SBI Group’s NFT Initiative at World Expo 2025
Japan’s SBI Group has announced its plans to launch non-fungible tokens (NFTs) on the XRP Ledger during the upcoming World Expo 2025 in Osaka, Japan. These NFTs are set to be distributed to attendees of the event, starting from April 13, 2025. The exclusive NFTs will feature “MYAKU-MYAKU,” the official character of the EXPO, according to pre-event marketing material.
- The “MYAKU-MYAKU” NFTs, although having no monetary value for purchase or sale, will come with proof of authenticity.
- Attendees will be able to claim these NFTs for free at the event, with no fees involved in creating a digital wallet or minting them on the blockchain.
- Registration for the app “EXPO2025 DIGITAL WALLET” will require identification.
Decline of NFT Trading Among American Firms
While Japan’s SBI Group gears up for the NFT release at the Expo, several American companies are witnessing a decline in NFT trading. Notably, PayPal recently announced its decision to exclude NFT purchases from its protection program starting May 20, citing purchases made through third-party platforms using PayPal Balance.
In a statement, PayPal emphasized the exclusion of NFTs from its protection policies, aligning with the industry trend.
Additionally, GameStop closed down its NFT marketplace earlier in response to regulatory uncertainty in the cryptocurrency space, indicating a broader trend of dwindling interest in NFTs. Data from Statista reveals a continuous decline in the number of active wallets engaged in NFT trading over the past year.
The World Expo 2025 in Osaka, Japan, promises to be a significant event for the digital landscape. In 2023, Osaka Digital Exchange Co. unveiled plans to revolutionize Japan’s financial sector with the country’s first digital securities trading platform. The Osaka Digital Exchange (ODX) introduced digital securities, focusing on security tokens issued by real estate companies Ichigo Inc. and Kenedix Inc., with an initial emphasis on property-backed investments from Ichigo.
