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Yamakoshi in Niigata Prefecture (Japan) uses non-fungible tokens (NFTs), which are used as a way of combating its declining population.
A major earthquake in April 2004 caused widespread evacuations. The village is now experiencing significant depopulation. Even though it was deemed safe, less than half the 2,200 original residents returned, leaving a population of around 740.
Yamakoshi launched the “Neo-Yamakoshi Village” The project uses NFTs as a way to promote traditional Japanese culture while raising funds.
This initiative is centered on Nishikigoi NFTsDigital “e-resident cards.” A report These NFTs, which were developed by Yuri Group have generated approximately $423,000.
Nishikigoi NFTs can also be used to represent governance tokens within the decentralized organization of the village. They allow both global and local digital residents to have a say in these decision-making processes. The Yamakoshi DAO, which has six voting rounds, is responsible for influencing local projects.
This project uses the Metaverse to create an exact replica of Yamakoshi for town hall meetings. The platform allows physical residents and those who are digital to engage in discussions and gather together.
Takeuchi Haruka is the founder of Neo-Yamakoshi Village. He stressed the importance of protecting the cultural heritage of the village. “No matter how small a village it is, the culture cultivated by the region is extremely valuable. I want people the world over to recognize this value, as I think it’s important for the future of Japan as a whole that it preserves the culture and spirit it has nurtured.”
This is part of an overall trend to leverage Web3 technology in order to promote socio-economic progress. Japan Airlines made a similar decision. launched In February 2016, NFT launched a project with Hakuhodo, to transform local experiences into digital content. The project is designed to revive Japanese regions that are experiencing population declines. It also aims at enhancing regional tourism and fostering visitor engagement.
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Source: blog.cryptoflies.com