The Japanese Prime Minister, Fumio Kishida, confirms the government’s position in favor of web3. He specifically supports projects powered by non-fungible tokens (NFT) and metaverse.
Nft and metaverse in Japan: fumio kishida persists
He is leading the assault in favor of web3. On October 3rd, during his policy speech to the National Diet, the Japanese Parliament, Prime Minister Fumio Kishida announced that his government plans to increase investments in web3 services, especially those related to NFT and metavers.
As early as 2021, when he took office as head of the government, Fumio Kishida considered web3 as one of the pillars to breathe new life into the Japanese economy. His recent speech in front of the National Diet confirms this will of his administration to write the future of the country by using digital technologies, and by supporting web3 actors.
Web3: government initiatives are growing
In April this year, the Japanese Prime Minister’s Liberal Party published a “White Paper on NFT”. The paper highlights the importance of the country’s wealth of intellectual property, especially in the fields of animation and games.
The white paper presents Japan’s strategy for the web3. It also contains the Liberal Party’s recommendations to protect users and to set up a national strategy for the sector.
Three months later, in July, the web3-related departments were integrated into the Ministry of Economy, Industry, and Trade. This integration took place following the launch of the Office for the Promotion of Web3 Policy. This is an initiative of Fumio Kishida’s administration and the ministry.
The following month, in September, the Japanese government issued NFTs to recognize the work of local governments that use digital technology to address challenges in their respective jurisdictions. The Prime Minister attended the presentation of the awards to seven mayors at the “Summer Digi Denkoshien 2022” ceremony.
Thanks to its dynamism in the field of entertainment coupled with the support of its government, Japan would be well on its way to becoming a fertile ground for the emergence and growth of various projects in the web3 and in the metaverse. Initiatives, such as those of the University of Tokyo, which offers distance learning in and about metavers, should thus multiply in the country.