Yamakoshi, a remote village in Japan's Niigata mountains, has enticed 1,700 'digital citizens' by selling non-fungible tokens (NFTs) to support its aging population. The Neo-Yamakoshi Village initiative, overseen by locals, oversees the Nishikigoi NFT collection, named after the colorful koi carp. These NFTs serve as identification for digital citizens and governance tokens for participating in the village's DAO-managed voting. The project has raised over $423,000 through Nishikigoi NFT sales, funding community activities like a sports day for local children. While physical residents receive tokens for free, the digital community must purchase them. Despite challenges in explaining the technology to older adults and low voter turnout, the project received funding to explore Web3 tools. Although global NFT trading volumes have declined, there is potential for practical NFTs and collectibles in Japan, blending playful applications with social impact. Read more AI-generated news on: https://app.chaingpt.org/news
Innovative NFT Project in Japanese Village Attracts Digital Citizens
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