The judgment political party of South Korea– The Democratic Party of Korea (DPK)– will apparently roll out non-fungible tokens for fundraising in a presidential election. The collectibles will illustrate Lee Jae-myung’s image (DPK’s candidate for president) and function as a bond permitting holders to exchange the NFTs with other individuals.
NFTs Fueling Presidential Campaign
According to a January 3 report by The Korea Times, the initiative will begin later on this month. Assuming the DPK concerns the non-fungible tokens, it will end up being the world’s first political celebration to employ digital antiques for such a cause.
“Our governmental prospect is also getting ready for fundraising utilizing NFTs,” a lawmaker member of the ruling celebration confirmed.
The DPK also emphasized that fundraising using NFTs does not break the Political Funds Act or the Public Official Election Act. Rep. Lee Kwang-jae revealed that the officials have actually completely talked about the matter with federal government institutions over the past 8 months.
“The contributions will be handled in compliance with the general public Official Election Act and the Guidelines on Management of Political Funds,” he added.
The South Korean presidential election is set for March 9, 2022, as the DPK’s prospect is the 57-year-old member of the celebration – – Lee Jae-myung. The relocation is considered to win a few of the young Koreans’ votes, specifically those in their 20s and 30s – – amongst the most active individuals in the cryptocurrency space.
Throughout a current interview, Lee Jae-myung suggested that South Korea need to lead the international trend and embrace non-fungible tokens and digital possessions at a greater level.
“If we deny what really exists, it will be similar to an isolationist diplomacy,” the governmental candidate concluded.