Japan to Invest in Metaverse and NFTs
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Oct. 5, 2022

According to Japanese Prime Minister Fumio Kishida's speech to the National Assembly, the Japanese government plans to provide funds for the promotion of Web3 services, including those related to the metaverse and NFTs.

He has said that as part of digital transformation, the government will issue NFTs to benefit local governments that apply new technologies to solve problems in their area of expertise.

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Together with the US, there are plans to develop and manufacture semiconductors and work on regulatory reform related to the technology sector.

Kushida has also discussed the digitization of national identity documents.

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In August it became known the Japanese authorities plan to lower the capital gains tax rate for retail investors from 55% to 20%.

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