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Hashed and Naver Pay Collaborate on NFT-Based Ticketing in South Korea

Exploring the integration of NFT technology into Naver Pay for large-scale event applications and the future of Web3 in digital experiences.
Published on 2024-11-20

Introduction to the Collaboration

Hashed and its technology division, ShardLab, have partnered with Naver Pay, a leading mobile payment service in South Korea, to integrate NFT-based ticketing technology. This collaboration was showcased at Naver's annual technology conference, DAN24, marking a significant step in using NFTs for real-world applications.

Event Highlights and NFT Integration

At DAN24, over 20,867 NFTs were issued, and 8,849 transactions were processed, demonstrating the potential of NFT ticketing for large-scale events. Attendees utilized these digital assets for admissions and activity verifications, seamlessly integrated into the Naver Pay wallet. This integration illustrates a practical use case for merging Web2 and Web3 technologies, providing a proof of concept for future applications in events and concerts.

Technical Innovation by ShardLab

ShardLab's proprietary NFT technology, featuring airdrop APIs and smart contracts, facilitated this integration. Unlike traditional blockchain solutions requiring separate wallets, attendees accessed their NFT tickets directly through their existing Naver Pay accounts, simplifying the process and enhancing accessibility.

Strategic Vision and Future Prospects

The collaboration between Hashed, ShardLab, and Naver Pay highlights the potential of Web3 technologies in everyday digital experiences. This initiative aims to streamline user experiences without necessitating extensive technical knowledge. With 2.3 million users and $13 billion in quarterly transactions, Naver Pay offers a robust platform for expanding Web3 integrations.

About the Partners

Hashed, established in 2017, is a global blockchain-focused venture capital firm, actively investing in innovative startups. ShardLab serves as Hashed's innovation arm, focusing on Web3 R&D and ecosystem building in Southeast Asia. Naver Pay, a fintech service by Naver Financial, provides convenient payment solutions, partnering with e-commerce sellers to enhance user accessibility.

The collaboration is poised to expand into additional use cases, promoting blockchain technology adoption across diverse industries.

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