Hyundai Department Store Introduces NFT Digital Wallet... "Providing Differentiated Digital Content"

Hyundai Department Store's own character, Heundi.

[Asia Economy Reporter Lim Chun-han] Hyundai Department Store announced on the 31st that it will introduce the electronic wallet service H.NFT. Non-fungible tokens (NFTs) refer to digital content such as blockchain-based paintings, photos, and videos, each set with a unique value, making replication impossible.

H.NFT is an electronic wallet that can store and manage NFTs issued by Hyundai Department Store, and it will be embedded in the Hyundai Department Store Group's integrated membership service H.Point application (app). Any member can use it for free after updating the app and agreeing to the service terms.

Hyundai Department Store plans to use H.NFT to issue NFTs in the form of souvenirs to provide customers with opportunities to experience digital new technologies. Starting as early as next month, NFTs equipped with benefits such as product discounts, gift giveaways, and customer lounge access will be issued.

They will also introduce differentiated NFTs. They are currently promoting a plan to convert award-winning works from the recently held Hyundai Children's Drawing Contest into NFTs and provide them to the families of the winning customers via H.NFT. Customized NFTs created in collaboration with artists featuring customers' desired quotes and phrases will also be introduced.

To commemorate the introduction of the H.NFT service, all customers who start using the service by the 6th of next month will receive an exclusive NFT featuring the in-house character Hindy. Among the recipients, a total of 10,000 people will be selected by lottery to receive beverage exchange coupons, 5,000 H.Points, and tickets to cultural and artistic exhibitions.

A Hyundai Department Store official said, “We are actively adopting digital-based new technologies to provide differentiated services to customers and proactively respond to the rapidly changing market,” adding, “In the future, through collaboration among Hyundai Department Store Group affiliates, we will additionally introduce our own differentiated digital content.”