In a policy speech on Monday, Japan’s Prime Minister Fumio Kishida announced plans to increase investments in non-fungible tokens (NFTs) and the metaverse. According to the Prime Minister’s Office of Japan, Kishida says the country would increase its investment in digital transformation and expand its use of Web3 services. His address comes on the heels of Japan’s rising efforts to use blockchain technology – last month, the Japanese government awarded NFTs to seven mayors for their accomplishments in using digital technology to solve problems. Kishida, who took office in 2021, has identified Web3 development as one of the pillars of economic change.
