More than two years have passed since the height of the non fungible token (NFT) boom. Yet Nissan has just announced plans for a new Japanese web3 loyalty program involving NFTs. While NFTs are way past their peak in Europe and the US, they are continuing to prove popular in Japan.
We’re speculating there are cultural reasons for this. Japan is home to the graphic novel and anime cartoons. The visual nature of NFTs is a good match and there’s a deep pool of content to leverage. Japan also has a culture rewards such as Yuutai, the practice where stockholders receive rewards. For example, airlines will provide shareholders with discounted flights. Hence, the combination of the visual nature of NFTs and rewards programs is a good fit in Japan.
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