SBI Group, a prominent Japanese company, has announced its plans to release non-fungible tokens (NFTs) on the XRP Ledger for the World Expo 2025 in Osaka, Japan. These NFTs, featuring the official character of the EXPO called “MYAKU-MYAKU,” will be exclusively given to attendees of the event starting from April 13, 2025. While the NFTs will not have any monetary value and cannot be bought or sold, they will have proof of authenticity. The creation of a virtual wallet and minting of the NFTs on the blockchain will be free of charge, but registration for the app “EXPO2025 DIGITAL WALLET” will require ID verification.
Despite the recent decline in NFT trading, Japan’s SBI Group is actively embracing the technology by incorporating it into the World Expo 2025. In contrast, some American companies, such as PayPal and GameStop, have been taking steps back from NFTs. PayPal, for instance, announced that it will remove NFT purchases from its purchase protection program, starting from May 20. GameStop, on the other hand, shut down its NFT marketplace earlier this year, citing regulatory uncertainty in the crypto space.
The World Expo 2025, taking place in Osaka, Japan, is set to showcase the country’s technological advancements. In 2023, Osaka Digital Exchange Co. announced its plans to introduce Japan’s first-ever digital securities trading, revolutionizing the country’s financial landscape. The platform, called Osaka Digital Exchange (ODX), will feature security tokens issued by real estate companies Ichigo Inc. and Kenedix Inc., with a focus on property-backed investments from Ichigo.
Overall, Osaka has proven to be a crypto-friendly city, embracing new technologies and paving the way for innovation in the financial sector.
