American Express has introduced ‘Travel seals’ based in Ethereum to create a commemorative record of travel experiences, as part of the company’s renewed travel application.
Travel experience tokens, which are technically NFTS (Tokens erc 721)They are coined and stored in the Coinbase base network, said Colin Marlowe, vice president, emerging associations in Amyx Digital Labs.
The travel stamps, which can be collected every time a traveler uses his card, are not negotiable NTF tokens, Marlowe explained, and do not function as blockchain loyalty points, at least for the moment.
“It is an ERC-721 without value, so technically it is an NFT, but we do not mark it as such. We wanted to talk in a natural way for the travel experience itself, so we talk about these things as stamps, and they are represented as tokens,” Marlowe said in an interview.
“As an identifier and representation of the story, the stamps could create interesting association angles over time. We were not trying to sell these or generate any short -term income. The angle is to make a travel experience with Amex feel really rich, really different and distinguish it,” he said.
Fireblocks is also involved, supporting AMEX as its wallet supplier as a service for the passport product, said a Fireblocks representative.
The Amex Travel application also includes a range of tools for travel and updates from Centurion Lounge, the company said.
