UK’s Finance Minister Rishi Sunak Asks Royal Mint to Create an NFT

Even though trading volumes for NFTs have somewhat declined overall, the space is seemingly thriving and getting more attention. The last bit comes from none other than the UK’s Finance Minister – Rishi Sunak.

• Rishi Sunak – the finance minister of the United Kingdom – has asked the Royal Mint to create a non-fungible token (NFT), according to a Reuters report.
• The token should be ready by the summer, and it is supposedly a part of the ministry’s “forward-looking approach” towards crypto.
• The Royal Mint is a government-owned mint that’s responsible for the production of coins for the United Kingdom.
• While Sunak has shown his support of the technology backing cryptocurrencies, the Bank of England, especially in the face of its Governor – Andrew Bailey – is of the opinion that they are a “front line” for scams.

You only have to ask the question: what do people committing ransom attacks usually demand payment in? The answer is crypto. – said Bailey recently.

• It appears that Sunak doesn’t share the same stance, which can objectively be classified as short-sighted at best.