Demand for crypto stamps crashes post office online store

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A total of 175,000 stamps will be issued, with 65,000 copies of the most common digital design but only 50 of the rarest SwissPost / Gregor Forster

The launch of La Poste’s first “crypto” stamp met with such demand that the online store was overwhelmed for several hours.

This content was published on November 25, 2021 – 6:45 PM November 25, 2021 – 6:45 PM

Keystone-SDA / ts

Sales of the “Swiss Crypto Stamp” began at 6 a.m. on Thursday. Demand was very high, which had “temporarily led to technical problems at postshop.ch”, Swiss Post told the AWP news agency. He said technicians were working to remove the remaining flaws.

In recent weeks, the Post has been contacted by many interested parties, said a spokesperson. Swiss Post was naturally happy with the high demand, he said, “but we didn’t expect it to be this high on day one”. The launch was announced at the end of September.

The crypto buffer consists of two parts. Although it is a physical stamp valued at CHF 8.90 ($ 9.50), each crypto stamp also has an associated digital image. This digital image shows one of 13 possible patterns, is stored in a blockchain, and can be collected, traded, and traded online.

A total of 175,000 stamps will be issued, with 65,000 copies of the most common digital design but only 50 of the rarest.

Swiss Post said on Thursday that around three-quarters of the stamps had already disappeared within the first three hours.

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