Monday, January 17, 2022

Presidential Candidate in South Korea to Raise Funds in Cryptocurrency, Issue NFTs   – Bitcoin News

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Lee Jae-myung, nominated by the ruling get together in South Korea for the upcoming presidential elections this spring, is getting ready to increase funds in cryptocurrencies and concern non-fungible tokens for supporters. His marketing campaign hopes that the initiative will woo younger and tech-savvy Korean voters whose curiosity in digital belongings is rising.

Ruling Party of South Korea to Collect Crypto Funds for Presidential Bid

The Democratic Party of Korea, the nation’s main political power, goes to increase election funds via cryptocurrency and concern receipts to donors in the type of non-fungible tokens (NFTs), Korean media reported on Sunday. The cash might be used to finance the marketing campaign of the get together’s presidential nominee, Lee Jae-myung.

Bitcoin (BTC), ethereum (ETH), and up to three different cryptocurrencies at the moment are into consideration. The last checklist of cash to be accepted might be introduced in mid-January, the committee managing Lee’s run unveiled, quoted by the Korean Herald and the Yonhap information company.

The NFTs will function images of the candidate and his election pledges to those that donate to the fundraising marketing campaign for the presidential vote on March 9. The tokens are anticipated to function a brand new medium for communication with youthful voters, particularly the era of digital natives. Campaign official Kim Nam-kook elaborated:

As the younger era in their 20s and 30s have an interest in rising applied sciences, together with digital belongings, NFTs and the metaverse, this kind of fundraising may attraction to them.

The experiences observe that the Democratic Party has been exploring methods to settle for cryptocurrency donations and concern NFT receipts to spotlight its guess on know-how and appeal to millennial voters. Lee Kwang-jae, who heads the committee on future financial system in the marketing campaign workforce, mentioned that the DP was informed by the National Election Commission that it doesn’t violate any election legal guidelines by accepting crypto.

On Thursday, the lawmaker introduced he’ll himself begin to take digital cash from supporters. “With politics, we should break the regulations and foster new industries such as metaverse and NFT and give hope to the young people,” Lee Kwang-jae insisted.

Party officers declare that if Lee Jae-myung’s initiative is profitable, he’ll change into the world’s first candidate to concern NFTs as a part of efforts to finance a presidential bid. The non-fungible tokens, representing political memorabilia, may additionally maintain future worth and function an funding for the donors. The donated digital cash might be transformed into Korean received via a crypto alternate after which deposited into the marketing campaign’s account.

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marketing campaign, committee, Crypto, Crypto Donations, Cryptocurrencies, Cryptocurrency, democratic get together, Donation, donations, Election, fundraising, Funds, korea, korean, nft, NFTs, Non-fungible tokens, get together, presidential marketing campaign, presidential election, presidential nominee, South Korea, south korean, Tokens

Do you count on extra Korean politicians to begin accepting cryptocurrency donations? Tell us in the feedback part under.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, worldwide politics and economics are two different sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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