Hakuhodo and Japan Airlines begin second phase of KOKYO NFT trials

On February 5, Hakuhodo Inc., a Tokyo-based integrated marketing and innovation company, along with Japan Airlines Co., Ltd., declared their intent to conduct a second round of demonstration experiments for KOKYO NFT starting in February 2024. 

This project involves tokenizing unique local experiences and real-world assets (RWAs) as non-fungible tokens (NFTs), aiming to cultivate relationship populations among Japanese and international purchasers of these areas. 

Notably, a dynamic NFTs promotional campaign will be concurrently executed with the demonstration experiment, per the information shared with Finbold.

The primary collection, KOKYO NFT, is set to be hosted on Astar zkEVM, accessible at https://www.kokyo-nft.jp/. The anticipated release date for this primary collection is scheduled for March 3.

Multiple phases of introduction

Hakuhodo and Japan Airlines conducted their inaugural phase of demonstration experiments focusing on establishing relationship populations through KOKYO NFT, a category of non-fungible tokens providing distinctive local experiences. The feasibility of enhancing the value of local experiences was demonstrated, including the elevation of their rarity as limited experiences. 

Additionally, tokenizing experiences facilitated deepening connections between the recipients and local companies. After this, Hakuhodo and JAL discussed constructing a narrative for value creation, intending to transform inbound and domestic visitors into recurring relationship populations rather than one-time engagements.

The entities are progressing with a second round of demonstration experiments, incorporating insights from the initial phase and expanding the scope and content. This round emphasizes the tokenization of regional real-world assets (RWAs).

Utilizing Japan’s tourist and natural beauties

Considering Japan’s diverse and often lesser-known fascinating experiences and crafts, categorized as RWAs, the companies aim to tokenize these elements across six regions. The objective is to amplify relationship populations and foster new regional development by globally disseminating the value of these experiences to a broader audience.

Concurrently, a promotional campaign utilizing dynamic NFTs (dNFTs) is slated to coincide with the commencement of the demonstration experiments. This campaign will involve an evolving NFT experience, gradually shaping and changing an origami figure—a universally recognized symbol—appealing to domestic and international audiences.