Hashed and Naver Pay Integrate NFT Ticketing Features Targeting South Korea's Web2 User Base

ShardLab — the technology arm of web3 venture capital firm Hashed — partnered with South Korean fintech Naver Pay to integrate non-fungible token (NFT) ticketing features.

Web3 venture capital firm Hashed’s technology arm, ShardLab, has partnered with South Korean fintech giant Naver Pay to integrate non-fungible token (NFT) ticketing capabilities.

According to a Nov. 20 announcement, Naver’s annual technology conference DAN24 featured the integration of NFT ticketing powered by Hashed’s Web3 infrastructure.

The event saw the issuance of nearly 21,000 NFTs and processed 8,850 transactions during the two-day event, which was attended by 6,000 people.

During the conference, attendees' digital assets were managed through the Naver Pay application, enabling NFT utilization for entry, activity verification, and prize entry. This marks one of South Korea's largest deployments of NFTs for real-world and event-based utilities.

NaverPay is South Korea’s most used mobile payment platform, according to Statista. Mi-young Lee, head of Pay Infrastructure and Business at Naver Pay, commented:

“DAN24 marks our first step in bringing NFT technology to Naver Pay Wallet, following the growing trend of NFT adoption in major events, concerts, and ticketing.”

“Together with Hashed's Web3 infrastructure, we were able to seamlessly integrate NFTs into the Naver Pay experience, making Web3 accessible to our vast Web2 user base.”

The integration of NFTs in Naver Pay, together with airdrop application-programming interfaces and smart contracts, enables Web3 to be accessible to a Web2 user base. The integration is powered by ShardLab’s infrastructure, which abstracts all Web3 complexities through APIs, backend smart contracts, and more.

Unlike most decentralized applications, which require separate wallets, all users could access their digital assets from within their regular wallets. Simon Kim, CEO of Hashed, stated:

“This collaboration with Naver Pay signifies a step forward in integrating Web3 technology into everyday digital experiences.”

“With our technical advisory and collaboration-friendly approach with Web2 companies, we can focus and accelerate the development of user-friendly Web3 infrastructure."

NFT-based tickets allowed attendees to hold proof-of-attendance while also streamlining authentication for event-related activities. Attendees were able to reap the benefits of a Web3-based system while interacting in a familiar manner, not unlike their experiences with Web2.

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