American Express Introduces Blockchain-Based ‘Travel Stamps’

American Express has introduced Ethereum-based ‘travel stamps’ to create a commemorative record of travel experiences, as part of the firm’s revamped travel app.

The travel experience tokens, which are technically NFTs (ERC 721 tokens), are minted and stored on Coinbase’s Base network, said Colin Marlowe , VP, Emerging Partnerships at Amex Digital Labs.

The travel stamps, which can be collected anytime a traveler uses their card, are not tradable NTF tokens, Marlowe explained, and neither do they function like blockchain-based loyalty points – at least for the time being.

“It’s a valueless ERC-721, so technically an NFT, but we just didn’t brand it as such. We wanted to speak to it in a way that was natural for the travel experience itself, and so we talk about these things as stamps, and they’re represented as tokens,” Marlowe said in an interview.

“As an identifier and representation of history the stamps could create interesting partnership angles over time. We weren’t trying to sell these or sort of generate any like short term revenue. The angle is to make a travel experience with Amex feel really rich, really different, and kind of set it apart,” he said.

Fireblocks is also involved, supporting Amex as its Wallet-as-a-Service provider for the passport product, a Fireblocks representative said.

The Amex travel app also includes a range of tools for travels and Centurion Lounge upgrades, the company said.