Stock Groups

Democratic Party of Korea to Issue NFTs to Fundraise Presidential Election in Korea -Breaking

by Mike Robinson

[ad_1]

Democratic Party of Korea Issues NFTs To Fundraise Presidential Elections In Korea

NFTs have made a big appearance on the crypto scene since 2021. They are changing politics now by raising funds for a political party to run a country.

To raise funds for the election of Lee Jae-Myung, the president of the Democratic Party of Korea (DPK), the ruling party plans to issue NFTs. DPK is the first party to issue NFTs in this way.

As of January 2022, the DPK will issue digital images of Lee’s photos and insurance policies to supporters who donate their money to his election campaign. Following the DPK, it will operate as a kind of bond so that it’s interchangeable between holders.

As the Korea Times reported, Former Minister of SMEs and Startups Park Young-sun is in charge of digitalization policies at the DPK’s election campaign committee. This also approved the party’s virtual asset-friendly policies by issuing an NFT associated with her Facebook (NASDAQ:) message written in 2018, in which she opposed the shutdown of cryptocurrency exchanges.

“My first NFT sold to an unknown buyer Jan. 1, for 2,000 Klay. This is approximately 3,000,000 won ($2,500).”
Park Youngsun shared his thoughts on Facebook.

Flipside

  • NFTs may be used by governments as a tool to influence the course of power struggles.

EMAIL NEWSLETTER

Get the other side of crypto!

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
It takes just 1 click to unsubscribe.

Continue reading on DailyCoin

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]