Swiss Post experiences a rush for NFT stamps

Today, November 25th at 6 a.m., Swiss Post started selling postage stamps that included digital twins (NFTs). Two hours later the website could no longer be reached, three hours later the stamped special edition was sold out. Dear Swiss Post: What was going on?

It is nothing new that some stamp editions are in particularly high demand. Stefan Dauner, media spokesman for Swiss Post AG, told BTC-ECHO, “that [die Nachfrage nach den Crypto Stamps] On the first day, however, is already so big, we did not expect it. “

With her idea of ​​bringing the collecting and exchanging of postcards into the digital world, she achieved a considerable onslaught. The post Switzerland created in a one-year project together with the Swiss Inacta AG a special edition of physical postage stamps, to which the buyer: a digital Non-fungible tokens (NFT). The past tense is deliberately chosen here, four hours after the start, most of the crypto stamps (“Swiss Crypto Stamps”) are sold out at the post office.

The Swiss Crypto Stamp has been available since 6 a.m. this morning. Swiss Post has already sold around three quarters of the 175,000 copies in the first 3 hours. The demand was very high, which in the meantime led to technical malfunctions postshop.ch led. However, our technicians are working on fixing the last few faults.

Stefan Dauner, Swiss Post AG

NFT stamps “to the moon”?

As can be seen in the picture, the left side of the paper shows a postage stamp, while the token ID (token type), the public key and the wallet address as well as a QR code can be seen in the middle. On the right there is a gray area that reveals the private key after scratching it free, similar to scratch-off tickets.

All pieces show a famous Swiss mountain and the moon. The rarer ones also have star images of different animals printed on them. This motif was chosen on purpose:

Crypto traders use the phrase “To the Moon” when prices are rising. We wanted to connect the idea of ​​“moon-wandering” with Switzerland. What towers high in the starry sky and up to the moon? Sure: our mountains! And what is more iconic than the Matterhorn? That was the hour of our design for the physical postage stamp.

Stefan Dauner, Swiss Post AG

Of the 13 different motifs, two show the 4478 meter high Matterhorn, one of them with the constellation of the marmot. The physical and digital postage stamps of the Matterhorn are now available 65,000 times, the marmot only 350 times. The rarest brands show the 2128 meter high Pilate with a kite. This collector’s item is only available 50 times. Dauner: “It is obvious: with the Swiss Crypto Stamp, stamps will be collected, exchanged and also traded digitally.”

Now those willing to buy cannot determine in advance which of the stamps they will buy. Instead, they buy just one stamp from this special series for CHF 8.90 (EUR 8.49) or CHF 10.90 (EUR 10.40). Only after receiving them can they see how luck has treated them. That’s why sales were limited to a maximum of 30 pieces per person. Dauner also explains the advantage for Swiss Post:

The postage stamp becomes a digital collector’s item. We are not only addressing classic collectors, but also crypto-savvy collectors. In addition, crypto postage stamps arouse interest beyond national borders and we also reach internationally interested “crypto collectibles” collectors.

Stefan Dauner, Swiss Post AG

Lots of terms, but actually not that difficult to understand

With the left part of the stamp, the new owner can collect and exchange a special edition of physical stamps as usual. Then there is the middle and right part. After purchasing the stamp, the QR code can be scanned or the token ID can be entered on the Swiss Post website. This gives the person the digital twin. The scratched-off private key ensures that the digital piece can only be sold and moved if the private key is entered.

Dauner left it open for the time being whether there will be more of these stamps in the future. He said: “For the time being, let’s see how the market reacts to our innovation and what develops abroad. It has not yet been decided whether we will launch more crypto stamps or develop something new. “

For those interested in tech

Technically, this process is carried out on the polygon blockchain. Swiss Post would have opted for this blockchain for the following reason:

The important property of Polygon is that it offers high throughput (fast transaction times) and low transaction fees. In addition, the polygon blockchain is more environmentally friendly than others. It takes less energy.

Stefan Dauner, Swiss Post AG

It is an ETH subsidiary that is particularly known for its climate-friendliness. This means that each token ID can receive any number of tokens, which in this context is called semi-fungible designated. This means that there are not 175,000 token IDs, but 13. This means that it is easier to specifically search for a specific crypto stamp motif on marketplaces using the token ID. At the same time, this increases interoperability in order to ensure easy exchange on other NFT marketplaces.