Japanese conglomerate Casio has made its foray into the world of non-fungible tokens (NFTs), marking another prominent name in the nation’s corporate landscape to embrace this emerging trend. Casio’s venture involves the release of “Virtual” G-Shock tokens, inspired by its immensely popular line of wristwatches.
In an official press release, Casio revealed that it was introducing the Virtual G-Shock collection on the Polygon blockchain protocol. The company further disclosed plans to unveil 3D model G-Shock NFTs later in the year, but it intends to begin by engaging with its loyal digital watch enthusiasts.
Casio boasts an impressive legacy in the watch industry, with over 130 million G-Shock timepieces sold worldwide since its debut in 1983. However, before presenting the NFT watches, Casio will issue NFT “membership cards,” granting owners exclusive access to designated “limited channels.”
The company’s announcement specified that it would release 15,000 of these NFT “cards” starting September 23rd. Existing Casio ID holders have been given the opportunity to express their interest in securing a card before the general release.
Holders of these NFT “cards” will gain privileged access to a range of upcoming events, gatherings, and opportunities to participate in collaborative projects.
According to Japan’s CoinPost, Casio’s CEO, Hiroshi Takahashi, expressed the project’s broader objective: “To enhance the presence of the G-Shock brand in the virtual and Web3 realms.”
Japanese Corporations Pioneering NFT Adoption
Japanese fashion, sportswear, and accessories brands are continuing their rapid adoption of NFT-based initiatives. While the NFT fervor may have subsided somewhat in other global markets, Japanese firms have been encouraged by the endorsements of Prime Minister Fumio Kishida, who has repeatedly highlighted the potential of NFTs and Web3 technologies as engines for national economic growth.
Prominent sportswear giants Asics and Mizuno have already entered the NFT arena, leveraging NFT technology to create digital collectibles inspired by their best-selling product lines. This trend extends beyond sportswear, as evidenced by All Nippon Airways’ announcement in May of its own aircraft-themed NFTs, as reported by Impress Watch.
In a significant development, Japan’s top financial regulator has recently expressed readiness to propose adjustments to tax rules for domestic corporations, which have been criticized as overly restrictive. Critics argue that these tax rules have pushed Japanese companies out of the domestic market, further fueling the nation’s embrace of NFTs and blockchain technologies.
