Jeju Island, a popular tourist destination in South Korea, plans to introduce special digital tourist cards connected to NFTs (non-fungible tokens) to attract younger travelers, like millennials and Gen Z. These cards will provide perks and benefits for tourists visiting the island.
Purpose of the NFT Tourist Cards:
The goal is to make Jeju more appealing to younger generations and encourage them to visit repeatedly. The cards will offer discounts and travel benefits at attractions on the island. A trial is set to happen before the full launch in late 2025.
Now, Jeju Island is known for its natural beauty, including hiking trails and resorts. It is South Korea’s first self-governing province with its own government. The island has explored blockchain technology before, using it for a COVID-19 contact tracing app in 2021.
In March 2024, Jeju officials discussed how blockchain and NFTs could support the economy. Ideas included using NFTs for museums, restaurants, and even the fishing industry to innovate and boost tourism and local businesses.
Crypto Growth in South Korea
Crypto has been growing in popularity in South Korea, especially after optimistic regulatory developments in the U.S. In November 2024, over 600,000 South Koreans joined the crypto space, bringing the total to 15.6 million users, about 30% of the country’s population.
What You Should Know
NFT sales in 2024 reached $8.83 billion, slightly higher than in 2023 but far below the record $23.7 billion in 2022. This shows the NFT market is still significant, even though it has cooled from its peak.
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