Naver Pay to debut NFT admission instead of paper tickets at National Sports Festival

[Financial News] Naver Pay (Npay) will introduce Npay Wallet-based non-fungible token (NFT) tickets and a visitor verification system at the National Sports Festival, which will be held this month in Jeju Special Self-Governing Province.
According to Naver Pay on the 14th, Npay Wallet-based NFT tickets and a visitor verification system will be used at the 107th National Sports Festival, which opens on the 16th in Jeju Special Self-Governing Province. It will be the first time NFT digital tickets are used at the National Sports Festival.
An NFT is an electronic certificate that uses blockchain technology to prove ownership and uniqueness of a digital asset. Each NFT has unique identifying information and cannot be replaced by another token. NFTs are used in areas including digital art and game items, as well as tickets to performances and sporting events and membership verification.
Previously, Npay Wallet-based NFT tickets were also used for admission to the opening and closing ceremonies of the 46th National Para Sports Festival, held from the 11th to the 16th of last month.
After applying for a digital ticket on the National Sports Festival website, users can set up an Npay Wallet linked to their Naver ID to receive NFT tickets for the opening and closing ceremonies. Attendees can use these NFT tickets instead of paper tickets to enter the ceremonies at Jeju World Cup Stadium.
Npay Wallet is a Web3 digital asset wallet service that anyone can easily use with a Naver ID. It allows users to securely store and manage NFT tickets for large-scale events such as sporting events and festivals. One of its features is that it can prevent ticket counterfeiting and fraudulent transactions.
Npay Wallet-based NFTs can also be used to verify participation in the festival and visits to venues. Through the 22nd, while the festival is underway, all spectators visiting the province’s about 70 venues can receive an NFT record of their visit to each venue in their Npay Wallet and keep it permanently. Separate commemorative NFTs will also be issued for volunteers.
Various benefits linked to local businesses and tourist attractions will also be offered to holders of National Sports Festival NFT tickets. Those who verify their attendance at the opening or closing ceremony, or at an event venue, will receive 10,000 won in Jeju’s local currency, Tamnaneunjeon, per visit. Each person can receive up to 20,000 won.
Lee Mi-young, a senior lead for Npay Pay Infrastructure & Biz, said, “We will expand services linked to Npay Wallet across a wider range of sports and entertainment areas. We will work to provide spectators with new NFT-based content experiences and contribute to the spread of a safe spectator culture.”

[email protected] Kim Tae-il Reporter