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- 1 Japanese Casio became the latest megabrand to dive into the NFT platform.
- 2 It has planned the release of virtual G-shock tokens based on its popular watches.
Casio, the Japanese firm, in a press release, confirmed that it is set with the launch of the virtual release of G-Shock on the Polygon blockchain platform. It is the latest company to bring the virtual version of its popular watch G-Shock which can be used as an accessory by different avatars of the metaverse. It is in the form of an NFT with peculiarity attached to it. This virtual version will give authenticity and ownership to the user.
The company also confirms that it will release the 3D model of the virtual G-Shock later in the year. The aim is to reach out to the fans and customers of the iconic digital watch. The firm also verified that they had sold 130 Million G-Shock watches worldwide since their 1983 debut.
Details of the Virtual G-Shock Watches
Casio further clarifies that before releasing the NFT watches they will introduce the membership cards that will provide owners with special access to limited channels. The membership card allocation will start on September 23. At least 15,000 NFT membership cards will be issued. The customers with Casio IDs are invited to register their interest in claiming a card before the general release.
The cardholders are granted the benefits of special access to new events, meetups, and participation in the co-creation of the project. Hiroshi Takashi, the CEO of Casio stated that the project aims to increase the presence of the G-Shock brand in Web3 and the virtual world.
Other Japanese firms are also showing interest in the NFT market. It seems that the craze for the NFT market is normalizing in other countries but after the Japanese PM’s speech, there was a sudden increase in the curiosity of the nation’s firms in this market.
Fumion Kishida, Japanese Prime Minister said that NFT and Web3 are like the growth engines for the national economy. This results in many firms of fashion, sports, and accessories being interested in launching new NFTs.
Sportswear Titan, Asics, and Mizuno entered the field with NFT footwear based on some of the best-selling engines. The airline Nippon Airways also announced the launch of its aircraft-themed NFTs.
One of the nation’s top financial regulators said that tax rules should be eased for domestic corporations. Currently, they are restrictive which forces Japanese firms out of the domestic market.
Summary
More and more watches and other businesses are embracing the Web3 decentralized platform and NFTs to reach the maximum number of customers. They promote their brand by making short videos and storing all the information regarding their brand and manufacturing. This way they gain momentum in the digital space too. With the digital twins of the physical watches, Casio wants to expand itself in the virtual world and reach out to the fans widely.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
