Naver Pay and ShardLab Introduces NFT-Based Ticketing at South Korea’s Major Conference
Seoul, South, Korea, November 20th, 2024, Chainwire
Hashed and its technology arm, ShardLab, have joined forces with Naver Pay, one of the highest-used mobile payment services in South Korea, to integrate NFT-based ticketing technology.
The collaboration, which debuted at Naver's annual technology conference, DAN24, saw over 20,867 NFTs issued and 8,849 transactions processed during the two-day event, with a total of 6,000 attendees, making this initiative one of South Korea's largest deployments of NFTs for real-world and event-based utilities.
During the event, these digital assets were seamlessly integrated into the Naver Pay wallet, enabling their use for admission, activity verification, and prize entry. The integration of NFTs into an existing payment system used by millions represents a strong use case bridging Web2 and Web3 for mainstream audiences and provides proof of concept for broader applications in events, concerts, and large-scale activities.
The integration leverages ShardLab’s proprietary NFT technology, including airdrop APIs and smart contracts, to provide a user-friendly solution. Unlike traditional blockchain applications that require separate wallets, at the event attendees could access their NFT tickets directly within their existing Naver Pay accounts, bringing a simplified process removing barriers to adoption.
“This collaboration with Naver Pay signifies a step forward in integrating Web3 technology into everyday digital experiences,” said Simon Kim, CEO of Hashed. "With our technical advisory and collaboration-friendly approach with Web2 companies, we can focus and accelerate the development of user-friendly Web3 infrastructure."Through the use of NFT-based tickets, attendees received proof of attendance and streamlined authentication for various conference activities. This functionality showcased the practicality of blockchain-based solutions to elevate user experience without requiring extensive technical knowledge or new tools.
"DAN24 marks our first step in bringing NFT technology to Naver Pay Wallet, following the growing trend of NFT adoption in major events, concerts, and ticketing," said Mi-young Lee, Head of Pay Infrastructure and Business at Naver Pay. "We will continue to work with leading Web3 companies to pioneer innovative digital experiences.""We're honored to provide this unique experience to DAN24 attendees," said Hojin Kim, CEO of ShardLab. "This collaboration demonstrates the technical maturity and practical potential that Web3 holds, redefining what is possible to achieve widespread adoption in the digital landscape."With 2.3 million users and $13 billion in quarterly transactions, Naver Pay offers a robust platform to scale Web3 integrations. ShardLab, an R&D partnership between Hashed and SCBX, brings blockchain expertise, enabling seamless Web3 experiences through Naver Pay’s trusted ecosystem.
The collaboration between Hashed, ShardLab, and Naver Pay is expected to expand into additional use cases, supporting the adoption of blockchain technology across industries.
About Hashed
Hashed, established in 2017, is a blockchain-focused venture capital firm that conducts extensive investment and research activities in global startups and decentralized projects pursuing protocol economy. Operating globally, Hashed maintains presence in major cities including Seoul, San Francisco, Singapore, and Bengaluru, India.
The firm has made early-stage investments in innovative blockchain startups worldwide, including Story Protocol, CryptoQuant, and dYdX. Rather than functioning as a traditional venture capital firm, Hashed operates as a 'second team' to its portfolio companies, providing hands-on business development support to help them connect with the global Web3 ecosystem and accelerate their growth.
About ShardLab
ShardLab is the innovation arm of Hashed, a leading global Web3 venture capital firm based in Asia. Under the strategic partnership between Hashed and SCBX (the mothership of Thailand's leading financial technology group and the parent company of Siam Commercial Bank (OTC:SMUUY )), ShardLab is having various innovative activities, such as Web3 R&D, venture building, and ecosystem building. The firm’s vision extends to fostering mass adoption of Web3 in Southeast Asia, making technology accessible, and empowering communities in this dynamic digital frontier.
About Naver Pay
Naver Pay is a fintech service provided by Naver Financial (Subsidiary of Naver, the largest IT and search engine service in South Korea) that allows users to make simple payments through pre-registered payment methods such as bank accounts, debit cards, or credit cards.
Naver partners with e-commerce sellers of all sizes to enable Naver Pay on their own websites, promoting it as a way to increase convenience and accessibility for users.
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This article was originally published on Chainwire
Source: Investing.com
