Together, Hakuhodo Inc. and Japan Airlines Co., Ltd. (JAL) are taking a novel approach to the non-fungible token (NFT) market. This innovative project, which is scheduled to launch in February 2024, intends to convert unique experiences from six different parts of Japan into digital assets known as NFTs.

Creating Digital Assets Out of Special Experiences

The NFT series, created in partnership with KOKYO NFT, aims to capture the spirit of several Japanese regions by delivering a digital depiction of their distinct geographical and cultural features. By digitizing assets like real estate and artwork, the developers hope to promote a sense of community. Their global outreach is aimed at stakeholders in Japan and other countries.

Dynamic NFT Advertising Campaign with an Origami theme

Dynamic NFTs with an origami motif are part of an entertaining advertising effort that will coincide with the imminent NFT launch. Assignments that dynamically evolve the NFTs of participants will be given in this interactive endeavor. Participants who successfully complete these missions will receive early access to the KOKYO NFT collection. While Hakuhodo will handle the project’s production, Japan Airlines will be in charge of service planning. It is anticipated that a number of other partners will participate in different ways to this creative project.

Taking on Social Issues with NFTs: Hakuhodo emphasizes in a statement the wider social implications of their partnership with Japan Airlines: “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.”

The NFT Trading Platform of ANA: An Example

All Nippon Airways (ANA) launched a non-fungible token trading platform based on the Ethereum blockchain, marking the first entrance into the field of NFTs in the aviation industry in Japan. ANA’s platform includes 3D models of several planes, a set of generative photographs called Airbits, and tokenized pieces by aviation photographer Luke Ozawa. The move by Japan Airlines is consistent with the trend that ANA started and demonstrates the growing interest in using blockchain technology in the aviation sector.

Japan’s Changing Environment for Cryptocurrencies

Japan and the cryptocurrency industry have a complicated relationship because of the country’s high taxes and strict regulations, which have forced numerous crypto companies to leave. But recent events suggest that the nation’s strategy has changed, as Japan has started to reassess the taxation of the cryptocurrency sector in an effort to draw and keep companies. The country is also looking into the prospect of streamlining the requirements for token listings on exchanges and bringing stablecoins to the domestic market. This changing regulatory landscape points to a possible comeback in Japanese interest in cryptocurrencies.