South Korea’s Presidential Nominee to Raise Campaign Funds by Using NFT

Must read

Revolut Pulls the Plug on Crypto in US, Citing Regulatory Environment

Revolut, a London-based neobank, plans to wrap up its crypto buying and selling providing to customers in the United States by October 3, CoinDesk reported as...

USD/CAD Fluctuates Above Level 1.2700 as Buyers Recoup To Resume Uptrend

USD/CAD Long-Term Analysis: BearishUSD/CAD is in a downtrend as consumers recoup to renew uptrend. The foreign money pair has confronted two rejections because it...

Markets Find Buyers at a Trend Line

Gold markets have been all over throughout buying and selling on Thursday, initially breaking by way of a serious uptrend line, solely to show...

Bottlepay Gets FCA Approval as Crypto Business

The United Kingdom’s Financial Conduct Authority (FCA) is slowly approving the registration of crypto corporations one by one: the newest one being NYDIG subsidiary...

The marketing campaign workplace of Lee Jae-myung, a South Korean presidential nominee of the ruling Democratic Party of Korea, has introduced the plans to lift funds via a blockchain-based digital platform with plans to concern a Non-Fungible Token (NFT) to donors afterwards.

As reported by the Yonhap News Agency, the transfer is focused at younger millennials, particularly these tilted in direction of cryptocurrencies.

Per the reviews, the ruling Democratic Party’s marketing campaign committee for Jae-myung mentioned it expects NFTs to function a brand new medium for messages to voters and produce political memorabilia to a brand new technology of digital natives. The transfer to concern the NFTs to voters will cap the occasion’s efforts to just accept cryptocurrency donations and show to voters that it believes in the way forward for the expertise.

“As the young generation in their 20s and 30s are interested in emerging technologies, including virtual assets, NFTs and the metaverse, this type of fundraising could appeal to them,” Kim Nam-kook, a marketing campaign committee official, instructed Yonhap News.

The proposed NFTs are billed to have inherent monetary worth over time, serving as one other issue that may encourage voters into benefiting from the chance to donate to the marketing campaign. Beyond Jae-myung, different South Korean politicians have additionally expressed willingness to just accept crypto donations. One of those contains Rep member Lee Kwang-jae, who mentioned his marketing campaign workplace is all geared to start receiving crypto donations by mid-January. 

“It is high time that we undertake innovative experiments to enhance our understanding of these future technologies and change perceptions of digital currencies and NFTs,” mentioned Lee.

South Korea has seen development of digital currencies over the previous few years, which appears to have been considerably stumped by rules. Unregistered exchanges are now not working in South Korea after regulators declared these unable to ink partnership with a neighborhood financial institution unfit to supply crypto providers within the nation. 

Beyond native exchanges, outstanding buying and selling platforms reminiscent of Huobi and OKEx have additionally moved their companies away from South Korea on regulatory grounds.

Image supply:

More articles


Please enter your comment!
Please enter your name here

Latest article

Fireblocks Introduces ‘Off Exchange’ to Address Exchange Counterparty Risk, Integrates with Deribit

On November 28, 2023, Fireblocks, an modern digital asset operations platform, introduced the introduction of 'Off Exchange', a first-of-its-kind resolution aiming to revolutionize the...

Our knowledge reveals merchants at the moment are net-long USD/CAD for the primary time since Sep 29, 2023 when USD/CAD traded close to 1.36.

Number of merchants net-short has decreased by 19.21% from final week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUSD/CADBEARISH51.44%48.56%5.67% Daily46.95% Weekly-10.42% Daily-19.21% Weekly-2.80% Daily5.15% Weekly of...

Dash 2 Trade (D2T/USD) Maintains Stability at $0.0043, Positioning for Potential Bullish Price Movement

Amidst the noticed volatility within the Dash 2 Trade market, as mirrored within the higher and decrease shadows of candlesticks since November 23, a...