South Korean Presidential Candidate Accepts Bitcoin Donations

The Democratic Party of Korea is looking to open its doors in the crypto space by accepting Bitcoin donations and supporting the NFT.

Specifically, the presidential campaign of South Korean politician Lee Jae-Myung will accept Bitcoin and Ethereum and 3 other cryptocurrencies.

According to some domestic sources, Jae-Myung announced his intention to run for President in July 7 and he became the candidate of the Democratic Party of Korea on October 2021, 10.
In a recent statement, Jae-Myung said that he hopes to attract the attention of young voters who have shown an interest in cryptocurrencies.

His campaign sponsors will all receive NFTs when they raise money in cryptocurrencies like Bitcoin and Ethereum.

In which each NFT will be his avatar. The NFTs will be emailed to donors and the donated cryptocurrency will be converted to cash using a centralized exchange.

But it is not clear which blockchain these NFTs are built on.

Representative Lee Kwang-Jae from the campaign committee said, "Lee Jae-Myung will be the first politician in the world to issue NFT to fund a presidential campaign."

In recent years, interest in cryptocurrencies has grown tremendously in South Korea. According to a 2021 survey, up to 40,4% of the 1885 workers interviewed said that they have invested in cryptocurrencies.

South Korean workers aged 20-39 make up 86,9% of all crypto holders surveyed.