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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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  • NFT
    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

  • Gaming
    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

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    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

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    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
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    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home NFT

Jeju Island, South Korea, Eyes NFT-powered Growth

March 6, 2024
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Jeju Island, South Korea, Eyes NFT-powered Growth
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Jeju Island, a subtropical province off the South Korean mainland’s south coast, says it wants to use non-fungible tokens (NFTs) to transform its economy.

According to CNB News, the island – which has its own legal and administrative status – wants to use NFTs to spark growth in the tourism industry, agricultural, livestock, and fisheries sectors.

Jeju Island Revamps Crypto Hopes?

Jeju officials have been trying to use the island’s legal system to foster crypto-powered growth since 2018.

Little has come of such efforts so far, however. Seoul has thus far refused to budge on its hardline stance on ICOs, play-to-earn games, and NFT regulation.

However, it appears politicians are now ready to make a fresh bid for change in Jeju.

The Jeju Island Governor Oh Young-hoon told attendees at an IT-related forum this week:

“This year, we are gradually making preparations to focus on digital transformation. The core of all this is Web3. We can apply Web3, including the use of NFTs, to all areas of the government. This will be a step forward.”

Oh added that provincial officials and private sector representatives were “discussing ways to make further progress together.” The Governor added:

“We have a goal of turning Jeju into an ‘NFT city.’ We are even thinking about ways to make payments convenient for everyone – both South Korean and overseas visitors – everywhere in Jeju.”

How Could NFTs Help Boost Jeju Economy?

NFT technology, Oh suggested, could help Jeju Island achieve this goal. Kwon Soo-ho, the head of the Korea Blockchain Industry Promotion Association’s educational operations, also claimed that blockchain technology and NFTs could be used throughout Jeju.

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READ ALSO

Ethereum Collections Lead NFT Sales Today

how NFTs became a global brand and a Web3 “social currency”

Executives from the Jeju Research Institute, Jeju Creative Economy Innovation Center, and “other related organizations” also attended the event.

Kwon said that NFT-related innovations could be “applied to various fields” in Jeju, including payments and traceability in the agricultural and “livestock products” industries.

Attendees also suggested using NFTs for hikers and walkers on the Jeju Olle Trail, a 437 km network of footpaths on the island’s coastline.

The trail is a major draw for foreign and domestic tourists. Speakers suggested awarding discount-bestowing NFTs to visitors who complete certain sections of the trail.

Hikers on the Jeju Olle Trail. (Rick McCharles [CC BY 2.0])

Other speakers suggested that NFTs could be used to promote sales and subsidies in the agriculture and fisheries sectors.

They also said that officials could use NFTs to help Jeju producers prove the authenticity of their goods and foodstuff.

Hana Bank offers mobile financial certificates in 16 languageshttps://t.co/1J4fhGPTg0

— The Korea Times (@koreatimescokr) March 4, 2024

Jeju is famous for delicacies including pork products from Jeju Black pigs. Another renowned local specialty is the hallabong, a citrus fruit closely related to the satsuma.

Attendees further talked about using NFTs “during currency exchange and payment” processes in Jeju.

They also resurrected talk of blockchain-powered “local currency” (aka local stablecoin) vouchers that could be pegged to the fiat KRW.

Officials said these could be used to provide subsidies and boost community spending in local outlets.

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Tags: EyesGrowthIslandJejuKoreaNFTPoweredSouth

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