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Crypto Potato 2025-01-07 05:15:51

South Korea’s Jeju Island to Launch NFT-Powered Tourism Cards by 2025

Jeju Island, South Korea’s most famous tourist destination, is embracing blockchain technology to transform its tourism sector. Starting in the second half of 2025, the self-governing province plans to roll out NFT-based digital visitor cards, offering discounts, travel subsidies, and special membership perks at popular attractions. NFT Visitor Cards Reports from local outlets indicate that the initiative targets Millennials and Generation Z travelers in a bid to boost the island’s tourism industry by providing a tech-driven experience. The NFT cards will leverage blockchain technology to store visitor data, such as travel history, photos, and videos, on a secure and tamper-proof platform. While details about the blockchain platform and card pricing are not yet available, a trial phase will precede the full rollout to test the program’s viability. This initiative builds on Jeju Island’s history of exploring blockchain technology. For instance, back in 2019, the island launched a government-backed research project to position itself as a global blockchain hub. Subsequent projects included a COVID-19 contact tracing app in 2021 and an energy usage tracking platform in 2022, both powered by blockchain. South Korea’s Web 3 Focus The move also aligns with South Korea’s broader focus on Web 3 and digital innovation. South Korea first started exploring NFTs in 2021 to examine the integration of this sector into its tax system. The following year, NFTs were used to raise funds for presidential campaigns in Seoul. More recently, the country’s financial watchdog, the Financial Services Commission (FSC), issued guidelines on NFTs wherein it outlined cases in which these tokens should be considered crypto assets. In addition, South Korea has committed significant resources to the metaverse. It had previously announced plans to invest more than $187 million to foster job creation and technological growth. Last month, South Korea’s trading volume saw a massive spike amid political tension. As a result, the country experienced a dramatic surge in crypto adoption. By the end of 2024, the country’s crypto user base had exceeded 15.5 million. The post South Korea’s Jeju Island to Launch NFT-Powered Tourism Cards by 2025 appeared first on CryptoPotato .