Japan Airlines and Hakuhodo Innovate with KOKYO NFT

In a groundbreaking move, Japan Airlines Co., Ltd. (JAL) and Hakuhodo Inc. have launched the second phase of their KOKYO NFT project in February 2024. This innovative initiative aims to transform local experiences and real-world assets (RWAs) into non-fungible tokens (NFTs), fostering deeper connections between Japanese and international enthusiasts and local Japanese regions.

The collaboration between JAL, Japan’s pioneering aviation company, and Hakuhodo, a Tokyo-based integrated marketing and innovation firm, leverages web3 technology to enhance community engagement and tackle the pressing issue of Japan's declining population. By tokenizing unique local experiences and crafts across six regions of Japan, the project aspires to attract repeated visits and stimulate regional development, highlighting the untapped value of these areas.

The initiative follows a successful first round of demonstration experiments in February 2023, which confirmed the potential of NFTs to add new value to local experiences. The companies are now expanding their efforts, focusing on regional RWAs to promote lesser-known Japanese experiences and crafts worldwide.

A highlight of this second phase is the introduction of dynamic NFTs, featuring an evolving origami design, aligning with the start of the demonstration experiments. This promotional strategy aims to engage participants in a series of weekly quests, culminating in special purchasing rights for completed NFT collections.

The six types of KOKYO NFTs to be minted include experiences like designing and launching fireworks in Toyako-cho, Hokkaido, tasting rare sake in Mito, Ibaraki, crafting a traditional knife in Echizen/Sabae, Fukui, becoming a vassal of the Tachibana Family in Yanagawa, Fukuoka, participating in the Space Art Tanegashima Light Festival, and experiencing the aging process of kokuto shochu in Amami, Kagoshima. These NFTs will be sold on the Astar zkEVM Powered by Polygon, anticipating secondary distribution on the NFT marketplace Rarible.

JAL and Hakuhodo's collaborative venture aims to explore the potential of NFTs in revitalizing local communities, addressing Japan's social challenges, and setting a benchmark for utilizing technology in cultural preservation. This initiative offers a novel approach for engaging with Japan's heritage, suggesting a promising future for sustainable tourism and economic growth, with the potential to inspire solutions for demographic challenges worldwide.