The involvement of NFTs in the South Korean Presidential Election was seen as a means of wooing younger voters. Candidate Yoon Suk-Yeol created NFTs with his photographs and videos in an attempt to win the election. Yoon has reportedly manufactured 4,000 tokens so far. In the last stages of his campaign, Yoon’s decision has been described as a “tactic to win younger voters.”
According to sources, Yoon has minted roughly 4,000 NFTs on the AERGO blockchain and wants to dump another 20,000. They can be purchased for 50,000 Korean won (US$40.78) on the South Korean NFT marketplace CCCV. Meanwhile, Yoon isn’t the first to use NFTs to entice young people. Lee, a left-wing Democratic Party candidate, has already airdropped his NFTs to campaign donors. Lee’s NFTs is said to have his image and a copy of his policy on display. Lee also made it possible for cryptocurrency to be used as a kind of political donation.
Both contenders have discussed lifting the country’s restriction on initial coin offerings (ICOs). The prohibition was published on the Financial Services Commission’s website in 2017, but it was never enacted into law.
Do you think launching NFT will help Yoon to woo young voters? Comment below.