Qantas Airways Limited (ASX: QAN) shares could receive some tailwinds in the form of extra revenue from the sale of non-fungible tokens (NFTs).
That's right.
The flying kangaroo is stepping into the digital art space. One based on blockchain technology, meaning each artwork is unique and cannot be copied. Though they may look identical to the human eye.
If you own Qantas shares, here's what your airline is up to.
What's this about NFTs?
As reported by The Australian, Qantas is planning to offer 4 different NFTs in its initial digital art rollout. That's expected to occur around the middle of this year.
The 4 NFTs range from First, Business, Premium Economy and Economy. First, as you'd expect, is the most expensive and rare.
The 4 different digital artworks will portray various aspects of Qantas' history in the air.
And if you buy an NFT, you'll also get frequent flyer points. Which could spur more people to book a flight, adding another tailwind for Qantas shares.
Commenting on the rollout, Qantas group chief customer officer Stephanie Tully said (quoted by The Australian):
From model aircraft to posters and boarding passes, people have been collecting pieces of Qantas history for more than 100-years and we know how much our customers love having their own unique piece of the national carrier.
A Qantas NFT collection allows us to engage the next generation of aviation and digital art enthusiasts, leveraging blockchain technology to celebrate our heritage and future.
How have Qantas share been tracking?
Qantas shares have seen some big ups and downs in 2022, battered by soaring fuel costs and then lifted by the reopening of international travel routes.
The Qantas share price is down 1.6% year-to-date, compared to a 3.2% loss posted by the S&P/ASX 200 Index (ASX: XJO).
At the current price of $5.07 per share, Qantas has a market cap of $9.6 billion.
