Naver Pay (Npay) is set to introduce non-fungible token (NFT) based digital tickets for the National Sports Festival.
Naver Pay announced on October 14 that it will implement NFT tickets and visitor authentication services for the 107th National Sports Festival, which will take place in Jeju Special Self-Governing Province starting on October 16. This marks the first time NFT digital tickets will be used for the festival.
Attendees can apply for digital tickets on the National Sports Festival website and, by linking their Naver ID to an Npay wallet, will receive NFT tickets for the opening and closing ceremonies immediately.
NFT technology will also be utilized for venue visit authentication. During the festival, attendees visiting over 70 venues in Jeju will receive NFT records of their visits for each location. A special commemorative NFT will also be provided for volunteers.
Collaborating with Jeju Province, Naver Pay has prepared benefits linked to local businesses and tourism.
First, those who apply for the National Sports Festival NFT tickets and authenticate their attendance at the opening and closing ceremonies or at the venues will receive 10,000 won in Jeju local currency, 'Tamna Money,' per transaction, with a maximum of 20,000 won per person. Additionally, 24 major tourist sites in the province will offer free admission or a 50% discount on entry fees for those presenting NFT tickets or participation certificates.
Im Mi-young, leader of Naver Pay's Payment Infrastructure and Business division, stated, "It is meaningful to provide attendees with a new experience based on NFTs at large-scale events like the National Sports Festival. We will continue to expand related services in the sports and entertainment sectors."
* This article has been translated by AI.
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