A City in the Metaverse? South Korea’s Seongnam Plans NFT Citizenship

A City in the Metaverse? South Korea’s Seongnam Plans NFT Citizenship

Officials in Seongnam, South Korea, have introduced plans to digitally recreate their city in the metaverse, offering residents with entry to municipal info and companies utilizing non-fungible token (NFT) identification.

The scheme marks a rising variety of tasks in South Korea aimed toward making the nation a worldwide hub for Web3 and the metaverse. Earlier this month the South Korean authorities introduced that as a part of the plan they might introduce a “Metaverse Industry Promotion Law” to assist promote the trade.

Seongnam type

On Wednesday, officers in the metropolis of Seongnam, Gyeonggi Province, introduced ahead plans to recreate the metropolis inside the metaverse. The mission known as “Metaverse Special City Seongnam,” and is scheduled to finish in the first half of 2023.

Work will start shortly on the metaverse municipality, with development set to begin as early as subsequent month.

A key element of the proposal is that denizens will be capable to entry key companies and knowledge by way of NFT citizenship. Full element on this facet of the proposal has but to be revealed, however additional perception is anticipated earlier than pixelated spades break digital soil.

Seongnam is a metropolis of 1 million individuals; a satellite tv for pc of South Korea’s capital Seoul. The capital additionally has plans to construct its personal metaverse counterpart and Seongnam has no intention of being left behind.

It has been only a few weeks since Seoul confirmed the launch of the first stage of its personal metaverse metropolis. While the plan is large in scope, it’ll start extra modestly with digital reconstructions of Seoul City Hall and the Seoul Plaza. It is hoped that the mission will go dwell as early as Nov.

While the proliferation of digital environments in South Korea presents nice enterprise alternatives, it isn’t a plan with out danger. New frontiers at all times open the door to new crimes and the potential for criminality.

Just days in the past Be[In]Crypto reported on the disturbing case of a South Korean man utilizing digital environments to contact and groom youngsters.

The particular person, who was not named, was sentenced to 4 years in jail.


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