South Korea's oldest university backed by Samsung, Sungkyunkwan University, will become the country's first educational institution to award three students who won in-school competitions with certificates in the form of a non-fungible token (NFT).

As per Yonhap News Agency, Moon Kyung-won, a pharmacy major, will be one of several students who will get the NFT-based certificate. Although the NFTs — according to the university — can be used as official proof of graduation, it remains unclear on what blockchain network the tokens were minted or if they are compatible with other networks.

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Founded in 1398 and located in central Seoul, the university got support from Samsung, Hyundai, and government agencies. According to reports, other Korean universities such as Soongsil and Chung-Ang University recently also partnered with blockchain companies for developing NFTs and metaverse-related products for their graduation services.