South Korean Presidential Candidate Plans to Fund Campaign, using NFT’s

Lee Jae-myung is a South Korean, running for president, and is planning on funding his campaign through the sale of NFT’s. The strategy is inherently modern aimed toward young voters.

"As the young generation in their 20s and 30s are interested in emerging technologies, including virtual assets, NFTs and the metaverse, this type of fundraising could appeal to them," Kim Nam-kook, a Lee campaign official, told Yonhap News.

Lee’s party (The Democratic Party) will reward those who donate to his campaign with NFT’s that include images of Lee, as well as election pledges, made by the candidate. The election is planned to take place on March 9th.

"It is high time that we undertake innovative experiments to enhance our understanding of these future technologies and change perceptions of digital currencies and NFTs," Lee added.

NFT’s In American Politics

In October of last year, former NYC mayoral candidate Andrew Yang released a NFT with Bankless. Speaking on the Bankless podcast Yang said the proceeds would go to his new Forward Party.

In Arizona, Senate hopeful Blake Masters is offering donors "Zero to One" NFTs based on the cover of his upcoming novel, Zero to One.

"This is the first NFT we're issuing to help share the book's cool history, and to help raise money for my U.S. Senate campaign, so we can help use 'Zero to One' thinking to save America from the brink of destruction," he said.

As the youth of the world come into voting age, politicians will have to adapt to new marketing strategies. Whether it be sensational social media platforms such as Tik Tok, or viral media campaigns through the sale of a digital asset (NFT).