South Korea’s scenic self-governing province of Jeju Island plans to use non-fungible tokens (Jeju Island’s NFT) technology to alter its approach to tourism radically. Maeil Kyungjae (MK), a South Korean journal, recently reported that the island’s government are undertaking an innovative program to improve the visitor experience, funded by NFT. Digital visitor cards powered by NFTs will be introduced to Jeju in 2025, providing users exclusive perks during their stay. With this effort, Jeju demonstrates its dedication to engaging tech-savvy tourists and staying up-to-date with the ever-changing digital world.
Jeju Island Unveils NFT Tourist Cards
In the second half of 2025, Jeju Island plans to launch its tourist cards based on NFTs. These digital cards will offer travellers various benefits by utilising blockchain technology. The study states that discounts, membership benefits, and travel subsidies tailored to domestic tourists will be available to cardholders. This project aims to make the experience more interesting and satisfying for tourists.
Although the exact blockchain technology behind these cards is still a mystery, they will enable travellers to document all their information safely while on the road. All the places they went, the pictures they took, and the movies they recorded while they were there are part of this. Ensuring every traveller has a secure and personalised experience, the data on these cards will be tamper-proof. Travellers from Generation Z and Millennials, who are more likely to be open to new technology, are the target audience for this program.
Jeju Island Introduces NFT Visitor Cards
Another step in Jeju Island’s investigation of Web3 technology is the launch of visitor cards powered by Jeju Island’s NFT. The island has dabbled in blockchain technology before. As part of the ‘Global Blockchain Hub City Creation Research Service,’ Jeju started exploring blockchain solutions in 2019. With a budget of 170 million KRW (about Rs. 1 crore), this project sought to provide the public with a hands-on experience with blockchain technology.
Plans for a blockchain-based energy usage platform were laid forth by Jeju Island in 2022, further expanding their blockchain initiatives. Using a distributed ledger, this technology will monitor how much energy residents save and how much money they spend. Considering Jeju’s track record of utilising blockchain-based public service solutions, launching NFT visitor cards is an inevitable next step in the island nation’s continuous investigation of blockchain technology. In addition to improving the vacation experience, this project promotes Jeju as an innovative, tech-savvy vacation spot.
South Korea to Regulate NFTs as Assets
The digital asset sector in South Korea is expanding quickly, and the country is working hard to establish legislation for it. This includes NFTs. Midway through 2024, news broke that South Korean regulators categorised NFTS as virtual assets, just like cryptocurrencies. Because of their inherent monetary value, the Financial Services Commission (FSC) has declared that NFTs can function as a medium of exchange, classifying them as virtual assets.
The nation is keen on growing its presence in Web3 industries, such as the metaverse. South Korea aims to develop job opportunities in the emerging field of the metaverse by investing about $177 million (roughly Rs. 1,372 crore) into initiatives in 2022. South Korean exchanges must follow Know Your Customer (KYC) requirements, even if cryptocurrency trading is legal. No nation has officially recognised cryptocurrencies as legal tender yet.
South Korea’s Crypto Users Hit 15 Million
There are reports that indicate that the number of people using cryptocurrencies in South Korea has increased to 15 million as of December 2024. The fact that this is the case suggests that the general populace of the country is becoming more enthusiastic about digital assets. Jeju Island is doing more than simply improving its tourist strategy by getting ready to launch Jeju Island’s NFT visitor cards; it is also supporting South Korea in attaining its more ambitious goals in the Web3 field. This is because Jeju Island is preparing to enhance its tourism strategy.
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