The UK’s fourth largest newspaper is offering free NFTs for the coronation of King Charles
The Evening Standard said on May 5 that it is issuing a series of free non-fungible tokens (NFTs) to commemorate the coronation of King Charles.
NFT has animated St. Edward’s Crown
The collectible NFT includes an animated replica of “The Oath” by Trevor Jones. This painting shows St. Edward’s Crown, the centerpiece of Britain’s Crown Jewels.
The non-fungible token is currently available for free on the Nifty Gateway marketplace. Users only need to provide an email address to register and collect the item, although it is unclear whether users will have to pay a transaction fee to receive the item.
NFTs are “open-issue”, meaning there is no limit to the number of NFTs that can be minted. Users have minted 9,200 copies of the NFT as of 23:30 UTC May 5.
Although there is no limit on the number of minted NFTs, there is a time limit. Users can only mint the token between Thursday 4 May and Sunday 7 May.
The event represents a move into crypto by a major British company. The Evening Standard was the UK’s fourth largest daily newspaper by circulation in 2020 after The Metro, The Sun and The Daily Mail. It circulated over 314,000 newspapers per day in January 2023.
The 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 initially included plans for the Royal Mint to issue its own NFT, although these plans were eventually dropped in March 2023.
The UK has recently announced plans to create post-Brexit crypto regulation and currently has strict rules from The Financial Conduct Authority (FCA). The FCA has recently cracked down on unregistered crypto ATMs and non-compliant advertising, and the agency has even targeted specific crypto companies such as Binance.
Statista suggests that the UK crypto industry could see $1.89 billion in revenue by 2023.
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