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South Korea’s Jeju Island to Launch NFT-Powered Tourism Cards by 2025
Jeju Island, South Korea’s most renowned tourist destination, is poised to revolutionize its tourism industry by introducing NFT-powered visitor cards by the second half of 2025. According to recent reports, these innovative digital visitor cards will be built on blockchain technology, offering a range of perks and incentives to tourists.
The primary objective behind this initiative is to attract younger tourists who have grown accustomed to engaging with digital experiences. The aim is to boost the island’s tourism sector by providing an immersive experience that combines cutting-edge tech with unique offerings. For instance, visitors will be eligible for discounts, travel subsidies, and exclusive membership perks at popular attractions.
The NFT visitor cards will also utilize blockchain technology to securely store visitor data, including their travel history, photos, and videos, on a secure and tamper-proof platform. While specifics regarding the blockchain platform and card pricing have not been disclosed, it is reported that a trial phase will precede the full rollout of the program to test its viability.
This development builds upon Jeju Island’s background in exploring blockchain technology. In 2019, the island launched a government-backed research project aimed at establishing itself as a global blockchain hub. This was followed by the launch of a COVID-19 contact tracing app in 2021 and an energy usage tracking platform in 2022, both utilizing blockchain technology.
The move also aligns with South Korea’s broader focus on Web 3 and digital innovation. As early as 2021, South Korea began examining the integration of NFTs into its tax system. In the following year, NFTs were employed to raise funds for presidential campaigns in Seoul. Moreover, South Korea’s financial watchdog, the Financial Services Commission (FSC), issued guidelines on NFTs in which it outlined scenarios where these tokens should be considered as crypto assets. It is worth noting that South Korea has made a significant investment in the metaverse, having announced plans to invest more than $187 million to promote job creation and technological growth.
In recent times, South Korea’s trading volume witnessed an enormous spike amid political tension. This resulted in a drastic surge in crypto adoption by the end of 2024, with over 15.5 million people joining the crypto community.
Source: cryptopotato.com
