Nishikawa Town, Yamagata Prefecture, issued its first digital resident NFT on HEXA, one of Japan's largest NFT marketplaces, in partnership with Tobu Top Tours Co., Ltd., which works with the town on its regional revitalization projects, and through it drew about 1,915 people to actually visit the town (as of the end of September 2024). As the graph below shows, the number of people from outside the town who visited with a digital resident NFT and used the hot springs has kept growing steadily. The town has succeeded in attracting visitors and is leading the way toward Regional Revitalization 2.0.
About the second Nishikawa Town, Yamagata Prefecture, digital resident NFT
To mark the 70th anniversary of becoming a town, Nishikawa Town, Yamagata Prefecture, will sell its second digital resident NFT by lottery sale from 10:00 on November 1, 2024 (Fri) to 17:00 on November 15, 2024 (Fri). Holders of the second digital resident NFT can use the coworking space at the Nishikawa Innovation Hub TRAS free of charge. The town opened the Nishikawa Innovation Hub TRAS on June 30, 2024, under the theme of "a hub for connecting and being connected," as a place where townspeople can interact with each other and with visitors from outside the town. By connecting digital residents and townspeople in real life, the town aims to expand its visitor population.
3 benefits of holding the second Nishikawa Town digital resident NFT
1. Become a digital resident (proven by NFT)
Your status as a digital resident is proven by the NFT, so you can declare on social media and elsewhere that you are a digital resident of Nishikawa Town, Yamagata Prefecture. By becoming a digital resident and supporting Nishikawa Town, helping to energize the town also helps raise the value of the digital resident NFT. Digital resident NFTs can also be resold, creating Web3-style related population.
2. Online community (the mayor takes part too)
You can join an online community that the town mayor also takes part in and deepen your connection with Nishikawa Town. The online community is planned to deliver newsletters with the latest local news, events and perks, as well as messages from the mayor. You can also take part in regional revival projects by commenting and voting on issues facing Nishikawa Town.
3. Free use of the coworking space at the Nishikawa Innovation Hub TRAS (unlimited use during the period)
To encourage you to actually visit Nishikawa Town, you can use the coworking space at the Nishikawa Innovation Hub TRAS for free as many times as you like (normally ¥1,000 (tax included)).
*Please note that the online community, perks and their details may be changed or discontinued without notice
Support the town by buying lots of the second Nishikawa Town digital resident NFT
You can make a purchase reservation for as many of the second Nishikawa Town digital resident NFTs as you like. Buying many is a way to support Nishikawa Town. By buying several and reselling them or giving them as gifts to people who don't yet know Nishikawa Town, you can help increase the number of related population.
In addition, people who hold at least a certain number as of 23:59 on December 31, 2024, will have the holder name they set at payment displayed as a supporter at the Nishikawa Town Office. Their names will also be listed on the Nishikawa Town website.
Holders of 20–49: holder name displayed in small size
Holders of 50–99: holder name displayed in medium size
Holders of 100 or more: holder name displayed in large size
Note that if applications exceed the available quantity (a ratio above 1x), the quantity you can actually buy is decided by lottery, and you may not be able to buy all of it, so you can increase the number you apply for while watching the application ratio. For example, if the ratio reaches 10x, applying for 100 would give you an allocation of about 10.
About the lottery sale of the second Nishikawa Town, Yamagata Prefecture, digital resident NFT
Sale overview
Quantity and price ¥3,000 each *One person may buy more than one
Payment currency and method Japanese yen, credit card
Sale format Lottery sale
Where to buy HEXA NFT Marketplace
Application page https://nft.hexanft.com/nftmaticmulti/70
Sale schedule
November 1, 2024 (Fri) Purchase applications open (from 10:00)
November 15, 2024 (Fri) Purchase applications close (until 17:00)
November 18, 2024 (Mon) Winners announced, purchases open
November 24, 2024 (Sun) Purchases close
November 25, 2024 (Mon) Secondary trading opens
About the first Nishikawa Town, Yamagata Prefecture, digital resident NFT
HEXA, one of Japan's largest NFT marketplaces, concluded a comprehensive partnership agreement with Nishikawa Town, Yamagata Prefecture (represented by the town mayor), and began selling the first Nishikawa Town, Yamagata Prefecture, digital resident NFT on HEXA on April 17, 2023 (Mon).
The first digital resident NFT was sold by lottery sale at ¥1,000 each, limited to 1,000, and could be bought by credit card. It is Japan's first digital resident NFT issued by an existing municipality, and anyone with a credit card and a PC or smartphone can buy it easily and safely. Digital resident NFT holders can also join an online community that the town mayor takes part in and receive perks such as free hot spring bathing.
This page explains the Nishikawa Town digital resident NFT. For how to buy a digital resident NFT and other instructions, see here.
3 benefits of holding the first Nishikawa Town digital resident NFT
1. Become a digital resident (proven by NFT)
For digital resident NFT holders, their status as a digital resident is proven by the NFT, so they can declare on social media and elsewhere that they are a digital resident of Nishikawa Town, Yamagata Prefecture. By becoming a digital resident and supporting Nishikawa Town, helping to energize the town also helps raise the value of the digital resident NFT. Digital resident NFTs can also be resold, creating Web3-style related population.
2. Online community (the mayor takes part too)
Digital resident NFT holders can join an online community that the town mayor also takes part in, getting to know other holders and deepening their connection with Nishikawa Town. The online community is planned to deliver newsletters with the latest local news, events and perks, as well as messages from the mayor. Holders can also take part in regional revival projects by commenting and voting on issues facing Nishikawa Town.
*Please note that the online community and its contents may be changed or discontinued without notice
3. Perks for digital residents, such as free hot spring bathing
To encourage you to actually visit Nishikawa Town, the following perks are provided. We hope you will come to Nishikawa Town in person and discover its charms.
[Free hot springs] Free bathing at Mizusawa Onsenkan and Oisawa Onsenkan (normally ¥350 per adult; up to 2 adults)
[Gassan natural water perk] Get a free bottle of Gassan natural water when you spend ¥1,000 or more at the roadside station (michi-no-eki) shop
*The free hot spring perk is limited to people who live outside Nishikawa Town
*Please show the proof-of-ownership screen (My Page → Owned NFTs → View) at the hot spring
*Please note that the perks and their details may be changed or discontinued without notice
A first in Japan: a municipal digital resident NFT
This is the first case in Japan of a digital resident NFT officially issued by an existing Japanese municipality. There have been earlier cases of NFTs issued by residents as a voluntary group rather than officially by a municipality, but this is the first case in Japan of a digital resident NFT issued with a Japanese municipality officially acting as the issuer under the Local Finance Act.
Sold on HEXA, one of Japan's largest NFT marketplaces
The NFT is sold on a Japan-born NFT marketplace operated by the Japanese company Media Equity Inc. It is operated under Japanese law, making it a highly reliable platform you can use with peace of mind.
Buy with Japanese yen or a credit card
Because you can buy with Japanese yen or a credit card, with no blockchain wallet or crypto needed, payment is more convenient and more people get the chance to buy. You can easily trade NFTs from a PC or smartphone.
Limited-quantity lottery sale through an INO
Through an Initial NFT Offering (INO), 1,000 NFTs will be sold by lottery at ¥1,000 each from 19:00 on April 17, 2023 (Mon) to 23:59 on April 28 (Fri). The generous application period gives you time to consider your purchase.
This first digital resident NFT is limited to 1,000 and will not be issued again. Digital resident NFTs with different designs and separate names, such as a second or third digital resident NFT, may be issued in the future.
About the INO of the first Nishikawa Town, Yamagata Prefecture, digital resident NFT
INO sale overview
Quantity and price 1,000, ¥1,000 each
Payment currency and method Japanese yen, credit card
Sale format INO (lottery sale)
Where to buy HEXA NFT Marketplace
Application page https://nft.hexanft.com/nftmaticmulti/1
NFT overview https://hexanft.com/nishikawacho/
*One person may buy more than one digital resident NFT
*This is a multi-edition NFT under the ERC1155 standard. There are no serial numbers; 1,000 identical NFTs will be issued
INO schedule
April 14, 2023 (Fri) Comprehensive partnership agreement signing ceremony
April 17, 2023 (Mon) Purchase applications open (from 19:00)
April 28, 2023 (Fri) Purchase applications close (until 23:59)
May 1, 2023 (Mon) Winners announced
May 8, 2023 (Mon) Secondary trading opens
INO results of the first digital resident NFT
The "Nishikawa Town Digital Resident NFT," the first digital resident NFT issued by a municipality in Japan, drew purchase demand for 13,440 NFTs (13.4 times) against the 1,000 on sale. Against Nishikawa Town's population of 4,732 as of April 1, 2023 (Basic Resident Register), purchase demand for the digital resident NFT reached 13,440, or 2.8 times the number of residents, and the project helped create related population for the town.
By using the HEXA NFT marketplace, municipalities can issue NFTs without holding a crypto-asset wallet or crypto-assets. This has made it possible for Japanese municipalities to officially issue NFTs under the Local Finance Act, laying the groundwork for municipalities to readily take on Web3 initiatives using NFTs.
The digital resident NFT of Nishikawa Town, Yamagata Prefecture, is an unprecedented first in Japan. We believe this success and precedent will spur new regional revitalization efforts using NFTs across Japan.
Comprehensive partnership agreement between Nishikawa Town, Yamagata Prefecture, and the HEXA NFT marketplace
The HEXA NFT marketplace will work with Nishikawa Town in areas such as planning and developing the town's digital asset NFTs, with the aim of revitalizing the region and improving services for residents. Through the sale of this digital resident NFT, HEXA aims for digital residents to become stakeholders through the NFT, sparking decentralized, self-driven activity to raise the NFT's value and leading to a sustained increase in related population. HEXA will continue to carry out initiatives, mainly through NFTs, that help create related population for Nishikawa Town. The signing ceremony for the comprehensive partnership agreement between Nishikawa Town, Yamagata Prefecture, and HEXA was held at the Nishikawa Town Office from 14:30 on April 14, 2023.
About Regional Revitalization 2.0
Regional Revitalization 2.0 is an economic policy proposed by the government to protect the regions. It uses blockchain technology, NFTs and more to reprice the diverse analog value held by regions, such as food and tourism experiences, at global prices and maximize it. A blockchain is a database system built on distributed ledger technology for managing data securely, which makes fraud and tampering difficult. An NFT is something like a special certificate that proves unique ownership of a digital asset traded on a blockchain.
About Nishikawa Town, Yamagata Prefecture
What is Nishikawa Town, Yamagata Prefecture?
Nishikawa Town, in central Yamagata Prefecture, has a population of about 5,000, with Mt. Gassan, one of the Three Mountains of Dewa, to the south and Mt. Asahi of the Asahi Mountains to the north. It is a town blessed with nature, in an area of heavy snowfall, through which flows the Sagae River, ranked Japan's clearest river, and centered on Lake Gassan, a popular tourist spot. It is also a transportation hub served by National Route 112 and the Yamagata Expressway.
Nishikawa Town official website: http://www.town.nishikawa.yamagata.jp/
Daishi Kanno, Mayor of Nishikawa Town, Yamagata Prefecture
Born in 1978 in Yoshikawa, Nishikawa Town, Yamagata Prefecture; graduated from Sagae High School
2001: Graduated from Waseda University
2001: Joined the Tohoku Local Finance Bureau
2006: Banks Division I, Supervision Bureau, Financial Services Agency
2008: Financial Supervision Division I, Tohoku Local Finance Bureau
2018: Regional Issue Resolution Support Team, Strategy Development and Management Bureau, Financial Services Agency
2019: Regional Issue Resolution Support Office, Coordination Division, Supervision Bureau, Financial Services Agency
2021: Secretariat of the Headquarters for Overcoming Population Decline and Vitalizing Local Economy, Cabinet Secretariat
2022: Secretariat of the Council for the Realization of the Vision for a Digital Garden City Nation, Cabinet Secretariat
April 2022: Mayor of Nishikawa Town, Yamagata Prefecture