South Korea’s Seongnam City Reveals Plans to Issue NFT Citizenship
While Seoul is busy building its own metaverse, its satellite city Seongnam is looking to enter Web3 as well.
South Korea's Seongnam city is going Web3 soon
According to local media reports, Seongnam, the 12th most populated city in South Korea, is planning to issue NFT citizenship by 2023. The municipal government is looking to recreate the city in the metaverse, where people with NFT citizenships can access municipal info easily.
To that end, they will construct a metaverse platform called "Metaverse Special City Seongnam", which is expected to be ready by April 2023. After proper evaluation, the virtual city should go live around May or June next year.
NFT citizenships will be issued to promote the metaverse city as well. Though not many details yet, the NFT is supposed to grant citizens access to more municipal info. As to how it works exactly, the Seongnam city administration will discuss it further in October.
Seongnam is the fourth largest city in the Gyeonggi Province, with nearly one million residents to date. Being a satellite city of Seoul and also the first planned city in Korea, it couldn't be more fitting for Seongnam to embrace Web3 now.
The first physical city to enter the metaverse is…
Guess what? It's Seoul! Just last month, the capital city of South Korea held the first test run for its virtual project "Seoul Metaverse".
During the session, 3,200 participants had a smooth interaction with each other through various games and activities in the digital realm. The platform also features a virtual counseling room where youngsters can meet and discuss their issues with mentors.
Without a doubt, South Korea is one of the early pioneers of emerging technologies. This month, the Asian country proposed a Metaverse Industry Promotion Act to incentivize businesses that switch to the virtual world. However, things are not looking that good for blockchain games, which are currently banned due to gambling concerns.