Hakuhodo and Japan Airlines turn local RWA (real assets) into NFTs ─ 2nd round of “KOKYO NFT” demonstration experiment starts | CoinDesk JAPAN

Hakuhodo and JAL announced on February 5th that they will begin the second round of demonstration experiments for KOKYO NFT, which aims to turn special local experiences into NFTs and create a related population. Particular attention will be paid to regional real assets (RWA).

According to the release, Japan has a variety of fascinating experiences and crafts, but there are many that are not widely recognized. By treating them as real assets (RWA) and converting them into NFTs, they aim to spread their value around the world and increase the number of people involved.

Six types of RWAs will be converted into NFTs: Toyako Town, Hokkaido, Mito City, Ibaraki Prefecture, Echizen City, Fukui Prefecture, Yanagawa City, Fukuoka Prefecture, Minamitane Town, Kagoshima Prefecture, and Amami City, Kagoshima Prefecture. These include rare and valuable unpasteurized sake, and the right to make original knives with traditional craftsmen.
The blockchain platform uses Ethereum’s layer 2 blockchain “Astar zkEVM Powered by Polygon”. Secondary distribution is planned to be through the NFT marketplace “Rarible.”

｜Text: CoinDesk JAPAN Editorial Department
｜Image: From the release