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Cryptocurrency News Articles

Jeju Island NFT “Visitors’ Cards” Aim to Attract Millennial and Gen Z Tourists

Jan 06, 2025 at 12:55 pm

Jeju Island, South Korea’s tropical paradise, is looking to attract millennial and Gen Z tourists with a unique twist—NFT-powered “visitors’ cards.”

Jeju Island NFT “Visitors’ Cards” Aim to Attract Millennial and Gen Z Tourists

Jeju Island, a popular tourist destination in South Korea, is preparing to launch NFT-powered "visitors' cards" to entice younger generations, specifically millennials and Gen Zers. According to a report by Maeil Kyungjae, the self-governing province of the island is planning to introduce these digital tourist cards in the second half of 2025.

The cards will be linked to non-fungible tokens (NFTs) on an unspecified blockchain and will offer tourists various benefits, including discounts and travel subsidies. The initiative aims to attract the MZ generation—a term used in South Korea to refer to millennials and zoomers—and boost tourism numbers, as reported by local media.

In addition, tourists holding Tao NFTs will be eligible for perks such as discounts on attractions, further enhancing the value of these digital collectibles. This marks Jeju Island's foray into the world of NFTs, a first for the region. Notably, Jeju is also planning to integrate these NFTs with its local stablecoin, Tamna Jeon, which was introduced in 2019 to stimulate the economy.

The stablecoin initiative involves both residents and merchants, offering rechargeable prepaid cards. By merging NFTs with this system, Jeju aims to provide extra benefits to visitors.

This move is particularly noteworthy considering South Korea's stringent regulations on NFTs, especially in the gaming sector. However, local authorities seem optimistic, aiming to use the Tao card to overcome regulatory obstacles and attract tourists in innovative ways.

Also Read: XRP Volumes on South Korean Crypto Exchanges beat BTC, DOGE

News source:www.cryptotimes.io

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Other articles published on Jan 08, 2025