A technology called "NFT", such as a certificate showing that a product bought or sold in a digital space is original.
The Ministry of Economy, Trade and Industry will embark on the first demonstration experiment using this technology, and intends to hurry to improve the environment that the country can do.
NFT is an authentication technology that proves that the products bought and sold are original in the digital space such as Metaverse, which is being emphasized by Facebook, a major IT company in the United States.
Advanced blockchain technology is used, making it difficult to forge or duplicate.
The world market is expanding rapidly as art works are sold at high prices.
Under these circumstances, the Ministry of Economy, Trade and Industry has decided to embark on a demonstration experiment using NFT for the first time.
The experiment will be conducted in the field of fashion from around February next year.
NFT is attached to one piece of clothes created by the designer and it is converted into 3D data.
Even if the clothes are resold in the digital space, the history can be managed by NFT, and we want to create a mechanism where a part of the profit is returned to the designer.
Sales of digital fashion utilizing NFT have begun overseas, and the Ministry of Economy, Trade and Industry intends to support Japan in this field so that it will not be delayed and to urgently improve the environment that the country can do.
To diversify the sources of revenue for designers
The Ministry of Economy, Trade and Industry's demonstration experiment will be outsourced to a start-up company that already provides services using NFT technology in the field of art.
This company issues an NFT that shows that the painting is original, and if the work is resold, a part of the profit is returned to the artist.
This experiment applies this mechanism to fashion.
In addition to selling one-of-a-kind clothes with NFT attached at the product exhibition, we will also sell data that makes clothes into 3D CG and puts them on the avatar of the virtual space Metaverse and data that is combined with your own photo.
Since the transaction history is managed by NFT, it means that a part of the profit can be returned to the designer if it is resold in real or digital.
The Ministry of Economy, Trade and Industry wants to diversify the revenue sources of designers and strengthen their competitiveness by creating new transactions using NFTs.