Japanese financial behemoth SBI Holdings has disclosed its intention to roll out a new Non-Fungible Token (NFT) service on the XRP Ledger (XRPL). The digital collectible — dubbed “EXPO2025 Digital Wallet NFT” (aka “Myakoon!”) — is a collaborative effort between SBI VC Trade (the crypto trading arm of SBI) and SBINFT (a subsidiary focused on NFT ventures). The digital collectible will be accessible through a specialized website created by SBI VC Trade.
A Global Exposition serves as a platform to unite individuals and groundbreaking advancements from across the globe, aiming to tackle challenges that humanity confronts on an international level. The 1970 Expo in Osaka marked not only Japan’s but also Asia’s inaugural exposition, and it emerged as an emblem of Japan’s swift economic ascent and as one of its most celebrated occasions. Two decades following the 2005 Aichi Exposition, the 2025 Expo in Osaka, Kansai, is set to welcome the global community back to Japanese soil.
Expo 2025 is a Global Exposition authorized and coordinated by the Bureau International des Expositions. Scheduled to be hosted in Osaka, Japan, the event will span a duration of six months in the year 2025, commencing on 13 April 2025 and concluding on 13 October 2025.
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According to a report by The Crypto Basic, the “Myakoon!” NFT is a component of a broader service that SBI Holdings aims to introduce, targeting the collection of NFTs for Expo 2025. According to the company’s announcement, the service is slated to kick off in May 2024.
SBI Holdings has plans to make the NFT service available to an estimated 28 million attendees of the 2025 Expo. However, it’s worth noting that the “Myakoon!” NFTs will be non-transferable and cannot be resold in secondary markets. The company also revealed that expo attendees could earn additional NFTs by completing specific tasks announced before, during, and after the event. SBI Holdings has secured its position as one of the principal sponsors for this world exposition. The company’s NFT service will be integrated as a feature in the “EXPO2025 Digital Wallet.”
The decision to utilize the XRP Ledger for the NFT project aligns with SBI Holdings’ previous endorsement of the blockchain. In 2021, the company highlighted the XRP Ledger as an optimal choice for NFT applications, citing its minimal transaction fees and instantaneous settlement capabilities.
Featured Image via Pixabay
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- Source: https://www.cryptoglobe.com/latest/2023/10/xrp-japanese-financial-giant-sbi-holdings-unveils-nft-initiative-on-xrp-ledger-for-world-expo-2025/
