Japan Airlines and Hakuhodo Collaborate on NFT Collection
Japan Airlines (JAL) and Hakuhodo Inc have joined forces to develop a collection of non-fungible tokens (NFTs). The partnership aims to convert unique experiences from six regions of Japan into NFTs, promoting a sense of community among stakeholders globally. The launch is scheduled for February 2024. In an interactive advertising campaign, participants will be given missions to evolve their NFTs, with rewards including early purchase rights to the KOKYO NFT. JAL will handle service planning, while Hakuhodo will oversee project production. Other partners will contribute to various aspects of the initiative.
JAL’s Rival ANA Launches NFT Trading Platform
Last year, All Nippon Airways (ANA), Japan’s largest airline holding company, introduced a trading platform for NFTs based on the Ethereum blockchain. The platform features tokenized works by aviation photographer Luke Ozawa, 3D models of aircraft, and a collection of generative images called Airbits. The platform is owned by ANA NEO, a subsidiary of the aviation holding company.
Japan’s Crypto Industry Faces Challenges
Japan has become less attractive for cryptocurrency companies due to high taxation and strict regulations. Many crypto firms have left the country as a result. However, in response to the outflow of crypto companies, Japan has started revising its taxation policies for the crypto industry. The country is also considering allowing stablecoins into the domestic market and simplifying requirements for listing tokens on exchanges.
Hot Take: JAL and Hakuhodo Tap into NFT Trend in Japan
Japan Airlines and Hakuhodo’s collaboration on developing an NFT collection highlights the growing popularity of NFTs in Japan. By converting unique experiences into digital assets, the partnership aims to create a sense of community among stakeholders. This initiative also demonstrates the increasing adoption of NFTs by companies outside the traditional art world, such as airlines. As Japan revises its crypto industry regulations and taxation policies, it has the potential to attract more crypto firms and foster innovation in the blockchain space. The launch of JAL’s NFT collection and ANA’s NFT trading platform signal a growing interest in blockchain technology within the country’s aviation industry.
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