Put a stamp on it and send it out. The United States Postal Service (USPS) is gearing up for NFT stamps with a new partnership with VeVe. The move appears to be the first attempt at NFT by a U.S. government service or agency and bodes well for another huge sign of growth in the VeVe market.
Let’s take a look at the announcement and what it means for both parties.
VeVe and USPS: a new “packaged” deal
VeVe is kicking off November with a bang. According to the platform’s Medium page, a new partnership with the USPS and VeVe will see exclusive stamp NFT releases on the VeVe platform. This will be the Postal Service’s first foray into NFTs.
The partnership will celebrate “Easter” with four unique NFTs. Series 1 will drop on Tuesday, November 2, and according to details of the release, the series features some inspiration from the “ofrenda” (offerings) of the Day of the Dead. The offerings are in memory of loved ones and heroes who have passed away and are reflected in the four names of the NFT.
The first “child” in the series features a mint candy count of 7,666. The remaining three in the series also feature a Day of the Dead inspired “sugar skull” with a dwindling mint candy count.” The “Child with Hair Bow” will have 6,666, the “Father” will have 5,666, and the “Mother” will be the rarest in the series with 4,666.
The purchase process will be done through a “blind box” so users can’t choose their NFT – it will be randomly assigned at the time of purchase. Each NFT will cost $6, but it’s unclear if there is a purchase cap. There will also be secondary sales involved after the minting.VeVe and USPS worked with Luis Fitch on the design and illustration, and brought in Antonio Alcalá as art director.
ECOMI, the platform behind VeVe, has had great success since the token’s launch, and the future of the VeVe marketplace looks bright.
Collecting stamps dates back to the late nineteenth century and is in full swing with the release of the USPS NFT; in 2016, one of the rarest stamps in history sold for over $1.3 million. The USPS name seems to be thrown around when it comes to cultural engagement; earlier this year, a controversial Nike design was released that appears to be without USPS approval or authorization. The Nike “Postal Ghost” retails for $130 and has gone for over $200 on the resale market.
Meanwhile, VeVe continues to expand its list of mainstream partners. About a month ago, we took an in-depth look at VeVe, and the platform continues to make noise. Just last week, Disney signed a broader partnership with the platform – expanding IP to include content from Pixar and Star Wars – in anticipation of Disney+ Day later this month.