The U.K. government has announced plans to mint its non-fungible token (NFT) to become a “world leader” in the cryptocurrency space.
According to City Minster John Glen, Finance Minister Rishi Sunak has requested the Royal Mint to create and issue the NFT. He further stated that more details will be presented soon. The Royal Mint is a government-owned company responsible for minting coins for the United Kingdom.
NFT and their Prospects
NFTs are blockchain-based digital assets that reflect ownership of a virtual item such as an artwork or a video game avatar. They have acquired a lot of popularity in the last year owing to celebrity endorsements and corporate sponsorships.
According to Glen, the UK's NFT program is part of a larger government attempt to "lead the way" in crypto...
