An NFT that lets you name the Shibusawa No. 5 railroad crossing near 394 Shobu, Hadano City, Kanagawa Prefecture, will be auctioned on HEXA, one of Japan's largest NFT marketplaces, from April 24 (Wed), 14:00 to May 8 (Wed), 21:59.
HEXA, one of Japan's largest NFT marketplaces, will hold an auction of the world's first* NFT of the naming rights to a real railroad crossing, offered by Odakyu Electric Railway Co., Ltd. Through this NFT auction, Odakyu Electric Railway aims to make the crossing, as one whose naming rights have been turned into an NFT, a destination for outings and to change the image of railroad crossings.
The railroad crossing naming rights NFT auction runs from April 24 (Wed), 14:00 to May 8 (Wed), 21:59. The crossing that can be named is the Shibusawa No. 5 railroad crossing near 394 Shobu, Hadano City, Kanagawa Prefecture. The crossing name chosen by the winning bidder will actually be put up on a sign, where visitors will see it. The auction is open to corporations as well as individuals.
*An internet survey of NFT issuance cases conducted by Media Equity Inc. on April 19, 2024, covering NFT marketplaces around the world and multiple blockchains, confirmed that this is the first case in the world of the naming rights to a real railroad crossing being sold as an NFT.
About the crossing that can be named
The crossing is designated the Shibusawa No. 5 railroad crossing, and its address is near 394 Shobu, Hadano City, Kanagawa Prefecture. It is located on a scenic stretch that runs along a river between Shibusawa Station and Shin-Matsuda Station. Because of its facilities, no cars pass through it, and when you cross from the side where the NFT image was taken, it leads to a small path where you can take a leisurely walk with the Odakyu Line running along an embankment on your left and a stream on your right.
A sign with the crossing name chosen by the winning bidder will be installed at the crossing
At one spot on the crossing guard fence on the inbound-track side of the Shibusawa No. 5 railroad crossing, toward Shinjuku, a plate bearing the crossing nickname chosen by the winning bidder is planned to be installed, of the same kind as the official name plates currently used at Odakyu Line crossings. As "the first railroad crossing in Japan to offer naming rights," Odakyu aims, together with the winning bidder, to make the crossing a destination for outings and change the image of railroad crossings.
A similar crossing name plate used during the trial (no QR code will be installed this time)
Odakyu Electric Railway says it will use the revenue from the naming rights for purposes such as maintaining crossing safety equipment, and that it also aims to raise interest in crossing equipment and improve safety in the event of trouble.
Benefits of winning the railroad crossing naming rights NFT
The winner of this auction can give a nickname to the Shibusawa No. 5 railroad crossing, currently in operation on the Odakyu Odawara Line. A name plate bearing that name will be installed for one year, and after the installation period ends, the plate that was used will be given to the winner. Proceeds from the auction will be used for safety awareness activities and the like, contributing to communities along the line. The railroad crossing naming rights NFT can be resold (those who acquire it through resale do not get naming rights, but can keep it as proof of their support).
About the naming rights NFT auction for the railroad crossing near 394 Shobu, Hadano City, Kanagawa Prefecture
Auction period: April 24, 2024 (Wed), 14:00 – May 8 (Wed), 21:59
Starting bid: ¥1,000
Auction page: https://nft.hexanft.com/nft/issue/bYXM7GDA
Naming rights to the crossing: The naming rights to the crossing are granted once only, and only to the person who wins the primary sale auction held from April 24, 2024 (Wed), 14:00 to May 8 (Wed), 21:59. Please note that anyone who buys the NFT when the winner resells it on the secondary market, or who receives it by transfer, cannot name the crossing.
Naming the crossing: The Odakyu Electric Railway staff member in charge of railroad crossing naming rights will contact the primary auction winner at the email address used when bidding. Between May 9, 2024 (Thu) and May 16, 2024 (Thu), we will ask for the crossing name you would like and finalize it. Please note that we may ask you to change the name in cases such as a name that offends public order and morals or infringes another party's trademark, or one that could be confused with the crossing's official name.
Installation of the crossing name plate: At a later date, one nickname plate bearing the chosen crossing name will be installed at the Shibusawa No. 5 railroad crossing, at a spot on the crossing guard fence designated by Odakyu (expected to be the position marked "○○○ Railroad Crossing" in the NFT image), using the same kind of crossing name plate as the official name. The official name "Shibusawa No. 5 railroad crossing," which is registered with the Ministry of Land, Infrastructure, Transport and Tourism, will not change. The official-name crossing plate already in place will not be removed or moved either.
*To ensure safety in rail transport, the installation location, method and management will be decided by Odakyu.
*The nickname plate will be installed for one year; after the period ends, the plate bearing your chosen name will be removed from the crossing and given to the winning bidder as a gift.
*Even after the nickname plate is removed, the initiative is planned to remain listed as the "Railroad Crossing Naming Rights NFT" in a section of Odakyu's official website for several years.
Open to both individuals and corporations: The auction is open to corporations as well as individuals.
Please read the Railroad Crossing Naming Rights NFT Terms of Use carefully before bidding. By placing a bid, you are deemed to have agreed to the Railroad Crossing Naming Rights NFT Terms of Use.
About HEXA, the NFT marketplace
A Japanese NFT marketplace where you can issue, buy and sell NFTs using Japanese yen alone. You can easily buy NFTs by credit card from a PC or smartphone. No crypto or wallet is needed at all, so you can buy, sell or issue NFTs right away. If you have a HEXA Residents NFT or a LAND NFT, you can also display the NFTs you buy in the HEXA Metaverse. HEXA also offers community features such as Web3-style online salons and fan clubs, and 6blog, a service with NFTs that grant the right to read the rest of an article.
How NFT issuance works: https://hexanft.com/issuermanual/
Apply to issue NFTs here: https://nft.hexanft.com/issue