Jeju, a subtropical region of South Korea, plans to issue NFT-powered visitor cards to attract young, tech-savvy tourists in 2025.
Jeju's Goals and Plans
Jeju is keen to leverage digital technologies to increase visitor numbers and appeal to younger generations. The NFT cards will offer visitors discounts and travel subsidies.
Technological Shifts and Integration
The region plans to integrate the NFT project with the blockchain-based stablecoin Tamna Jeon, used for rechargeable prepaid cards that benefit both buyers and sellers, boosting the local economy.
Context and Regulation
Jeju faces challenges with South Korea's regulations on ICOs and NFTs, but local officials are pushing for change. Amidst the mixed regulatory stance towards NFTs, the island demonstrates potential for utilizing these technologies in tourism and economic growth.
Jeju's decision to issue NFT cards aligns with its ambition for digital transformation, despite the country's strict regulatory framework. Such initiatives open new possibilities for tourism and economic development.
