UK Royal Mint to release its first NFT this summer

Rishi Sunak, Chancellor of the Royal Mint of the United Kingdom, has asked Her Majesty’s Treasure to issue the country’s first official NFT sometime this summer.

The move was: announced via the HM Treasury Twitter account and was confirmed by John Glen, the Treasury’s economic secretary.

Speaking at the Innovate Finance conference in London, Glen explained the move further, saying: “There is a real opportunity to build on our strengths in FinTech and seize the capitalist energy that has already made UK financial services what it is, and use it to unleash the potential of crypto technologies.”

Also: Europe votes against anonymous crypto transfers

The Treasury itself noted that the NFT issuance “…shows the forward-looking approach we are committed to taking towards cryptoassets in the UK.”

NFTs remain a somewhat controversial topic. While some believe they are the future of digital asset ownership, others see them as a hotbed of scammers trying to win before the latest digital bubble bursts.

For its part, the Royal Mint appears to be treating them as something like a digital extension of its regular practice of releasing commemorative coin sets, and as part of a larger UK government committed to crypto-based assets and technologies.

Also: The Future of Money: Where Blockchain and Cryptocurrency Will Take Us Next

Like several other countries around the world, the UK looks set to make its shores a welcoming place for crypto businesses. At the same event, Glen added that crypto technologies could help the UK “attract investment, generate waves of new jobs and create a wave of groundbreaking new products and services”.

While it has yet to dive into NFTs like the UK’s Royal Mint, the US federal government has also recently taken its first steps to officially address the country’s future in the crypto space, including the potential exploration of a digital US dollar. .


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