South Korea’s Jeju Island Uses NFT Cards to Promote Tourism

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Jeju Island, South Korea’s tropical haven, is aiming to captivate younger travelers (millennials and Gen Z) by introducing a novel approach – NFT-based “visitor’s cards” or “Tao” cards, as they are called. As reported by Maeil Kyungjae, Jeju Island’s autonomous region intends to distribute these digital tourist passes in the latter part of 2025.

The cards associated with non-interchangeable digital assets (NFTs), housed on an unnamed cryptocurrency network, are designed to provide discounts and travel incentives for tourists. This project is aimed at the MZ generation, or millennials and Gen Z, with the goal of attracting more visitors and encouraging repeat tourism as reported by local news outlets.

As an added incentive, tourists who possess Tao NFTs will be eligible for special deals like reduced prices at attractions. This move signifies Jeju Island’s entry into the realm of Non-Fungible Tokens (NFTs), a pioneering step for the region. Furthermore, these NFTs are being linked with the local digital currency, Tamna Jeon, which was introduced in 2019 as part of efforts to stimulate the economy.

This digital currency encourages local residents and businesses by providing them with rechargeable prepaid cards. By combining NFT technology into this setup, Jeju intends to provide extra perks to tourists.

This action appears daring, given South Korea’s stringent restrictions on NFTs, notably within the gaming industry. Yet, local officials express confidence, aiming to leverage the Tao card to surmount regulatory obstacles and attract tourists in innovative methods.

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2025-01-06 09:42