Japanese Government Rewards Local Authorities With Non-Transferable NFTs
According to reports, the Japanese government is one of the first countries to use non-fungible tokens as a supplementary award to local authorities that excelled in a digitization competition. The awards were given to local authorities as recognition for their efforts in using digital technology to solve local challenges.
Known as the 2022 Summer Digi Denkoshien, the award ceremony was held to honor and recognize initiatives by local authorities that “utilize digital technology to solve local issues and improve their appeal.”While the tokens were issued on the Ethereum blockchain, the report, however, states the NFTs had used the Proof of Attendance Protocol technology. Such tokens are non-transferable but easy to use for commemoration and verification.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ford prepares to enter the Metaverse with virtual automobiles and NFTsRev up those engines. Ford has become the latest car manufacturer to take a piece of the Web3 pie, filing 19 trademark applications covering car-related NFTs and the efforts in the Metaverse.
Read more »
This New Display Brings Museum-Quality Framing to Your Digital Art CollectionNow you can show off your art NFTs the way they were meant to be seen.
Read more »
Sony Music files trademark application for NFT-authenticated musicSony Music has signaled intentions to make use of NFTs after filing a trademark application in the United States for recordings that would be 'authenticated by non-fungible tokens.'
Read more »
Teen Makes $700,000 Selling Action Figures of Bored Apes to Adult Children18-year-old Ricky da Luz, for instance, figured out people go absolutely hog wild over physical representations of their Bored Ape NFTs.
Read more »