Coinsilium Group Limited (AQSE:COIN) (OTCQB:CINGF) the Blockchain, Open Finance and Crypto Finance venture operator, has reached an agreement with The Gibraltar Philatelic Bureau Ltd for the creation of a commemorative limited edition Cryptocurrency Postage Stamp (the ‘Crypto Postage Stamp’) to be released in Q2 2021.
The Crypto Postage Stamp will be tied to the release of a blockchain based Digital Collectible, or non-fungible token (‘NFT’) counterpart, to be exclusively produced by Coinsilium in collaboration with Vietnam-based RedFOX Labs Joint Stock Company (RedFOX) under the terms of a Technical Development and Support agreement announced by the Company on 10 December 2020.
Malcolm Pallé, Chairman of Coinsilium, commented: “The Gibraltar Crypto Postage Stamp marks our first venture in the highly innovative NFT space following our recently announced collaboration agreement with RedFOX Labs.
“Whilst the market for Digital Collectibles is still at a nascent stage, the activity and pace of growth we are witnessing, particularly in the philatelic market, demonstrates that there are strong demand fundamentals emanating from a new generation of collectors and NFT enthusiasts globally. We also see indications of strong synergies in parallel collectibles marketplaces where potential opportunities in numismatics, gaming, sports, music and art are currently under evaluation.”
Ben Fairbank, Chief Executive of RedFOX Labs, commented: “This is such a great example of diversified use cases for NFTs. We are thrilled to be working with the Coinsilium team and the Gibraltar Philatelic Bureau to produce a unique set of NFTs that showcase Gibraltar and introduce a new audience to this type of collectible. This is the first joint project we undertake with Coinsilium and believe the opportunities to work together span a number of industry sectors and cater to an ever-growing audience discovering NFTs for the first
The NFT Stamp Market
The global philatelic market was one of the first to recognise the potential for integrating NFTs linking real world collectibles to digital assets. In 2019 Austrian Post issued a series of limited edition collectible NFT stamps which sold out within days. This was followed in 2020 by an equally successful enlarged offering. Other NFT collectible postage stamps have been issued in 2020 by the United Nations Postal Administration (UNPA) and Croatian Post.
Trading in NFT stamps continues actively on digital marketplaces such as OpenSea, Decentraland, SuperRare, Atomic Hub and Rarible where activity and demand amongst collectors continues to grow.
Gibraltar Crypto Stamp and NFT
To celebrate the impact that Blockchain technology is now having on the world and Gibraltar’s status as a progressive regulatory jurisdiction and global centre of excellence, Her Majesty’s Government of Gibraltar and The Gibraltar Philatelic Bureau Ltd will be issuing a limited edition 2021 commemorative ‘Cryptocurrency’ postage stamp, dedicated to this revolutionary new technology. Each limited edition Crypto Postage Stamp will be collectible in its own right and will come with a priority entitlement to a limited issue set
of companion Digital Collectible non-fungible tokens (NFTs), to be produced by Coinsilium in collaboration with RedFOX.
The Crypto Postage Stamp will be available for sale online via the Gibraltar Stamps website and from stamp dealers around the world. The NFT companion series will be available for sale and subsequent secondary market trading on a dedicated Digital Collectible marketplace to be developed on the Atomic Hub platform which will be operated by Coinsilium and RedFOX. The marketplace will derive revenues from listings, sales and secondary market trading of the Digital Collectible NFTs.
Both the Crypto Postage Stamp and its NFT counterpart are scheduled for release in Q2 2021. Further details relating to the Crypto Postage Stamp and NTF as well as details relating to their launch will be released over the course of the coming weeks and months.
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