Japanese Mayors were awarded NFTs for excellence in the use of digital technology

The Japanese government is distributing non-fungible tokens (NFTs) as a supplementary award to local governments that have excelled in using digital technology to solve local issues as well as promote the digital economy.

A total of seven mayors received NFT awards for various initiatives.

According to the CoinPost report, the tokens, which were distributed at the “Summer Digi Denkoshien 2022” ceremony, essentially represent “digital certificates” of achievement. The award ceremony was presided over by Japan’s Chief Cabinet Secretary Hirokazu Matsuno. The Prime Minister of the country, Fumio Kishida, was also present.

The tokens, for one, were issued on the Ethereum blockchain network but leveraged Proof of Attendance Protocol (POAP) technology. POAP-type NFTs are mainly used in exclusive events and are usually minted on the xDai chain. Secretariat NFTs cannot be traded on secondary markets.

Tokyo-based crypto firm bitFlyer Holdings provided technical support for the offering, in addition to IndieSquare, TREE Digital Studio and Tomonari Kougei.

Japan Pushes for NFT and Web 3

In the past year, several technology players in the country have started to embrace the concept of NFTs and Web 3. One of the first Japanese banks to enter the NFT space was MUFG. SBI Group has also launched a dedicated subsidiary called – SBINFTs.

The country’s leading social media, Line, has also created an NFT market called Line NFT. Thanks to the much-needed boost from the Prime Minister himself, the NFT market in the “land of the rising sun” has soared.

Kishida said earlier that the government is seeking to bring about institutional reforms to create an environment that “accommodates the creation of Web 3-related infrastructure.” He also affirmed that NFTs and metasystem-related innovations will fuel Web 3-based development for the country.

The remark follows the creation of the Digital Japan 2022 white paper, presented by the ruling Liberal Democratic Party’s Digital Society Promotion unit earlier this year, which touted the NFT sector as the growth engine of the Web 3 movement.

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