Seoul, South, Korea, November 20th, 2024,
Chainwire
Hashed and its technology arm, ShardLab, have joined forces with Naver Pay, one of the highest-used mobile
payment services in South Korea, to integrate NFT-based ticketing
technology.
The collaboration, which debuted at Naver's annual technology
conference, DAN24, saw over 20,867 NFTs
issued and 8,849 transactions processed during the two-day event,
with a total of 6,000 attendees, making this initiative one of
South Korea's largest deployments of NFTs for real-world and
event-based utilities.
During the event, these digital assets were seamlessly
integrated into the Naver Pay wallet, enabling their use for
admission, activity verification, and prize entry. The integration
of NFTs into an existing payment system used by millions represents
a strong use case bridging Web2 and Web3 for mainstream audiences
and provides proof of concept for broader applications in events,
concerts, and large-scale activities.
The integration leverages ShardLab’s proprietary NFT technology,
including airdrop APIs and smart contracts, to provide a
user-friendly solution. Unlike traditional blockchain applications
that require separate wallets, at the event attendees could access
their NFT tickets directly within their existing Naver Pay
accounts, bringing a simplified process removing barriers to
adoption.
“This collaboration with Naver Pay signifies a step
forward in integrating Web3 technology into everyday digital
experiences,” said Simon Kim, CEO of Hashed. "With our technical
advisory and collaboration-friendly approach with Web2 companies,
we can focus and accelerate the development of user-friendly Web3
infrastructure."
Through the use of NFT-based tickets, attendees received proof
of attendance and streamlined authentication for various conference
activities. This functionality showcased the practicality of
blockchain-based solutions to elevate user experience without
requiring extensive technical knowledge or new tools.
"DAN24 marks our first step in bringing NFT technology
to Naver Pay Wallet, following the growing trend of NFT adoption in
major events, concerts, and ticketing," said Mi-young Lee, Head of
Pay Infrastructure and Business at Naver Pay. "We will continue to
work with leading Web3 companies to pioneer innovative digital
experiences."
"We're honored to provide this unique experience to
DAN24 attendees," said Hojin Kim, CEO of ShardLab. "This
collaboration demonstrates the technical maturity and practical
potential that Web3 holds, redefining what is possible to achieve
widespread adoption in the digital landscape."
With 2.3 million users and $13 billion in quarterly
transactions, Naver Pay offers a robust platform to scale Web3
integrations. ShardLab, an R&D partnership between Hashed and
SCBX, brings blockchain expertise, enabling seamless Web3
experiences through Naver Pay’s trusted ecosystem.
The collaboration between Hashed, ShardLab, and Naver Pay is
expected to expand into additional use cases, supporting the
adoption of blockchain technology across industries.
About Hashed
Hashed, established in 2017, is a blockchain-focused venture
capital firm that conducts extensive investment and research
activities in global startups and decentralized projects pursuing
protocol economy. Operating globally, Hashed maintains presence in
major cities including Seoul, San Francisco, Singapore, and
Bengaluru, India.
The firm has made early-stage investments in innovative
blockchain startups worldwide, including Story Protocol,
CryptoQuant, and dYdX. Rather than functioning as a traditional
venture capital firm, Hashed operates as a 'second team' to its
portfolio companies, providing hands-on business development
support to help them connect with the global Web3 ecosystem and
accelerate their growth.
About ShardLab
ShardLab is the innovation arm of Hashed, a leading global Web3
venture capital firm based in Asia. Under the strategic partnership
between Hashed and SCBX (the mothership of Thailand's leading
financial technology group and the parent company of Siam
Commercial Bank), ShardLab is having various innovative activities,
such as Web3 R&D, venture building, and ecosystem building. The
firm’s vision extends to fostering mass adoption of Web3 in
Southeast Asia, making technology accessible, and empowering
communities in this dynamic digital frontier.
About Naver Pay
Naver Pay is a fintech service provided by Naver Financial
(Subsidiary of Naver, the largest IT and search engine service in
South Korea) that allows users to make simple payments through
pre-registered payment methods such as bank accounts, debit cards,
or credit cards.
Naver partners with e-commerce sellers of all sizes to enable
Naver Pay on their own websites, promoting it as a way to increase
convenience and accessibility for users.
Contact
Community
Lead
Wooster
Han
Hashed
wooster@hashed.com