UAE emirate offers Soul NFT Plaques to honor partners

 

UAE’s government of Sharjah has honored its partners with the first Soul NFT (Non Fungible Token) plaque. Sharjah became the first in the world to introduce NFTs with SBT technology as its Higher Committee of the Government of Sharjah at GITEX Global 2022 honored the participants, supporting entities, departments, and media outlets for their contribution in the success of Sharjah’s participation in the global event with Soul NFT plaques.

 

Sheikh Saud bin Sultan Al Qasimi - Chairman of the Higher Committee for the Government of Sharjah at GITEX Technology Week 2022, Director of the Sharjah Digital Office, gifted the supporting entities non-fungible tokens digital trophies (NFTs) using Soul Bound Tokens (SBTs) technology, replacing traditional appreciation plaques for the first time ever in the world. A trophy is an NFT stored in a digital ledger, whose identity can be verified via the blockchain system.

 

SBT’s are digital identity tokens that represent the traits, features, and achievements that make up a person or entity. SBTs are issued by “Souls”, which represent blockchain accounts or wallets, and cannot be transferred or sold.

 

Sheikh Saud bin Sultan Al Qasimi said: “Based on the vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, our efforts continue to focus on the development of sustainable growth across all sectors. In line with the technology evolution that we are witnessing in all aspects of daily life, we have – for the first time ever in the world - replaced traditional appreciation plaques with sustainable digital assets to honor our partners”.