Japan Airlines Co., Ltd. (JAL) and Hakuhodo Inc have partnered to develop a joint collection of non-fungible tokens (NFTs).
According to a blog post by KOKYO NFT, the initiative, scheduled to launch in February 2024, aims to convert unique experiences from six regions of Japan into non-fungible tokens.
According to the developer, one of the global goals of the NFT launch is to promote a sense of community among stakeholders both in Japan and around the world by digitizing assets such as art and real estate.
In parallel with the upcoming challenge, an advertising campaign uses dynamic origami-themed NFTs. In this interactive setup, participants are given missions that allow their NFT to evolve. Those who complete these missions will be rewarded with early purchase rights to the KOKYO NFT. JAL will manage service planning, while Hakuhodo will oversee the project’s production. Additional partners will contribute to various aspects of this initiative.
“Hakuhodo and JAL will verify the possibility of creating a related population through demonstration experiments and contribute to solving the major social issue of Japan’s declining population.”
Last year, Japan’s largest airline holding company, All Nippon Airways (ANA), launched a trading platform for non-fungible tokens based on the Ethereum blockchain. The platform features tokenized works by aviation photographer Luke Ozawa, 3D models of various aircraft, and a collection of generative images called Airbits in the form of pixelated pilots. The owner of the platform is a subsidiary of the aviation holding – ANA NEO.
At the same time, Ponia has gained the status of an unattractive region for cryptocurrency companies. The main reason is high taxation and strict regulations. Because of this, many crypto firms left the country.
However, since last year, the country has begun revising the taxation of the crypto industry against the backdrop of an outflow of crypto companies from the country due to high taxes. The country is also considering the possibility of admitting stablecoins to the domestic market and simplifying the requirements for listing tokens on exchanges.