Japan Airlines NFTs can turn you into a samurai
Air transport group Japan Airlines dips its toes into nonfungible tokens (NFTs) through a collaboration with marketing firm Hakuhodo on a project called “Kokyo NFT.”
On Feb. 5, the airline service announced that they would continue collaborating with Hakuhodo to facilitate a second round of experiments within the Kokyo NFT project, following its initial testing phase earlier this month.
The collaboration aims to tokenize local experiences and real-world assets (RWAs) into NFTs. The firms have also continued their discussions on how to build a “value creation story” that would lead inbound and domestic visitors to enjoy local experiences.
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— Sota Watanabe (@WatanabeSota) February 5, 2024
The project’s site also highlighted that they aim to help holders “develop deeper connections with local communities.” This includes being a member of a samurai family while staying at a traditional samurai mansion, immersing in samurai culture and traditions.
NFTs outperformed Ether in January
Meanwhile, NFT indexes show that the digital collectibles space outperformed the gains of ETH, the top blockchain for NFTs in terms of all-time volume.
On-chain insights platform Nansen’s NFT-500 index showed a 9.35% gain by the index from Jan. 1 to Jan. 31. The analytics platform’s Blue Chip NFT index also showed similar gains of 9.76%.
On the other hand, Ether went from $2,238 at the start of January to $2,291 at the end of the month, according to Cointelegraph’s ETH Price Index. This marks a 2.3% gain for the crypto asset throughout the entire month.
Blue chip Solana NFTs slow down
In 2023, the Solana network surpassed the Ronin blockchain in all-time NFT sales volume, taking the second stop in the top NFT blockchains by platform. This put Solana second only to Ethereum when it comes to overall NFT sales.
The network continued to compete with Ethereum and Bitcoin in NFT sales volume, fueled by Blue Chip NFT collections like the DeGods NFT project and Tensorians. However, data suggests that Blue Chip Solana NFTs have been on a slow decline since December.
Solana NFT data tracker SolanaFloor shows that its Blue Chip Solana index peaked on Dec. 26 and has been on a steady decline since. Meanwhile, the total floor value and volume of blue chip NFTs on Solana showed a similar downward trend.
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Solana NFTs aren’t alone in slowing their roll. As previously covered by Cointelegraph, Bitcoin Ordinals fell in terms of sales volume in January 2024. 30-day Ordinals sales dropped from $868 million in December to $335 million in January. NFT book author Anndy Lian believes that the oversaturation of the NFT market may have caused the decline.