UK to Launch NFT at Finance Minister's Request

Mon, 04/04/2022 - 14:32

UK Finance Minister has asked for a non-fungible token to be made and launched later this year

UK to Launch NFT at Finance Minister's Request

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Reuters has just reported that the finance minister of the U.K., Rishi Sunak, has asked the Royal Mint—the organization that mints coins owned by the British government—to issue a non-fungible token (NFT) and release it this summer.

UK FINANCE MINISTRY SAYS CHANCELLOR HAS ASKED UK ROYAL MINT TO CREATE AN NFT, TO BE ISSUED BY THE SUMMER.
— *Walter Bloomberg (@DeItaone) April 4, 2022

According to the source, this is part of Sunak's new approach focused on crypto assets. NFT is a digital token with a single copy on a blockchain. These tokens have become a hot trend recently, selling for massive sums in Ethereum on platforms like OpenSea.

UK'S FINANCE MINISTER SUNAK: IT IS MY AMBITION TO MAKE THE UK A GLOBAL HUB FOR CRYPTOASSET TECHNOLOGY.
— Breaking News | FinancialJuice (@Financialjuice1) April 4, 2022

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On Feb. 13, U.Today reported that a rare NFT "alien" that belongs in the CryptoPunk collection was sold for a mind-blowing $23.7 million.

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Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.