Indian Railways to issue NFT tickets on Polygon for rare festival
This article has been updated to include interview comments from a Polygon Labs spokesperson.
Indian Railways will issue non-fungible token (NFT)-based train tickets to all passengers traveling to MahaKumbh Mela, a Hindu festival and pilgrimage held once every 144 years.
On Jan. 13, blockchain firm Chaincode Consulting announced a partnership with the Indian Railway Catering and Tourism Corporation (IRCTC) to digitize the spiritual journey of millions of travelers heading to the major pilgrimage in India.
The NFTs will be minted over the Polygon blockchain and made available via the real-world assets (RWAs) and traceability platform NFTtrace.
A dedicated portal to manage NFT tickets issued by the Indian Railways. Source: NFTtrace
Indian Railways to issue NFT tickets on Polygon
The Polygon blockchain was chosen for the initiative due to its faster throughput and low gas fees, allowing for “scalability and environmental sustainability,” the announcement shared with Cointelegraph read.
Speaking about introducing blockchain technology to India’s cultural event, Alok Gupta, CEO of Chaincode Consulting, said:
“By partnering with IRCTC and leveraging the Polygon blockchain, we are enabling a digital-first experience that complements the spiritual and traditional significance of the Mahakumbh while introducing a new level of engagement through NFTs.”
About 1.2 million train tickets are booked on the IRCTC website daily. The NFT-based engagement drive aims to attract participants globally.
Speaking to Cointelegraph, Aishwary Gupta, global head of payment and fintech and ecosystem business development head for India at Polygon Labs, highlighted the importance of public blockchains in eradicating middlemen.
Gupta said that India’s state and central governments have used the Polygon blockchain several times previously, adding:
”With its low cost and high throughput, we are sure that the NFTs being issued around Maha Kumbh Mela would be yet another great success.”
Kumbh Mela, a related festival held every 12 years, is on UNESCO’s list of the Intangible Cultural Heritage of Humanity and has been attended by prominent celebrities, including actor Richard Gere, movie director David Lynch and Tibetan Buddhist leader the Dalai Lama.
India’s inclination toward NFT use cases
“These tickets are not merely digital souvenirs; they are a celebration of the rich cultural tapestry of (the Indian cities of) Lucknow and Delhi,” the IRCTC stated during the Holi campaign.
The personalized NFTs issued by Indian Railways can be verified on the blockchain by authorities and the public. The company previously maintained the records of train ticket purchases on the Hyperledger blockchain and employed smart contracts to govern the traceability process.
