Hakuhodo and Japan Airlines (JAL) will conduct a demonstration experiment of ”KOKYONFT,” which converts local experiences and real assets (RWA) into NFTs and turns domestic and overseas buyers into local people.
The two companies conducted the first demonstration experiment in February last year, and by turning it into an NFT, it is possible to raise the rarity of the experience as a limited experience, and to deepen the connections between the participants and between the participants and local companies. They have confirmed the usefulness of adding new value to local experiences.
They will discuss ways to create value by converting domestic and international visitors into a relevant population that will come back again and again, and will develop the second phase. The second installment focuses on regional real assets (RWA). By turning local experiences and crafts into NFTs in six regions, they aim to spread the value and create new regions that will increase the number of people involved.
For example, in Doyako Town, Hokkaido, people sell NFT rights to set off fireworks they produce at the famous Toyako Long Run Fireworks event, which is held for half a year from spring to summer.
In Mito City, NFT has acquired the right to directly taste ”Ameshita Uka Nama Sake”, which is rare and valuable among the highest quality Japanese sake ”Ameshita uka”, which has been provided by Meiri Sake Rui since the Edo period.
In Echizen City, Fukui Prefecture, the right to make original knives with the artisans of Fukui’s traditional craft ”Echizen Uchihamono”, which has been handed down by craftsmen for over 700 years, will be sold as NFT.