South Korean Presidential Candidate, Lee Jae-myung to Use NFTs to Raise Campaign Funds

South Korean presidential candidate, Lee Jae-myung is tapping into NFTs to boost funds for his marketing campaign for the upcoming election. The ruling Democratic Occasion of Korea (DPK)—Lee Jae-myung’s get together—will problem NFTs that includes his pictures and coverage in return for cash. Presently, the get together is contemplating BTC, ETH, and three different cryptocurrencies as fee strategies. 

South Korean Presidential Candidate Lee Jae-myung
The ruling Democratic Occasion’s presidential candidate Lee Jae-myung will problem NFTs. Credit: Wikimedia Commons

Extra on Lee Jae-myung NFTs for marketing campaign funds

South Korea has laid out a number of crypto laws within the nation. Final October, the nation had introduced its plans to tax crypto buying and selling income. What’s extra, simply days again it had issued directives asking Apple and Google to block and take away all play-to-earn video games from their app shops. So, why is Lee Jae-myung now issuing NFTs?

Principally, the presidential candidate hopes to draw younger voters by his NFT transfer.

“Because the younger technology of their 20s and 30s are concerned about rising applied sciences, together with digital belongings, NFTs and the metaverse, this sort of fundraising may enchantment to them,” Kim Nam-kook, marketing campaign committee official, advised Yonhap News Agency.

On related strains, DPK lawmaker Lee Kwang-jae had introduced final week that he’ll begin accepting cryptocurrency donations this month. Moreover, he would problem NFTs as receipts for the donations, reported The Korea Times. The report added that the Nationwide Election Fee (NEC) has confirmed that NFT fundraises aren’t in violation of the Political Funds Act or the Public Official Election Act. 

As NFTs grow to be mainstream throughout the globe, their use in politics is unsurprising. US Congress candidate, Shrina Kurani has additionally launched NFTs for her federal marketing campaign. In the meantime, enterprise capitalist, Blake Masters, can also be releasing an NFT assortment to fund his US Senate marketing campaign. 

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