A series of announcements was made about the U.K. and the Royal Mint NFT. The U.K. is determined to take and the NFT is an emblem of this approach.
As an emblem of the forward-looking approach the UK is determined to take, the Treasury asked the Royal Mint to create a non-fungible token by the end of the year.
The NFT was part of a series of announcements made by the Economic and Finance Ministry to make the United Kingdom a global hub for Cryptocurrencies.
No date has been set for the release of the token, but the NFT will be issued by the summer.
Billionaire Dog NFT rug pull
A self-proclaimed “on-chain sleuth” named Zachxbt made a new thread on Monday accusing a French influencer of having a major role in an NFT project.
The Billionaire Dogs Club project was launched in December of 2021 at a public mint price of 0.2 ether, low demand for the NFTs saw the project restrict supply from 6,500 to 2,000 in a bid to get interest for the project.
The team behind the project vanished a week later, leaving the NFT owners holding the bag. $400,000 was sent to Correia from the estimated $960,000 generated by the project, according to an analysis by an analyst.
Correia posted on his social media accounts that the same wallet was used to purchase high value NFTs. It is “sickening to see a DOX’d influencer so blatantly rug a project like this,” he said.
Pudgy Penguins sold to Netz Capital
The collection is under new management according to a team behind the project. Luca Netz of Netz Capital bought the project for about 2.5 million dollars.
Cole Villemain, the project’s controversial founder, was voted out in a few months due to questions about his past dealings.
Netz will receive all future royalties from secondary sales after purchasing the 8,888 “Pudgy Penguin” NFTs.
Other Nifty News
The Creator Program is a mentorship program that helps entrepreneurs accelerate their business. Visa wants to bring together digital creators to educate them on NFT commerce.
ShapeShift launched an NFT auction to support female artists in the NFT industry. The auction will run until April 11 on Open Sea.
Featured photo source unsplash.com
