the evening standard said May 5 It is issuing a series of free non-fungible tokens (NFTs) to commemorate the coronation of King Charles.
NFT features animated St. Edward’s Crown
The collectible NFT includes an animated copy of “The Oath” by Trevor Jones. The centerpiece of the Crown Jewels of the UK in this painting is the St Edward’s Crown.
The non-fungible token is currently available for free at Nifty Gateway Marketplace, Users only need to provide an email address to register and collect the item, although it is unclear whether users need to pay a transaction fee to receive the item.
The NFT is “open edition”, meaning that there is no limit to the number of NFTs that can be mined. Users have created 9,200 copies of the NFT as of 11:30 PM UTC on May 5th.
While there is no limit to the number of NFTs that can be minted, there is a time limit. Users can only create tokens between Thursday, May 4th and Sunday, May 7th.
The event represents a step into crypto from a major UK company. The Evening Standard was the UK’s fourth largest daily paper by circulation in 2020, after The Metro, The Sun and The Daily Mail. It circulated over 314,000 papers per day in January 2023.
state of crypto in the uk
The UK government previously announced its desire for the country to become a “crypto hub” in April 2022. This originally included plans for the Royal Mint to issue its own NFTs, though those plans were eventually scrapped in March 2023.
The UK recently announced plans to create crypto regulation post-Brexit and currently has stricter regulations from the Financial Conduct Authority (FCA). The FCA has recently cracked down on unregistered crypto ATMs and non-compliant advertising, and the agency has also targeted specific crypto companies like Binance.
Statista suggests that the UK crypto industry could see $1.89 billion in revenue in 2023.