Japanese Government Rewards Local Authorities with NFTs
The government awarded seven city mayors with NFT rewards for using technology to solve local problems.
Seven Mayors Given NFT Awards
Japan has made history as one of the first governments to give NFTs to local officials as supplementary rewards. These officials were said to have been remarkable in using digital technology to solve challenges in their territories. The award was given out during the Summer Digi Denkoshien 2022 ceremony by a government agency, Cabinet Secretariat, headed by Hirokazu Matsuno, the Chief Cabinet Secretary.
In attendance was the Prime Minister, Fumio Kishida. In addition, the award was given to seven mayors, including the mayor of Sakata, Yamagata Prefecture, whose administration brought the use of electric vehicles for local deliveries. Another awardee was Maebashi in Gunma Prefecture, whose administration introduced a platform that uses smartphone cameras to track changes in real-time traffic conditions.
The Ethereum-based NFTs use proof-of-attendance (POAP), are non-transferable, and cannot be sold in a secondary market. The NFT rewards were given through Hazama Base; the same platform Liberal Democratic Party Youth Bureau used to distribute NFTs at an event.
Japan And Crypto Innovation
The country continues its drive Innovation and technology development, and crypto is part of the financial services the government is regulating as a trading asset. Initially, the Prime Minister mentioned many NFT uses, and this reward scheme is part of the strategy.
NFTs were popular during the peak of the bull run last year. However, their values nose-dived with the crypto meltdown. Nonetheless, this initiative by the Japanese government will strengthen the resolve of companies and citizens to embrace the new technology.
In other news, Tamadoge, an NFT and metaverse-based platform has widely adopted its tokens. However, the platform has less than 30% of its token, with $13.7 million from token presale.