Government of Sharjah replaces appreciation plaques with NFT
The Higher Committee of the Government of Sharjah at GITEX Global 2022 honoured participants, supporting entities, departments, and media outlets for their contribution to the success of Sharjah’s participation in the global event.
Sheikh Saud bin Sultan Al Qasimi, Chairman of the Higher Committee for the Government of Sharjah at GITEX Technology Week 2022 and Director of the Sharjah Digital Office, gifted the supporting entities non-fungible tokens (NFT) in the form of digital trophies using Soulbound Tokens (SBT), replacing physical appreciation plaques and marking a global-first for the emirate. The trophies will be stored in a digital ledger whose identity can be verified via the blockchain system.
SBTs are digital identity tokens signifying traits, features, and achievements that make up a person or entity. SBTs are issued by ‘Souls,’ representing 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 technological evolution we are witnessing, we have replaced traditional appreciation plaques with sustainable digital assets to honour our partners, becoming the first in the world to do so.”