Amid a challenging period for the NFT market, with research showing that 96 percent of digital collectibles have decreased in value, Indonesia’s state-owned postal service, Pos Indonesia, has ventured into the NFT space.
The postal service has introduced a series of NFT-linked stamps in a bid to merge traditional stamp collecting with modern blockchain technology.
This move aligns with Indonesia’s increasing focus on blockchain innovation. In September, the country signed a memorandum of understanding (MoU) with India’s Bharat Web3 Association to collaborate on Web3 initiatives.
Pos Indonesia’s new limited-edition stamp collection, featuring the Cenderawasih or birds of paradise, marks the nation’s first NFT-linked stamps. Each stamp comes with a corresponding NFT, blending classic philately with digital advancements.
The postal service announced this groundbreaking initiative on Instagram, describing the NFT stamps as an innovative digital asset for stamp collectors. "As the largest postal company in Indonesia, we have launched the country’s first NFT stamps, combining traditional stamp values with cutting-edge blockchain technology,” the post from @posindonesia.ig stated.
To make purchasing easy, Pos Indonesia has implemented a QR code system, allowing buyers to order stamps through the Ciphers.me website. Additionally, the limited-edition stamps will be available in booklet form for collectors who prefer the physical versions.
The integration of NFTs into stamps has been explored by other postal services as well. During the 2022 Blockchain Expo in Amsterdam, both PostNL of the Netherlands and the Austrian Post Office expressed their interest in using NFTs to reignite interest in stamp collecting, as reported by CoinTelegraph.
The concept of NFT-linked postage stamps is not entirely new.
In 2021, the UAE launched NFT stamps priced at AED 250 (approximately Rs 5,700) to celebrate its golden jubilee. While India has not yet introduced NFT postage stamps, the Indian Railway Catering and Tourism Corporation (IRCTC) released NFT tickets earlier this year in honor of the Holi festival.
Despite the growing interest in NFTs, the market has seen significant declines. According to a 2024 report by NFTEvening, 96 percent of NFTs currently have no trading volume or sales and little social media engagement. The report explained that the average NFT lifespan is just 1.14 years, much shorter than the lifespan of traditional crypto projects, reflecting the speculative nature of the NFT market and its struggle to sustain long-term value.