NFTs and metaverses

South Korean city of Jeju to issue NFT cards for tourists

According to local media, officials in the South Korean city of Jeju are planning to launch production — cards for tourists that will allow them to visit its attractions.

According to journalists, Korean tourists who have obtained the so-called digital resident tourist card will be able to use various benefits. Launch NFT- cards are scheduled for the second half of 2025.

With the new solution, authorities plan to encourage millennials and Generation Z to visit the island and increase the number of return visits.

Jeju plans to provide tourism subsidies, memberships and discounts on tourist destinations to Korean tourists who have obtained a digital resident card. The funds are expected to be paid in local currency. Officials hope this will have an economic revitalization effect.

In March 2024, city officials held a series of meetings to explore how and non-fungible tokens (NFT) can help the island’s economy. During the meetings, the issue of using NFT in the tourism industry, in particular for museums, restaurants and for the fishing industry.

Source

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