In an overwhelming display of support for the crypto industry, the UK government has tasked the Royal Mint with developing NFTs, understood to represent a precursor to a wider scheme of blockchain adoption.
Governmental money manipulator, Rishi Sunak and his team of Treasury enthusiasts announced a plan to stay at the forefront of crypto technology. The first step of which is to release an NFT via the UK’s go to money producer, The Royal Mint. Then, delve into the world of stablecoins as it looks to cement its position as a global hub for blockchain-based assets.
Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer.
This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK
— HM Treasury (@hmtreasury) April 4, 2022
So far, further details remain short on the ground, other than the first NFTs which will likely hit the blockchain in the summer. What is more telling however, is that the government made the request, and that the printer of the country’s money has been set the task, signifying that a nationwide introduction of digital currencies is on the cards, one that will likely include bags of regulation.
The announcement comes as UK living costs soar, and energy prices hit record highs. A high-profile NFT collection may do nothing to ease the minds of the general public. However, if the blockchain adoption goes ahead, it may bring further employment opportunities with it.
Would you like to enter the world of NFT?