The japanese government has distributed non-fungible tokens (nfts) to local governments in exchange for their innovative use of technology to address pressing societal issues. seven mayors were recognized for their efforts to foster the growth of the digital economy in their respective cities. the maebashi team’s idea to use smartphones’ built-in cameras to monitor traffic in real-time won them an nft prize, too.
the ethereum-based proof-of-attendance (poap) nfts were issued using the same infrastructure as the nfts distributed at the liberal democratic party youth bureau event. as a result, they cannot be transferred, these assets are not marketable in secondary transactions.
japan’s tech-friendly and forward-thinking government have legitimized cryptocurrency trading. the head of state has shown interest in nfts on multiple occasions in the past. as a result, the recent government activity might be continued as a tradition for the japanese.
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