Democratic Party (DP) presidential candidate Lee Jae-myung prepares to use nonfungible tokens to raise funds for his campaign.
The party will issue NFTs to those who donate money for the campaign for the upcoming presidential elections. The NFTs will contain images of the candidate and his pledges.
In an interview with Yonhap News, campaign official Kim Nam-kook said the party is doing this to appeal to the younger generation.
“As the young generation in their 20s and 30s are interested in emerging technologies, including virtual assets, NFTs and the metaverse, this type of fundraising could appeal to them,” said Nam-kook.
The DP also points out that it is exploring new ways to utilize new technologies, including using NFTs in campaigns and accepting crypto donations.