The fashion for NFTs is gaining stamps

La Poste is putting its first NFT stamp on general sale on September 18, a captioned “NFTimbre” #NFTimbre1which combines a classic postage stamp and its digital image, an NFT (“non-fungible token”), that is to say its twin in digital format, printed in 100,000 copies.

An event which is part of the great times of philately.

Its face value is 8 euros – the transaction is only in euros, not in cryptocurrency to simplify access for philatelists to the product – and therefore does not correspond to any postal rate, if the buyer wishes to use the “paper” version of the stamp to frank a letter, which is at the origin of its vocation all the same!

It will be necessary, for example, to add additional postage of:

– 0.85 euros for a green letter weighing 1 to 2 kilograms;

– 0.38 euros for a registered letter in R1 from 100 to 250 grams;

– 0.52 euros for an R1 letter of 50 to 100 grams with acknowledgment of receipt…

This “non-fungible” token, that is to say non-interchangeable, imperishable and irreplaceable, serves as a digital property title, associated with a unique, numbered original asset, which only one holder owns, in this case here a postage stamp.

A dedicated platform

As the editor-in-chief ofTrump stamps, “the fact remains that the real stamp, the only one with the power of franking, is the paper one, its digital double having, for the moment, more of a certificate of authenticity function”.

La Poste has partnered with the technical development agency Wagmi to develop the NFTimbre platform and the NFT, recorded on the Tezos blockchain.

Note that La Poste is not a complete beginner on the subject, since in 2022 it launched a collection of photographic NFTs on Binance to raise money for the benefit of the French Red Cross. And that in March 2023, La Poste Ventures decided to invest in a French blockchain start-up called Carbonable.

Since August 21, fans can reserve this NFTimbre inserted in a block sold at the price of 8 euros. on a dedicated platform, the only sales network for this new product. La Poste explains that the “first day” sale of this stamp will take place on September 18, exclusively via its platform. “Purchases made on this date will be certified as ‘day one’ via the NFT itself.” Activation of the NFT will also allow its owner to discover an animated digital version of the block. “The NFT will make it possible to offer a unique identification of each stamp, facilitating its authentication and therefore its future resale value between collectors. »

Frédéric Morin, the deputy director of Philaposte (the management of La Poste responsible for designing and marketing the annual philatelic program), explains that La Poste could not be absent from this market which has been developing abroad for several years, with some success. For France, it is the order of the NFT stamp which will simultaneously activate its digital version, unlike certain foreign postal offices which dissociate the two purchasing maneuvers, sometimes resulting in “losses”.

The Faunesque artist

Currently, according to Mr. Morin, more than 10,000 reservations have been made. “Anyone who waits until Monday, September 18 to pre-register risks arriving too late”he explains according to the adage ” first come, first served “. We can indeed imagine that pre-registered people will not be limited to a single purchase.

He emphasizes that shipping costs are free from the purchase of two NFTimbres, and that the print run of 100,000 copies was set in consultation with the French Federation of Philatelic Associations (FFAP) and the French Trade Union Chamber of Traders and Experts. in philately. “There will be no reprint”he insists.

La Poste plans three other issues by the end of 2024.

For this first block, the artist Faunesque (aka Phil Constantinesco) chose to evoke the world of correspondence.

The fairly “classic” drawing (in a style that evokes Takashi Murakami or James Jean) thus presents a whirlwind of objects coming out of a mailbox: postcards, envelopes, administrative letters, love letters, fountain pen, pencil, ink pad… The postman on his electric bike seems to be flying to transmit messages. Flowers refer to nature, which has always been one of the sources of inspiration for the artist who today lives in Brussels and works for numerous magazines, from Marie Clairehas PhosphorusPassing by Psychologies Magazine, The Express, Telerama…

The “physical” object on which its face value of 8 euros is displayed itself includes innovative characteristics including a microperforation of the term NFT on an adhesive block, which will identify this new family of French stamps.

Gibraltar, Switzerland, Faroe Islands, Japan…

The French Post joins the circle of countries offering for several years now NFT stamps such as Gibraltar (the first, in 2018), Austria (which crossed the million copies sold mark), Switzerland (“Swiss Crypto Stamps” for which Swiss Post announces auctions!), Croatia, Portugal, the Faroe IslandsTHE United Nations or Japan. A list of countries that is kept up to date The Digital Philatelist.

Speculation does not fail to accompany this fashion phenomenon, as evidenced by certain prices reached on specialized sales sites and philatelic services. postal offices sometimes quickly running out of stock. To limit risks, orders for the NFT stamp are limited to fifty copies.

What are the characteristics of this NFTimbre, according to La Poste?

– Proof of origin: an NFT provides certified data on its origin. It allows you to verify an author and set up use cases. Holding an NFT means having proof of its origin. It benefits from a unique numbering (an alphanumeric code) recorded in the Tezos blockchain.

– Timestamp: each action on an NFT (creation, transfer, modification) is recorded in the blockchain.

– Qualification: it is possible to attach immutable qualities to an NFT, which will follow it throughout its life. Example: purchase on the first day of its issue.

– Single possession: an NFT can only be held by one person at a time, because it cannot be duplicated. However, an NFTimbre can be transferred from one person to another and retain its characteristics.

“A carbon impact”

The monthly The Echo of Timbrology of September does not fail to note, however, that “like any other digital object, and although protection systems have been put in place, it runs the risk of being hacked. In addition, digital backup systems evolve very quickly and some, considered obsolete, could be abandoned in favor of other more efficient ones..

Finally, the specialized journal recalls that “storing in databases has a carbon impact (…)”. In a less ecological way, Philaposte generated 900,000 NFT stamps of which 800,000 were destroyed – thus guaranteeing the randomness of the codes produced – without storing them, the most energy-consuming maneuver.

SO, why buy it ?

La Poste explains that “made by an artist, your stamp is a piece that has its place in your collection. You can store it, frame it, exchange it. Thanks to its digital twin, you can admire it on screen, in HD mode or in animated image.

It is a lasting objectue you can transmit and sell. Referenced at Yvert et Tellier, your stamp increases in value over time, like any classic stamp. The certificate of ownership associated with the digital twin gives additional value to the object.

With NFT stamps, you can monitor the number of stamps actually sold live. You know, for example, that you purchased No. 999 of the series. Of course, the NFT also gives you irrefutable proof that you purchased a “first day” stamp.” of its commissioning.

Expenses

Frédéric Morin nevertheless points out that we must expect “what costs [des frais de gaz] eventually be taken from NFT transactions »but “not before 24 months”. For the benefit of Tezos. “We’re talking about cents”he wants to clarify.

Isn’t this already the case when sellers use eBay services, for example, he notes…

Paradoxically, notes Frédéric Morin, the “first day” of the NFT stamp – timestamped to the day and time of purchase – could be less rare than its version purchased the next day! But it is still necessary that not all 100,000 copies have been sold by September 18. He advises trying to buy the 18th and 19th!…

That being said, “crypto stamps are arriving: illusion or new collection? »asks Philapostel Brittany, which reminds us in passing that the 175,000 Swiss crypto-stamps put on sale on November 25, 2021 were sold out on the 26th! Sparking a disillusioned comment: “NFTs are very large energy consumers. It’s really not in the (polluted) air of the times. What is the point of NFTs for current stamps? In my opinion none. Stamps can be works of art, but this notion is often lost in the creation of new stamps. It is simply an unnecessary fashion effect (…).”

What theUniversal Postal Union (UPU) responded very reassuringly ” In early spring “ 2023, with a definition of “the new generation of digital stamps” and by establishing a “taxonomy of digital philatelic products”: “The Postal Operations Council, the technical and operational body of the UPU, has approved the first ever set of recommended definitions for digital stamps, crypto stamps and non-interchangeable token (NFT) stamps, which constitutes an important step towards the digitization of philatelic media”.

The next Autumn Philatelic Fairorganized from November 8 to 10 at Espace Champerret, in Paris, will host an exhibition on NFT stamps from around the world, a first, according to Frédéric Morin, based on collections of Luc Mangina postal worker specializing in the issue.