Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
How the UK’s rollback of banking regulations could risk another financial crisis 
Investors Brace for Market Moves as Trump Begins Second Term 
Investors value green labels — but not always for the right reasons 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
SoftBank Eyes Up to $25B OpenAI Investment Amid AI Boom 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Insignia Financial Shares Hit 3-Year High Amid Bain and CC Capital Bidding War 
Elliott Investment Management Takes Significant Stake in BP to Push for Value Growth 
Ethereum Ignites: Fusaka Upgrade Unleashes 9× Scalability as ETH Holds Strong Above $3,100 – Bull Run Reloaded 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Why your retirement fund might soon include cryptocurrency 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
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.
