The UK Government has announced it’s getting into non-fungible tokens with the reveal of a planned ‘Royal Mint’ NFT for this summer. Chancellor of the Exchequer Rishi Sunak has asked the Royal Mint – who mint legal tender coins for circulation in the United Kingdom, while the Bank of England prints banknotes – to create a non-fungible token (NFT) by the summer of 2022. The UK government minting its own NFT is intended to ‘show the forward-looking approach we are determined to take towards cryptoassets in the UK’. It’s an…interesting time for the UK government to be announcing an NFT project. Left wing UK media outlet The Guardian criticized the Tory government for releasing an NFT during a time of increasing poverty and austerity.

Source: Indian Express April 06, 2022 02:07 UTC