Japan sees the future in NFT and metaverse

A future 3.0 – Japanese Prime Minister Fumio Kishida confirms the government’s position in favor of web3. It specifically supports projects powered by non-fungible tokens (NFT) and metaverses.

He is leading the charge in favor of web3. On October 3, during his general policy speech to the National Diet, which is the Japanese Parliament, the Prime Minister, Fumio Kishidaannounced that his government planned to increase investments in web services3and particularly in those related to NFT and to metaverse.

Source : Youtube

From 2021, when he took office as head of government, Fumio Kishida considered web3 as one of the pillars to breathe new life into the Japanese economy. His recent speech before the National Diet thus confirms his administration’s desire to write thefuture of the country by making use of digital technologiesand via support for web3 players.

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Web3: government initiatives are going crescendo

In April of this year, the Japanese Prime Minister’s Liberal Party issued a ” NFT White Paper “. The document stresses the importance of the country’s wealth in terms of intellectual property, and more particularly in the fields of animation and games.

The white paper presents Japan’s strategy for web3. It also contains the Liberal Party’s recommendations to protect users, and to put in place a national strategy for the sector.

Three months later, in July, the web3 related departments were integrated into the Ministry of Economy, Industry and Trade. This integration took place following the launch of the Web3 Policy Advocacy Office. It is an initiative of the administration of Fumio Kishida and the ministry.

The following month, in September, the Japanese government issued NFTs for reward the work of local authorities who are using digital technology to address challenges in their respective jurisdictions. The Prime Minister had attended the award ceremony for seven mayors, during the ceremony “ Summer Digi Denkoshien 2022 “.

Thanks to its dynamism in the field of entertainment which is coupled with the support of its government, Japan would therefore be well on its way to becoming a fertile land to the emergence and growth of various projects in the web3 and in the metaverses. Initiatives, like those of the University of Tokyo which offers distance education in and about metaversesshould thus multiply in the country.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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