The UK Government Treasury announced this Monday that it has asked the Royal Mint to create a non-fungible token (NFT) to be issued by the end of the year “as an emblem of the future approach that the UK is taking.” determined to adopt.
Chancellor @RishiSunak have asked @RoyalMintUK to create an NFT to be issued by the summer.
This decision shows the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK
— HM Treasury (@hmtreasury) April 4, 2022
Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued before the summer. This decision shows the forward-thinking approach we are determined to take towards crypto assets in the UK. pic.twitter.com/cd0tiailBK
The NFT was part of a series of announcements by the Ministry of Economy and Finance to turn the UK into a global cryptocurrency hub.including the modification of a regulatory framework on payments with stablecoins.
The NFT will be “issued for the summer”, with no date for the token launch having been publicly set.
A rug-pull from a Billionaire Dogs Club NFT
The self-confessed “on-chain detective” zachxbt, popular for his Twitter threads investigating cryptocurrency figures and projects, has made a new thread on Monday alleging that French influencer Laurent Correia had a major role in an NFT project that ended up being a rug-pull..
1/ Time for another $960k NFT rug this time involving Laurent Correia a popular French influencer with a reality TV show. pic.twitter.com/QkGeDecr5f
— zachxbt (@zachxbt) April 4, 2022
1/ Time for another $960k NFT rug-pull, this time involving Laurent Correia, a popular French influencer with a reality show. pic.twitter.com/QkGeDecr5f
The Billionaire Dogs Club project launched in mid-December 2021 at a public mint price of 0.2 Ether (ETH), but low demand for NFTs caused the project to restrict supply from 6,500 tokens to 2,000 in an attempt to garner interest in the project.
According to zachxbt, the Discord channel and the team behind the project disappeared a week later, leaving the owners of NFT up in the air. On-chain analysis conducted by the analyst revealed that of the estimated $960,000 generated by the project, $400,000 was allegedly sent to Correia’s public crypto wallet..
4/ Here’s a breakdown where the proceeds from the project went.
Laurent himself received over $400k to his public wallet. pic.twitter.com/sckMfLoT5V
— zachxbt (@zachxbt) April 4, 2022
4/ Here is a breakdown of where the revenue from the project went.
Laurent himself received more than 400 thousand dollars to his public purse. pic.twitter.com/sckMfLoT5V
The same wallet was used to purchase other high-value NFTs, which Correia posted on his social media accounts. Zachxbt tagged the Dubai Police, the local law enforcement body where Correia lives, tweeting that it’s “sickening to see a DOX influencer so blatantly rug-pull a project like this.”.
Netz Capital buys Pudgy Penguins
The team behind the “Pudgy Penguins” NFT project tweeted on Sunday that the collection was under new management. Luca Netz of Netz Capital bought the project for 750 ETH, about $2.5 million at the time of writing.
Looking forward to spreading love across the Meta ❤️ https://t.co/ZBEF3W6XV2
— Luca Netz (@LucaNetz) April 3, 2022
Looking forward to spreading love in Meta ❤️ https://t.co/ZBEF3W6XV2
A few months earlier, the project kicked out its controversial founder Cole Villemain.which has been object of questions about his past efforts in projects, gifts and other businesses.
With the purchase of the 8,888 NFT of “Pudgy Penguin”, Netz will receive all future rights from secondary sales.
Other Nifty News
Visa has announced the launch of its Creator Program, a mentoring program aimed at helping entrepreneurs accelerate their business through NFTs.. Visa says the goal is to bring digital creators together to empower and educate them on blockchain technology and NFT trading.
Non-custodial cryptocurrency platform ShapeShift DAO launched an NFT auction in support of women artists in the industry of NFT and blockchain. The auction began on Monday at OpenSea and will run until April 11.
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