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Gibraltar Finance Report
The launch of the Gibraltar Crypto Stamp
The release of the NFT stamp series is a landmark in Gibraltar’s technological advancements,
the Hon Albert Isola,
Minister for Digital and Financial Services reports
NFTs, or Non-Fungible Tokens are digital assets that represent a wide range of tangible and intangible items, from digital artwork to virtual trainers. Each NFT is a verified file with its own identity and ownership. Thanks to blockchain technology, buyers of NFTs can become the immutable owners of such unique assets, holding the power to resell, should they wish to do so. In 2020, the total value of NFT transactions quadrupled to $250 million, and with the sale of the first ever digital artwork at Christie’s closing for a staggering $69m in March, it is clear that NFTs are here to stay.
As the global leader in blockchain regulation, with a strong commitment to advancing the global understanding of blockchain technology, the Government of Gibraltar has built progressive industry leading legislative processes that make it a regulatory-friendly environment for the global blockchain and crypto community.
In celebration of the impact that blockchain technology is now having on the world and Gibraltar’s status as a progressive regulatory jurisdiction, the Government of Gibraltar will release a limited edition 2021 commemorative ‘Cryptocurrency’ postage stamp series later this month. Eager to provide enthusiasts with a meaningful collectible, Gibraltar is hopeful for the potential for stamp collecting to be transferred to the digital world. The Gibraltar Cryptocurrency Stamp is available for purchase from the 19th May 2021 at www.wopa-plus.com/crypto
The issue of the cryptocurrency postage stamp is accompanied by an NFT counterpart, which is exclusively produced by Coinsilium Gibraltar, in collaboration with Vietnam-based RedFOX Labs. A total of 100,000 NFTs will be minted, representing two NFTs for each Crypto Postage Stamp issued. The NFT artwork will comprise a selection of exclusively commissioned iconic images of Gibraltar which follow the design theme of the
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Gibraltar International
www.gibraltarinternational.com