Fumio Kishida, the Prime Minister of Japan, has confirmed his support for the nonfungible token (NFT) and decentralized autonomous organization (DAO) markets development.
It has been reported that the state official put a spotlight on the blockchain sector during a meeting with Japan’s House of Representatives. His important statements come as the Asian Web3 sector is undoubtedly leading the way on a global scale.
However, on February 1, the NFT market came to the attention of Japan’s House of Representatives. He said that blockchain tech might innovate Japan’s private and public sectors. Kishida even mentioned that the Web3 world might lead to a ‘Cool Japan!’
“If you consider DAOs, people who are interested in the same social issues can form a new community. NFTs can also be used to diversify the income of creators and maintain highly loyal fans.”
Japan might be releasing a digital version of its national currency, the Yen. Back in November 2022, the Central Bank revealed it might begin a pilot program for the new cryptocurrency starting this spring.
Thus, Kishida’s cabinet supported NFT creation and airdrops to regional authorities who use digital tech solutions. As the NFT market is getting back on track after a bear market, Asia is undoubtedly leading the path toward innovation.
Source: NFT Evening