An statement by South Korea’s Ministry of Culture, Sports and Tourism appeared to satisfy inbound President Yoon Suk-yeol’s promise to reinforce the metaverse environment after stating it will embrace a non-fungible token (NFT) copyright policy.
Supporting the Metaverse Ecosystem
The South Korean federal government appeared to satisfy president-elect Yoon Suk-yeol’s project promise after the Ministry of Culture, Sports and Tourism revealed on April 12 that it will embrace an NFT copyright policy. This copyright policy is anticipated to assist South Korea handle the scourge of phony NFTs in addition to to support the metaverse environment.
According to a report by Ajunews, Yoon Suk-yeol had throughout his election project guaranteed to “nurture a new concept digital asset market through NFT activation.” In addition, the inbound president had actually stated he would rejuvenate the token economy as soon as he was chosen.
Indeed, following the April 12 statement, South Korea’s federal government — by means of the Ministry of Culture, Sports and Tourism — revealed an order for “metaverse/NFT-related copyright issues research service.” At the very same time, the ministry is currently getting ready for what the report called “the selection of a company and the formal contract process.”
Solving NFT Copyright Problems
The Ajunews report stated the ministry and the Presidential Transition Committee are presently examining policies associating with NFTs.
“It is a stage where we are continuously discussing the NFT policy with the takeover committee,” described an unnamed authorities from the ministry.
The authorities included that the goal of these efforts is to make sure South Korea creates services to copyright issues that might arise from using NFTs.
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