CryptoBlog n.806

The world at large is gradually adopting NFT and blockchain technology - some faster than others. The country of Japan is looking to be a leader in the rapidly evolving web3 space, announcing these intentions at a recent meeting. At a policy speech given this past Monday, Japan’s PM Fumio Kishida announced the country’s plans to “promote efforts to expand the use of web3 services that utilize the metaverse and NFTs”. This falls in line with the PM’s recent push for the growth of the Japanese digital market, especially their recent opening of a web3 focused policy office. Questions remain as to what exactly this push into web3 means, but we can gather some insight by looking into Japan’s own NFT white paper. Originally released in April, the whitepaper outlines their general strategy while approaching this new space. It mainly emphasizes the potential benefit NFTs can bring to Japan’s massive ecosystem of iconic IP, as well as lays out concerns and guidelines to be aware of in the space.