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In April 2022, the then-chancellor Rishi Sunak announced the creation of "NFT for Britain" which could be traded online. Almost a year later, as the Prime Minister, he stated that the UK government will not be going ahead with the launch after the consultation with the Treasury. According to Andrew Griffiths, the Economic Secretary, the department would however keep the proposal under review.
In response to the announcement, Harriet Baldwin, the chair of the Treasury Select Committee, stated that people should not be putting their money in such speculative digital assets unless they are prepared for the downside
NFTs (Non-Fungible Tokens) are digital assets that represent ownership or proof of authenticity of a unique item, such as artwork, music, videos, tweets, or even virtual real estate in online games. Each NFT is unique and cannot be replicated or duplicated as they are created using blockchain technology.
NFTs are bought and sold on blockchain marketplaces, and the ownership of an NFT is recorded on a public ledger, allowing anyone to verify the authenticity and ownership of the digital asset.
This move by the UK government can be ascribed to the plummeting of the price of NFTs last year after the FTX crash. With the cost of living crisis looming right overhead, it will take some more time for this government to develop trust in the world of Cryptocurrencies and NFTs.
While the UK government is not quite ready to launch the Royal Mint NFTs yet, the upcoming Big Eyes coin (BIG) announced the launch of these cool NFTs. The meme coin is still in its ICO phase and has raised a whopping $32.67 million. As the presale is coming to its final lap, the team launched NFTs for its community, the kitty cuddlers, to have an added fun earning experience.
Big eyes Coin has always kept the community at the core of all its processes. They have given promotional codes, bonuses, loot boxes to the users right from stage 1 of the ICO. The latest entry, the NFTs launching on March 31st can be minted on the Ethereum Blockchain. All Loot boxes have a reward consisting of a custom and unique card. Once the Loot Box is opened, the user gets both cards and BIG tokens.
With the enable mint option the user can mint the card on the ETH blockchain. The NFTs are listed on Opensea, the Ethereum NFT marketplace. For each NFT the user can mint 0.05 ETH. With this bold move, Big Eyes Coin has certainly levelled up in the meme coin arena.
The Shiba Inu NFT or Shiboshi as it is lovingly called was launched in the last quarter of 2022 on the ShibaSwap exchange. It comprised 10,000 Shiboshis eternally written on the Ethereum Blockchain. These NFTs hold a major importance for the ShibArmy as they allow a name change after burning SHIB.
The Shiboshi club welcomed its own twitter account on March 28th. The shiba Inu community flocked to the social media platform to follow their favourite NFT including the lead developer Shytoshi Kusama. An engaging social media presence will certainly add up to the popularity of the NFT and of the meme coin at large.
While the UK government still seems dodgy about the launch of Royal Mint NFTs, successful NFT launch by meme coins like Shiba Inu and the upcoming Big eyes Coin proves that they have the trust of the crypto community.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
