Hakuhodo and Japan Airlines launch second web3 “KOKYO NFT”

Hakuhodo and Japan Airlines (JAL) announced the second phase of demonstration experiments for “KOKYO NFT”, which aims to turn domestic and overseas purchasers into stakeholders of local communities by digitizing unique local experiences and real-world assets (RWA) as NFTs. The second phase will commence from February 2024.

In February 2023, Hakuhodo and JAL conducted the first phase of demonstration experiments for creating stakeholders through “KOKYO NFT”, which provides unique local experiences. The experiments verified the usefulness of adding new value to local experiences by increasing scarcity as limited offerings through NFTs, and deepening connections between experience participants, as well as between participants and local companies. To connect this to a value creation story of turning visitors from Japan and overseas into returning stakeholders, the companies discussed methods and will now conduct the second phase of expanded demonstration experiments incorporating insights from the first phase.

The second phase focuses on real-world assets (RWA) of regions. While Japan has various attractive experiences and craftworks, many remain little known. By regarding these as real-world assets (RWA) and digitizing them as NFTs across six regions, the aim is to appropriately disseminate the value of these experiences to more people worldwide and create new regional development to increase stakeholders.

In conjunction with the launch of the demonstration experiments, promotional initiatives utilizing dynamic NFTs will also be implemented. It will be an NFT experience where an origami, which is familiar to overseas audiences as well, dynamically folds into shape.

Overview

Six types of “KOKYO NFT” will be issued and sold on “Astar Network zkEVM Powered by Polygon”, an Ethereum layer 2 blockchain. Secondary distribution is planned on the NFT marketplace “Rarible”. Please see the official website and Twitter for details.

(1) Toyako Town, Abuta District, Hokkaido

The right to launch fireworks produced by purchasers themselves at the popular annual event held from spring to summer over six months at Lake Toya, the “Lake Toya Long-Run Fireworks”, will be sold as NFTs. The beautiful fireworks lighting up the night sky and reflecting on the surface of Lake Toya can be captured. In addition, NFT holders can participate in a special fireworks production experience.

(a) Scheduled sale start: March 24, 2024
(b) Sale price: 36,300 JPY (incl. tax)
(c) Experience program provided by: Toyako Onsen Tourism Association
(d) NFT URL: https://kokyo-nft.jp/fireworks-cruise

(2) Mito City, Ibaraki Prefecture

The right to directly taste the highly rare and valuable unpasteurized “Ametsuchi Junmai Daiginjo” premium sake at the brewery, offered by long-established sake brewery Myoraku Shuzo Co. since the Edo Period, will be sold as NFTs.

In addition, holding this NFT provides the privilege of priority purchase of “Ametsuchi” sakes in the future.

(a) Scheduled sale start: March 3, 2024
(b) Sale price: 80,000 JPY (incl. tax)
(c) Experience program provided by: Myoraku Shuzo Co.
(d) NFT URL: https://kokyo-nft.jp/premium-sake

(3) Echizen City, Fukui Prefecture

The right to create an original kitchen knife with artisans of “Echizen Takehamono”, a traditional craft from Fukui passed down for over 700 years, will be sold as NFTs. At Japan’s only specialized store for Japanese kitchen knife handles, the handle can be customized to personal tastes. In addition, NFT holders can participate in a tour of the workshops for Echizen’s traditional crafts such as lacquerware and washi paper.

(a) Scheduled sale start: March 24, 2024
(b) Sale price: 363,000 JPY (incl. tax)
(c) Experience program provided by: Ryusen Hamono Co./ Etoe by Yamaken Mokkou Co./ SOE Association
(d) NFT URL: https://kokyo-nft.jp/japanese-knife

(4) Yanagawa City, Fukuoka Prefecture

The right to become a newly welcomed retainer or “samurai” of the Tachibana family, former lords of Yanagawa domain with a 400-year history and culture, will be sold as NFTs. Holding this NFT provides access to stays at the Tachibana residence “Mihan” and samurai experiences wearing armor. Participants can also take part in annual events held by the Tachibana family.

(a) Scheduled sale start: March 24, 2024
(b) Sale price: 440,000 JPY (incl. tax)
(c) Experience program provided by: Former Yanagawa domain Tachibana residence Mihan / Tachibana Family Archives Foundation
(d) NFT URL: https://kokyo-nft.jp/samurai-family

(5) Minamitane Town, Kumage County, Kagoshima Prefecture

The right to jointly create and own an artwork with an artist for display at the annual “Tanegashima Space Art Festival” on Tanegashima will be sold as NFTs. World-renowned artist Yasuhiro Senda will supervise the artworks. Holding this NFT also provides access to a special planetarium tour held in a cave.

(a) Scheduled sale start: March 24, 2024
(b) Sale price: 36,300 JPY (incl. tax)
(c) Experience program provided by: Tanegashima Space Art Festival Executive Committee
(d) NFT URL: https://kokyo-nft.jp/space-art

(6) Amami City, Kagoshima Prefecture

NFTs offering the experience of taste-testing the maturation process of three types of kokuto shochu liquor crafted with music, originally sold in the first phase of experiments, will be reissued. Events are held in Amami every summer and winter, offering tastings, music concerts, and participation in parts of the production process. After maturation is complete, the three kokuto shochu liquors can be received in original bottles.

(a) Scheduled sale start: March 24, 2024
(b) Sale price: 36,300 JPY (incl. tax)
(c) Experience program provided by: Nishihira Shuzo Co.
(d) NFT URL: https://kokyo-nft.jp/kokuto-shochu

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