Japan’s Casio has joined the trend of non-fungible tokens (NFTs) by launching “Virtual” G-Shock tokens based on its popular watches. The Virtual G-Shock line will be released on the Polygon blockchain protocol. Casio plans to release 3D model G-Shock NFTs later in the year but wants to first engage with fans of its iconic digital watch.
The company has sold over 130 million G-Shock watches worldwide since its debut in 1983. Before introducing the NFT watches, Casio will issue NFT “membership cards” that grant special access to limited channels. The firm will release 15,000 of these cards on September 23 and is allowing customers with Casio IDs to register their interest beforehand. Cardholders will have exclusive access to events, meetups, and co-creation projects. Casio’s CEO, Hiroshi Takahashi, aims to increase the G-Shock brand’s presence in the virtual and Web3 worlds through this project.
This move by Casio follows the growing trend of Japanese fashion, sportswear, and accessories brands embracing NFTs. Asics, Mizuno, and All Nippon Airways have already entered the NFT space, encouraged by Prime Minister Fumio Kishida’s positive stance on NFTs and Web3 as catalysts for the national economy. The top financial regulator in Japan is also considering easing tax rules for domestic corporations to prevent them from being forced out of the market.