​​Britain’s Royal Mint to Launch NFT as Government Targets Crypto Head Start

• The Finance Minister of the United Kingdom, Rishi Sunak has asked the Royal Mint to create and launch an NFT by the summer

• The U.K’s NFT initiative is part of a plan by the government for the country to become a “world leader” in cryptocurrency

• Specific details have not been given about the kind of NFT that will be created

Since going viral last year, NFTs have been getting more acceptance. The latest party to take interest in the growing digital assets is Britain. This comes as the United Kingdom government announced on Monday that it plans to mint its own NFT.

During a fintech event that was held in London, City Minister, John Glen announced that Finance Minister, Rishi Sunak had asked the Royal Mint to create and issue the NFT by summer.

The Royal Mint is a government-owned company that is responsible for minting coins in the United Kingdom.

The U.K’s plan is part of a larger effort by the government to ensure that the country becomes a “world leader” in crypto, according to Glen. The minister also revealed that several other steps were being taken by the government that will drive the study and use of blockchain technology.

Read also: MetaMask Launches Stunning Crypto Update for Apple Pay Users

The new plan comes after the government unveiled plans to create a regulatory framework for cryptocurrency assets and stable coins.

Over the past year, NFT has gained traction globally, thanks to greater adoption from celebrities and some major companies. These digital assets are used to represent ownership of virtual items like artwork, music, and video game avatar, using blockchain.

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