The Royal Mint has been situated in the UK since 1663 and is now charged with issuing official NFTs for a variety of different uses, from commemorative coins to postage stamps.

UK Treasury Tasks Royal Mint with Issuing Official NFTs

The UK government has entrusted the Royal Mint with producing NFTs, which are seen to be a forerunner to a larger plan of blockchain use, in an outpouring of support for the crypto sector.

Rishi Sunak, a government money manipulator, and his team of Treasury aficionados have declared a goal to be on the cutting edge of crypto technology. The first stage is to issue an NFT via the Royal Mint, the UK’s primary money maker. Then, as it seeks to solidify its position as a global center for blockchain-based assets, explore into the realm of stablecoins.

The Chancellor, @RishiSunak, has requested that an NFT be provided by the summer.

This decision demonstrates our commitment to a forward-thinking approach to cryptoassets in the United Kingdom.

April 4, 2022 — HM Treasury (@hmtreasury)

Additional than the initial NFTs, which are expected to reach the blockchain in the summer, there are little other specifics on the ground. What’s more revealing is that the government made the request, and that the country’s money printer has been assigned the assignment, implying that a statewide rollout of digital currencies is on the cards, one that will almost certainly be accompanied by a slew of regulations.

The news comes as living expenses in the United Kingdom continue to rise, and energy prices have reached new highs. A high-profile NFT collection may do little to calm the public’s worries. However, if blockchain adoption proceeds, it may result in more job possibilities.