US Postal Service plans to support postage tokens

The United States Postal Service will soon be stepping into the NFT market to help customers purchase postage.

US Postal Service plans to support postage tokens

Through an announcement on Tuesday, communications-as-a-service platform CaseMail said the USPS had certified its postage non-fungible tokens for use in the United States. The tokens are digitally stamped on the USPS’ ePostage labels and the physical item being mailed, creating a verifiable chain of custody for digital and physical assets, as all data is recorded on the blockchain.

"Using NFTs to help protect a process that's both familiar and important to everyone helps demystify this important new technology,” said Joe Ruiz,  founder and CEO of CaseMail, “It is simply postage printed from the blockchain."

The company will first offer the postage tokens “exclusively for legal professionals and government agencies,” with a rollout planned for the second quarter to include partnerships with providers of consumer and business services. The government agency reported $73.1 billion in revenue from postage and other services in fiscal year 2020, meaning digital postage stamps could be running towards a large market.

CaseMail’s adoption of NFTs apparently could be a starting of a huge trend for companies to incorporate real-world data on digital tokens. 

In this year, individuals users and technology firms have used NFTs to take street art and creativity to the next level and develop a device capable of recording and encrypting temperature, air quality and other data to tokens in a proof-of-presence verification. The NFT space is on boom, we can say.