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NFT: South Korea’s Seongnam city to jump into the Metaverse, to issue NFT citizenship
Seongnam is South Korea’s 12th most populated city, and it revealed its plans to jump into the metaverse and non-fungible token. It said that it would be recreating the entire city in the virtual space and issuing NFT citizenship to residents.
Officials said that it would grant NFT citizenship to give people access to the local municipal information and services. This digital token will serve as the people’s identification as well. The new project is called the “Metaverse Special City Seongnam”, and this will put the territory in the metaverse soon.
As per BeinCrypto, the cutting-edge plan by the city of Seongnam shows the growing number of projects in the country that are related to digitalization and blockchain. It was said that South Korea is actually aiming at making the nation a global hub for the metaverse and Web3.
The NFT citizenship scheme and the Metaverse scheme were unveiled on Wednesday this week. The officials of Gyeonggi Province laid out the proposition to build the city in the metaverse world. This project is expected to be completed within the first half of 2023.
This means that Seongnam will kick off the construction of the municipality on the metaverse very soon. It was mentioned that they want to start as early as next month. Then again, the city has yet to release the full details of the proposed virtual world project.
Meanwhile, Forkast reported that South Korea’s capital city of Seoul is also set to build its virtual city. It already held a test opening of its virtual presence on the metaverse last month, so it is almost halfway to completing the project.
The South Korean government said that with many companies and cities in the country getting into the Web3 and digital space, it is planning to launch the “Metaverse Industry Promotion Law.” The office said that this would also help with the promotion of digital business in the country.
Seoul is in the first phase of constructing its metaverse city, and construction began with the setting up of the Seoul Plaza and the Seoul City Hall. Since the region is wide, the virtual reconstructions may take a bit of time, but it is hoped that the Seoul Metaverse will be ready to go live as early as November.