Forget fridge magnets, American Express (NYSE:AXP) is letting users turn their travels into blockchain collectibles that never fade.
U.S. cardholders can now earn "beautifully designed" digital collectibles that visually represent the countries they visit when they use their cards abroad, Amex announced on Sept. 15. The so-called stamps can be customized with trip highlights and shared with friends and family via text, the company said.
Amex said the stamps are stored as NFTs on the Coinbase-incubated (NASDAQ:COIN) Ethereum Layer 2 Base, but have no monetary value and cannot be transferred. It is Amex’s second collaboration with Coinbase in recent months. In June, Coinbase announced the Coinbase One Card, an Amex-powered credit card offering users up to 4% cash back in Bitcoin.
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Meanwhile, Institutional digital asset custody solution provider Fireblocks said that it is the wallet-as-a-service provider for Amex Passport stamps, "enabling Amex to provide Card Members with a blockchain wallet behind the scenes."
Amex Digital Labs Vice President Colin Marlowe told Benzinga that the company chose to use NFTs for its travel stamps to ensure durability of the collectibles. He also told Benzinga that Amex is covering blockchain fees on behalf of customers without detailing how.
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The Amex Passport stamp is part of Amex’s effort to enhance the travel experience of its users. The company launched the Amex Travel App on Sept. 18, allowing users to plan and book their trips in one place.
A survey which informed the Amex Travel App showed that 73% of respondents wanted more ways to digitally commemorate their travels and 56% miss receiving passport stamps.
But the Amex Passport stamps are also accessible in the standard Amex mobile application. The Amex Passport stamp offers yet another instance highlighting Web3’s subtle integration into the mainstream.
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