Japanese Government Donates NFTs

For the first time, the Japanese government presented NFT awards to the winners of a nationwide digitalization-related competition. 

According to Japanese media outlet CoinPost, local governments that won the Digi Takoshien Summer 2022 competition received digital certificates in the form of NFTs as rewards. The essence of the competition is the revival of local communities using digital technologies. 

Seven mayors received awards for their contribution to the digitalization of the region and the country. For example, the mayor of Sakata in Yamagata Prefecture has sought to use electric vehicles for local transportation, Maebashi in Gunma Prefecture has proposed a platform that will use mobile phone cameras to detect changes in traffic conditions in real-time.

The NFT awards were presented by the Cabinet Office Secretariat, a government agency headed by Japan’s Chief Cabinet Secretary Hirokazu Matsuno. The award ceremony was also attended by Prime Minister Kishida. This is the first time that a government body has used NFT.

Prime Minister Kishida has spoken out more than once about the NFT space. He is quite confident that metaverse and NFT-related innovations can drive Web3 -based growth in Japan.

Digital certificates were issued on the Ethereum blockchain, but they used the Proof of Attendance Protocol (POAP) technology, which is usually used for exclusive events. In other words, these NFTs cannot be traded on secondary markets.

Large technology companies such as IndieSquare, the leading domestic crypto exchange BitFlyer Holdings, TREE Digital Studio, and Tomonari Kougei took part in the development of the tokens.

Earlier this year, the youth wing of the ruling Liberal Democratic Party (LDP) launched the NFT. However, the latest initiative is the first step on the part of the government itself.

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