Japan's blockchain company, 24karat, announced on December 22nd its plans to sell NFTs through approximately 1000 vending machines deployed nationwide. These machines, named "AIICO," situated in major urban terminal stations, large commercial complexes, gaming centres, and internet cafes, aim to engage with over 100 million individuals monthly.
TOKEN SPOT offers NFT sales through vending machines. All images are for illustration purposes only. (Image Source: PR TIMES & X.com @shinjuku_alta)
The NFTs offered for sale won't just include popular content but will encompass premium items, including new projects. The vending of these NFTs is slated to commence test sales in February 2024, with the first sales already scheduled through closed invitations.
The AIICO vending machines will enable users to select and purchase NFTs directly. Users can scan the displayed QR code on the machine with their smartphones, facilitating the transaction through their devices. The purchased NFTs can then be minted on a web app and stored in a dedicated wallet provided by 24karat, catering to over 130,000 users.
Furthermore, these NFTs may be circulated in secondary markets. 24karat's app provides pathways for NFT transfers to wallets like MetaMask, enhancing the potential for secondary sales within the NFT marketplace through transfers.
The NFTs offered by 24karat will be minted on the Flow blockchain. Notably, Flow is the blockchain developed by Dapper Labs, also employed in the NFT game "NBA Top Shot."
Specific placement information for the vending machines remains under preparation. However, they are expected to cover over 95% of prefectures, focusing on major metropolitan areas. The variety of NFTs to be sold will primarily include web-based IPs, emphasising familiarity for casual users.
Earlier this year, 24karat completed a pre-Series A round, securing ¥120 million in third-party allocation through investors like Lotte Ventures Japan, XTech Ventures, Mitsubishi UFJ Capital, and SMBC Venture Capital, raising their total funding to ¥180 million. Additionally, in July, they collaborated with Adinote, the manufacturer of AIICO, to conduct a pilot experiment distributing new NFT illustrations of the popular project "MEGAMI'' at a vending machine in Shinjuku Alta.
The initiative by 24karat to introduce NFT sales via AIICO machines signifies a significant step in democratising access to the NFT market, targeting both seasoned collectors and casual users. The emphasis on widespread accessibility and the strategic placement of vending machines across Japan's urban hubs could potentially foster broader NFT adoption, particularly by incorporating popular IPs from web-based content. Moreover, the integration of Flow blockchain enhances confidence in the platform's technical reliability, setting a precedent for similar ventures worldwide. As the NFT landscape evolves, initiatives like these might contribute to the sustainable growth and diversification of the blockchain-driven economy.
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