Japanese Government Issues NFTs

J

apan makes history as one of the first governments to give non-fungible tokens (NFTs) to seven mayors as supplementary rewards. These officials were said to have been remarkable in using digital technology to solve challenges in their territories.

The Prime Minister, Fumio Kishida, attended the award ceremony. Seven mayors were given the award, including the mayor of Sakata whose administration spearheaded the use of electric vehicles for local deliveries.

The NFTs based on Ethereum employ proof-of-attendance (POAP), are non-transferable, and cannot be sold in a secondary market. The NFT bonuses were provided by Hazama Base, which is the same platform used by the Liberal Democratic Party Youth Bureau to distribute NFTs at an event. 

The government is continuing its mission to promote innovation and technology development, and this reward scheme is part of the strategy.

Jonathan

An editor at Coincrop

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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.