As the new fiscal year began this month, many local governments in Japan have started to think outside the box to revitalize their local economies. One such government is the town of Nishikawa in Yamagata Prefecture, which has created an unusual department to explore innovative ways to generate additional financial resources.
The town of Nishikawa established a “kasegu,” or moneymaking, division with a focus on promoting non-fungible tokens (NFTs) that allow people from outside the town to become digital citizens of Nishikawa. The head of the division, Tomohiro Ishikawa, expressed a desire for these digital citizens to become more than just token holders by engaging with and becoming fans of the town.
As part of their strategy, the town plans to organize both in-person and online events to bring together their digital citizens. This approach aims to foster a sense of community among those who have connected with the town through NFT ownership. The town hopes that by leveraging new technologies and thinking creatively, they can attract interest and investment in their local economy.
Overall, this initiative demonstrates a willingness among local governments in Japan to experiment with unconventional methods for economic growth. By embracing new ideas and technologies, these local governments are taking proactive steps to promote economic development and community engagement in their regions.