In the wake of the NFT mania of 2021, Switzerland swiftly emerged as a leading player in the evolving landscape of blockchain technology. More recently, despite a downturn in NFT prices, Swiss entities, from start-ups to universities, are forging ahead, experimenting with the technology and exploring its potential.
Key drivers of this Swiss NFT movement include pioneering bodies such as the NFT Think Tank and the Swiss Metaverse Association, underscoring the nation’s commitment to staying at the cutting edge of the Metaverse and NFT innovation.
This new digital frontier presents a compelling opportunity for Swiss firms to tap into the next-generation market – the tech-savvy Gen Z. The challenge now lies in effectively harnessing Web3, Metaverse, and NFTs to engage this demographic.
Several Swiss NFT projects have made their mark with real-world applications. BLS Schiffahrt has launched a proof-of-visit NFT project, capitalizing on the influx of tourists attracted to the boat landing place at Itseltwald made famous by the Korean Netflix series “Crash Landing on You.” By selling phygital NFT cards themed around Itseltwald, BLS Schiffahrt has ventured into a unique fusion of physical and digital worlds.
In another innovative initiative, Crypto Gold Vreneli has digitalized the famous Swiss Gold Coin, “Gold Vreneli,” via an NFT. The project, led by Vivents and gold company Philoro, creates a hybrid gold coin embedded with an NFC chip. This NFT not only serves as proof of ownership but also gives access to the digital asset of the collectible.
Meanwhile, the Swiss Post has released the third edition of its NFT collection, the Swiss Crypto Stamp, using artificial intelligence to design the motifs. EV Zug’s “EVZ BULLS” series has turned heads as a successful NFT fundraiser for the EVZ junior team and their training concept “The Hockey Academy.”
Zurich-based NFT consulting company, NFTKarten.ch, is easing the entry for Swiss companies into the NFT space by offering beginner-friendly solutions for physical NFTs, while Camino Network, a startup based in Zug, uses NFTs and digital wallets for personalized travel experiences, attracting international travel companies like Lufthansa and TUI.
However, as Swiss companies continue to innovate in the NFT and broader Web3 space, it raises an inevitable question. Can Switzerland compete with other Web3-focused hotspots such as Hong Kong, France, and Japan? The race is on, and only time will tell.