The Royal Mint is creating an NFT – is this the security investors needed?
Our Keith Oliver, Head of International, and researchers Caroline Timoney are in London business paper CityAM talking about how NFTs might not be the most secure investment, following the much-ridiculed announcement that the Royal Mint will be issuing an NFT of its own this summer.
NFTs, or ‘non-fungible tokens’, are one-of-a-kind digital assets. They have no physical or product equivalent but are registered on the blockchain thus proving ownership. Currently NFTs have consisted of digital works of art, or creative content, varying from photographs to in-game content, but also including unique sneakers in a limited-run fashion line, domain names and event tickets. Undoubtedly there is potential for digital artists and merchandising opportunities to be explored. There are also extensive possibilities for fraud.
A more detailed and updated version of this article was published in Finextra on 9 June 2022.