South Korean Presidential Candidate Announces Fundraising Based on Non-fungible NFT Tokens
Lee Jae Myung, the ruling Democratic Party’s candidate for the 2022 presidential election, will provide NFTs to his campaign sponsors, according to the Korea Times. The news comes despite previously voiced concerns that such fundraising could violate the Political Foundations Law or the Law on the Election of Civil Servants.
“Donors will definitely not buy NFTs. They will receive an NFT, including a photo of Lee and a list of his politicians, as a memento, ”the message said.
The move is part of Lee’s wider outreach campaign among young voters. The initiative includes negotiations to support digital assets as well as promoting NFT in games. Lee’s campaign calls it the world’s first use of NFTs to fund national presidential campaigns.
While NFT Lee’s fundraiser may be the first of its kind, the crypto industry has been playing an increasing role in campaign donations lately. In the United States, former First Lady Melania Trump recently launched the NFT platform. The first proposal was a symbolic watercolor depicting the eyes of former President Donald Trump.