Japanese gov’t issues NFTs to reward local authorities’ work

The Japanese government has become one of the first to issue nonfungible tokens as a form of supplementary rewards to recognize the work of local authorities who have excelled at using digital technology to solve local challenges. The awards were handed out by the Cabinet Secretariat, a government agency that is headed by the nation’s Chief Cabinet Secretary Hirokazu Matsuno during the «Summer Digi Denkoshien 2022» ceremony. The event was also attended by the country’s Prime Minister Fumio Kishida, reported Coinpost. Among them was the mayor of Sakata, Yamagata Prefecture, whose administration suggested using electric vehicles for local deliveries.

The assets are non-transferable, and therefore cannot be sold on the secondary market.

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