NFT adoption is progressing through hometown tax payments, and JPYC aims to revitalize the region with commemorative SBT

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Kaiyo Town, Tokushima Prefecture distributes commemorative SBT

Local governments across Japan are beginning to introduce NFTs (non-fungible tokens) as return gifts for hometown tax payments. This new approach leverages Web3 technology to appeal to a broader user base and leverages the properties of NFTs to design innovative benefits.

This move is attracting attention as a novel initiative by local governments to use digital technology to highlight the appeal of their regions and attract new supporters.

JPYC Corporation will provide the “2023 JPYC Hometown Tax Commemoration SBT (SoulBound Token)” to taxpayers who use JPYC gift certificates in Kaiyo Town, Tokushima Prefecture. This SBT is a digital token based on blockchain technology, and its non-transferable design is intended to provide recipients with a special digital medal.

Source: JPYC

JPYC gift certificates are paper-type gift certificates that can be purchased with the stable coin “JPYC (JPY Coin)” linked to the Japanese yen. This gift certificate can be used for hometown tax payments. JPYC positions this initiative as a demonstration experiment for the future expansion and utilization of tax payment services for local governments.

Kaiyo Town is a tourist destination rich in nature, offering return gifts such as seafood such as spiny lobster and kueh, and special Awaodori chicken wings. Additionally, the final order deadline for hometown tax donations using JPYC gift certificates is 23:59 on December 12, 2023, and orders must be sent to the designated address by December 22 to use them.

connection:JPYC plans to partner with Mitsubishi UFJ Trust and Progmat to expand stable coins and enter the domestic and international SC exchange industry

Utilize NFT to acquire new members

In Takamatsu City, Kagawa Prefecture, “Takamatsu Bonsai Patron NFT” has been adopted as a new return gift. This project was launched in May 2023 by Chatan Yoseien, a long-established bonsai garden in Kinashicho, Takamatsu City, and will provide NFT benefits to those who support the cultivation of black pine bonsai that has been growing for over 200 years. Based on the rank according to the amount of patronage, patrons will be provided with opportunities to deeply experience bonsai culture, such as watching bonsai explanation videos and receiving direct instruction from professionals. Applications for hometown tax payments will begin on December 8th.

Meanwhile, in Kishiwada City, Osaka Prefecture, “Membership NFT that allows you to become the owner of a bamboo grove in Kishiwada City” is being offered as a return gift for hometown tax donations. This NFT is part of a resource circulation project based on the SDGs partnership agreement concluded between Adventure World and Kishiwada City, and is being implemented with the aim of increasing bamboo forest fans and promoting resource circulation. A limited number of 100 membership NFTs will be issued starting November 30th, and can be obtained through a donation of 10,000 yen. It includes an NFT video of a panda eating bamboo and a membership card made from laminated bamboo. The membership period is from January 1, 2024 to December 31, 2024.

What is NFT?

NFT is an abbreviation for “Non-Fungible Token” and is a digital token that is non-fungible and has unique value. Technology is used in a wide range of areas, including games, music, artwork, and various certificates. It is also used as a membership card for a community where only specific NFT holders can participate.

▶Virtual currency glossary

connection:The first NFT gift for hometown tax donations sold out within minutes of release.

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