The use of NFTs in the South Korean presidential candidate’s bid has been confirmed by the Democratic Party of Korea, particularly in Lee Jae-Myung’s campaign.
Lee is one of the aspiring leaders of the East Asian country, and his presidential campaign is a political initiative featuring cryptocurrencies and NFTs or non-fungible tokens.
We find this politics and cryptocurrency-related news quite interesting and worth sharing with our readers. We think it demonstrates and confirms the versatility and comprehensiveness of cryptocurrencies and virtual assets, including the NFTs in the South Korean presidential candidate’s bid.
Moreover, we believe this report shows that cryptocurrencies and NFTs are increasingly becoming useful in various fields besides the world of finance. According to the news posted online by cryptocurrency news source Bitcoin News, the ruling Democratic Party of Korea’s presidential nominee is Lee Jae-Myung.
This political party’s campaign committee disclosed that Bitcoin, Ethereum, and up to three other crypto-assets are presently under consideration and included in the final list of virtual coins to be accepted. The finalized list will be announced in the middle of this month.
With the use of NFTs in the South Korean presidential candidate’s bid, the Democratic Party of Korea’s officials cited that Lee Jae-Myung would possibly become the world’s first-ever political candidate to issue these digital assets to finance his presidential campaign.
The data units stored on a blockchain represent political memorabilia and can possibly hold future value and serve as investments for the donors. Moreover, the NFTs in the South Korean presidential candidate’s bid will feature images of Lee Jae-Myung and his presidential election pledges.
The Democratic Party of Korea affirmed that it had been exploring methods to accept cryptocurrency donations and issue NFT receipts, highlighting its bet on technology. It also entices millennial voters in the forthcoming South Korean presidential elections.
Kim Nam-kook is a presidential campaign official. He pointed out that South Korea’s young generation is interested in emerging technologies.
Kim remarked that the use of NFTs in the South Korean presidential candidate’s bid, as well as cryptocurrencies and the metaverse, are the fundraising types that could appeal to these young voters.
The donated digital money will get converted into South Korean won via a cryptocurrency exchange. Then, it will get deposited into Lee Jae-Myung’s presidential campaign account.
Furthermore, the money collected from the cryptocurrencies and NFTs used in the South Korean presidential candidate’s bid will fund the campaign. We think the presidential campaign strategy of South Korean presidential nominee Lee Jae-Myung can be an effective effort.
After all, we are well aware that the young generation of voters in South Korea is digitally savvy. They are engaged in contemporary investment assets and emerging financial technologies like cryptocurrencies, non-fungible tokens or NFTs, decentralized finance, and so forth.
Therefore, we believe that the use of NFTs in the South Korean presidential candidate’s bid can help in gathering the needed funds to finance Mr. Lee’s campaign. We also think this endeavor exhibits how truly versatile crypto-assets and other virtual assets like NFTs have become.
As we move towards a fully digitalized financial system worldwide, we think Mr. Lee’s presidential campaign is the beginning. We believe the use of NFTs in the South Korean presidential candidate’s bid will be applied by presidential aspirants in other countries as well in the coming years.