The said man is Lee Jae-Myung, the presidential candidate of the Democratic Party of Korea, which is also the ruling party. According to the Democratic Party of Korea, Lee Jae-Myung’s presidential bid will be financed in an innovative way which, when executed, will get to be the first time ever a Presidential candidate will offer NFTs in exchange for funds needed to bankroll the election campaign process.
Also read: Samsung (KS:005930) Announces Plan to Support NFTs Through TV Screen-based NFT
How Do They Plan to Go About This?
According to the Democratic Party of Korea, crypto funds will be collected from donors who will get NFTs in exchange for their donations. In addition, the NFTs offered in exchange for the crypto funds will have photos of the party’s presidential nominee, which has the prospects of having a good return on investment for donors in the future.
In the words of Kim Nam-kook, an election campaign official of the party,
Lee’s financing mechanism for the South Korean Presidential Election coming up in March this year is commendable. It shows that the ruling party’s presidential nominee is aware of how tech-savvy the young population in South Korea and leveraging on it is such a brilliant idea.
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Source: Cryptocurrency - investing.com
