UK Honors King Charles III’s Coronation With NFT in Partnership with Artist Trevor Jones
Last Updated on 7 May 2023 by CryptoTips.eu
The coronation of the new King of Britain, King Charles III was marked with a lot of celebration and fanfare. But what makes it even more interesting is the launch of a non-fungible token (NFT) collection in honor of the occasion.
A top UK newspaper, the Evening Standard in partnership with renowned Scottish artist Trevor Jones launched an NFT collection. The open edition NFT known as The Oath was made accessible on the NFT platform of Nifty Gateway until midnight on Sunday for any interested person to mint for free.
The NFT is a digitized and animated version of one of Jones’ paintings that depicts St Edward’s Crown, a 2.2 KG solid gold crown used in every coronation since Charles II in 1661.
I wanted this particular piece to be for the people and anyone anywhere can mint one of these NFTs for free.
Jones said in a comment published by the Evening Standard.
The UK and NFTs
The UK has shown in many ways that it is interested in NFTs. Apart from the government, Trevor Jones himself is an early adopter of NFTs. He’s known for transforming works in traditional media into digitized tokens, and The Oath is the ninth NFT he has released on Nifty Gateway.
Sotheby’s, a top London-based auction house, last week announced it was expanding its NFT and Metaverse platform to enable on-chain peer-to-peer secondary trading. That way, artists like Jones can continue to earn royalties after selling their NFTs.
The government of the UK itself considered launching a royal NFT collection when its current prime minister Rishi Sunak was chancellor. Although the treasury recently put the plans on hold and under review, this shows that the UK is generally favorably disposed towards NFTs and could revisit the Royal Mint NFT project in the future.
Becoming a crypto hub
The financial regulator in the UK, the Financial Conduct Authority (FCA) recently called for collaboration with crypto companies to come up with regulations for the crypto industry. This is the first time a country is taking this step, which further demonstrates the country’s willingness to explore cryptocurrencies.
If successful, such regulation will make the UK a crypto hub, since the regulation will be mutually beneficial for the industry and the government. It will be interesting to know what the new king thinks about cryptocurrencies and NFTs.
olinchuk / Depositphotos.com
