NFT of Top South Korean Politician’s Pro-Crypto Social Media Post Sells for $2.5k

An nameless purchaser has forked out 2,000 KLAY tokens, price over ($2,500), for a non-fungible token (NFT) of a number one former South Korean minister’s Facebook put up that criticized the federal government’s hardline crypto coverage.

The article was penned by the previous Minister of Small and Medium-Sized Enterprises and Startups Park Young Sun, a key determine within the ruling Democratic Party. Park unsuccessfully ran because the get together’s mayoral candidate of Seoul final yr. She has additionally made a quantity of pro-business statements supporting the trigger of home blockchain and crypto corporations.

According to a report from the Korean-language publication Hanguk Kyungjae, the token was offered through the OpenSea platform on the Klaytn blockchain protocol – which was developed by a subsidiary of the chat app large Kakao.

Park created the put up again in January 2018 in response to feedback from the then-Minister of Justice Park Sang-ki, who had claimed that closing all home crypto exchanges was the “solely approach” to calm “speculative fever” within the crypto markets.

Viral Post

At the time, Park was serving as a member of the National Assembly’s Planning and Finance Committee. In the Korean-language post, which went viral on a quantity of social media platforms in early 2018, Park wrote that there could be severe “unwanted effects” from closing exchanges, particularly that “cash” would have “no selection however to stream overseas.” She added that the transfer would stifle innovation “for blockchain and cryptocurrency”-related corporations working in “the period of Industry 4.0.”

And Park concluded that it could quickly be “unimaginable to artificially block the circulation and markets for cryptocurrency.”

Park is a key supporter of the presidential candidate Lee Jae-myung, who will characterize the Democratic Party when South Korea goes to the polls for March 8’s normal election. Lee has made a quantity of pro-crypto manifesto pledges and was instrumental in driving the National Assembly to delay a proposed crypto tax regulation till 2023.

Crypto Donation

The former minister was quoted as explaining that she had paid a 2.5% fee charge on the sale, and that she “deliberate” to make use of the funds to make a “significant” “digital asset donation” to a trigger that “strives to unravel social issues.”

Park mentioned, “I really feel like I’ve taken step one right into a digital world the place we will share values ​​with each other.”

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