trade and Industry (DTI), is an endeavor that aims to advance collaboration, drive innovation, and promote digitization in the country. It will be held at the Marriott Grand Ballroom from September 19 to 21.

“Philippine Blockchain Week is proud to partner with the nation’s flag carrier to present the Philippines’ first-ever NFT collection from a local airline. PAL disrupted the concept of a national airline eight decades ago, and blockchain is a groundbreaking, disruptive technology that we are excited to explore with them,” Gonzales told BitPinas.

Recent NFT News in the Philippines

In Q2 2023, NFT trading volume declined by 35%, even with the growing adoption of Bitcoin Ordinals. Ethereum remained dominant, constituting 83% of total volume, but temporarily fell to 73.3% in May due to the rising popularity of Bitcoin Ordinals, which accounted for 20.3% of NFT trading that month. Solana experienced the largest decline, with a 78.6% drop in trading volume compared to the previous quarter.

Last month, the Tambay OG NFT collection, featuring Filipino culture and humor, was sold out on Mintoo marketplace. Despite being sold out, NFTs are still available for purchase, priced between ₱600 to ₱100,000. 

Moreover, the pioneering web3 art collective CryptoArt PH presented a series of murals integrated with NFTs at this year’s Modern Contemporary Art Fair (MoCAF) last July 27-29, 2023.

Last June, Bitshares Labs Inc. (BLINC) and Harper and Hill (HARPER & HILL) have partnered to support the UNESCO Creative Artists Group in Baguio City using NFTs. The collaboration aims to create NFTs from artworks by the esteemed UNESCO Creative Artists Group, known for their dedication to preserving cultural heritage and advancing the arts in the region. 

This article is published on BitPinas: Philippine Airlines Launches Exclusive NFT Collection

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.