Is the UK still dedicated to NFTs?

More and more countries are doing their best to integrate the web3. Some countries opt for the creation of metaverses, others create cryptocurrencies, and still others choose NFT. As for the UK, the choice is skewed towards NFTs, especially as the country has a new Prime Minister. As you may have guessed, the country is still serious in this area and here are the details.

NFT for Great Britain

According to reliable sources, the “NFT For Britain” project initiated by the Prime Minister of the United Kingdom, Rishi Sunak, will evolve despite the current state of the NFT market. Also, even if this project is 6 months late, things will not start from scratch and will evolve one way or another. Today it is known that the Treasury said that Mr. Sunak had asked the Royal Mint to create an NFT which has no relation to Queen Elizabeth and which could soon be officially launched.

An innovative national project

The Royal Mint is responsible for manufacturing and distributing the UK’s NFT and the first range of NFTs was supposed to be released last summer. Unfortunately, as the NFT market is currently unstable, the delay is considered normal. Also, come to think of it, it’s a blessing in disguise, as when the market comes out of its current troubles, UK NFTs may be ready for those interested and for the country.

A new digital currency could emerge

Ambitious, the current Prime Minister wants to make the UK the world’s leading cryptocurrency power. He was still just Chancellor when he started working with people to create a digital currency called Britcoin. It is a stablecoin modeled on the rate of the Pound and today there is even a bill regarding financial services and markets to regulate cryptocurrencies and their free trade.

Sunak could bring about a real revolution

Rishi Sunak is a big fan of web3 products, he is convinced that web3 is not just a fad even if the British army was hacked for this. Also, it’s no secret that Sunak, in his previous role as UK finance minister, found new ways to integrate digital currencies into the economy. Sunak has always shown his interest in stablecoins. By the way, keep in mind that he has almost implemented Britcoin, even if the idea is not very popular yet.

If things go according to Rishi Sunak’s idea, in a short time people in the UK will be able to pay for food, rent and other goods with cryptocurrency. Separately, several cryptocurrency analysts have identified some areas where Sunak could potentially improve the UK’s position when it comes to web products3.

Victory

Passionate about cryptocurrencies, NFT and more generally about everything related to Blockain, I share with you all my tips on my blog! Attention, I am not an expert and what I say is absolutely not to be taken as an absolute truth. I am not an investment advisor 🙂

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