President-elect Yoon Suk-campaign yeol’s promise looked to be fulfilled when the Ministry of Culture, Sports, and Tourism declared on April 12 that it will adopt an NFT copyright policy. This copyright policy is expected to assist South Korea in combating the problem of counterfeit NFTs while also supporting the metaverse ecosystem.
Yoon Suk-yeol promised to “nurture a new concept digital asset market through NFT activation” during his election campaign, according to Ajunews. Furthermore, once elected, the incoming president stated that he will revive the token economy.
Following the statement on April 12, the South Korean government issued an order for “metaverse/NFT-related copyright concerns research service” through the Ministry of Culture, Sports, and Tourism. At the same time, the ministry is preparing for “the selection of a company and the formal contract process,” according to the report.
Identifying and Resolving NFT Copyright Issues
According to the Ajunews source, the ministry and the Presidential Transition Committee are now evaluating NFT policy.
“We’re at a point where we’re constantly reviewing the NFT policy with the takeover committee,” said an unnamed ministry official.
The goal of these efforts, according to the source, is for South Korea to come up with answers to copyright issues that may arise as a result of the use of NFTs.
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