UK Royal Mint To Issue Its First NFT In 2022

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Britain’s Royal Mint has given Her Majesty’s Treasury the green light to create the country’s first official NFT sometime this summer.

The Royal Mint in the United Kingdom is a government mint that produces coins for the United Kingdom and is wholly owned by Her Majesty’s Treasury.

The move to create the nation’s first official NFT was announced via the HM Treasury Twitter account and confirmed by the economic secretary for the Treasury.

The decision marks a wider acceptance of digital assets. For the Royal Mint, digital assets such as NFTs are seen as a digital extension of its regular practice of coin release.

The introduction of NFTs is also seen as part of a larger push by the UK government into crypto-based assets and technologies.

“There is a genuine opportunity to build on our strengths in FinTech and seize the capitalist energy which has already made UK financial services what it is, and use it to unleash the potential of crypto technologies,” said John Glen, the economic secretary for the Treasury.

Mr Glen said crypto-technology could help the UK “attract investment, generate waves of new jobs and create a wave of groundbreaking new products and services.”

For more information read the original story in ZDNet.


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