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

Lee Jae-myung, nominated by the ruling occasion in South Korea for the upcoming presidential elections this spring, is getting ready to boost funds in cryptocurrencies and difficulty 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 Celebration of South Korea to Acquire Crypto Funds for Presidential Bid

The Democratic Celebration of Korea, the nation’s main political power, goes to boost election funds by cryptocurrency and difficulty receipts to donors within the type of non-fungible tokens (NFTs), Korean media reported on Sunday. The cash will likely be used to finance the marketing campaign of the occasion’s presidential nominee, Lee Jae-myung.

Bitcoin (BTC), ethereum (ETH), and as much as three different cryptocurrencies at the moment are into consideration. The ultimate checklist of cash to be accepted will likely 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 characteristic pictures 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. Marketing campaign official Kim Nam-kook elaborated:

Because the younger era of their 20s and 30s are thinking about rising applied sciences, together with digital belongings, NFTs and the metaverse, any such fundraising may enchantment to them.

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The stories word that the Democratic Celebration has been exploring methods to just accept cryptocurrency donations and difficulty NFT receipts to spotlight its wager on expertise and appeal to millennial voters. Lee Kwang-jae, who heads the committee on future financial system within the marketing campaign crew, stated that the DP was informed by the Nationwide Election Fee that it doesn’t violate any election legal guidelines by accepting crypto.

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On Thursday, the lawmaker introduced he’ll himself begin to take digital cash from supporters. “With politics, we should always break the rules and foster new industries equivalent to metaverse and NFT and provides hope to the younger folks,” Lee Kwang-jae insisted.

Celebration officers declare that if Lee Jae-myung’s initiative is profitable, he’ll turn into the world’s first candidate to difficulty 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 will likely be transformed into Korean gained by a crypto alternate after which deposited into the marketing campaign’s account.

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

Do you count on extra Korean politicians to start out accepting cryptocurrency donations? Inform us within the feedback part under.

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Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Japanese Europe who likes Hitchens’s quote: “Being a author is what I’m, quite than what I do.” In addition to crypto, blockchain and fintech, worldwide politics and economics are two different sources of inspiration.

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