Tuesday, May 17, 2022
More

    Even the Royal Mint is now involved with NFTs – and so should you be

    The UK Treasury asking the Royal Mint to create a non-fungible token is the evidence you need that you should consider including the new emerging asset class into your investment portfolio.

    The bold assessment from James Green, the Europe and Latin America Director of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations, follows the Chancellor of the Exchequer, Rishi Sunak, on Monday announcing that he had asked the 1,136-year-old institution to create an NFT so it could be issued this summer.

    “This decision shows the forward-looking approach we are determined to take towards cryptoassets in the UK,” the Treasury said on Twitter, posting a picture of the royal coat of arms.

    An NFT is a digital asset that can be an image, audio clip, or GIF and whose ownership is recorded on a tamper-proof digital ledger known as a blockchain.

    Over the last year, the NFTs market has exploded, with a digital-only piece of art selling for $69 million in 2021.

    Since then, an ever-growing number of celebrities and artists, and fashion, music, tech and sports brands have been creating, buying and selling tokens.

    James Green says: “NFTs – the hottest new asset class – are often wrongly seen as the niche domain of young, tech gurus in Silicon Valley, hipster artists, and on-trend social media influencers.

    “But the decision taken by the Treasury to get a clunky, old institution such as the Royal Mint involved in the digital asset space underscores how the market is much more than a niche, fad or bubble.

    “It highlights that NFTs are on the cusp of becoming a mainstream investment opportunity and, as such, is evidence that investors should now be considering including them into their portfolios.”

    He continues: “These digital assets are immutable and exchangeable, offering a store of value and potentially decent source returns. They shouldn’t be ignored by those wanting to seek to build their wealth by future-proofing their portfolios.”

    With the NFT market exploding, earlier this month, deVere Group launched dV Gems, a non-fungible token (NFT) platform that aims to give investors access to the emerging asset class and streamline digital ownership.

    At the time of the launch, the deVere Group CEO, Nigel Green, noted: “Uniquely positioned to help investors see value and opportunity in a digital financial era, dV Gems will provide immediate access to the decade’s hottest emerging asset class – an asset class that will become a standard feature of investment portfolios within a few years.”

    He added: “This platform will help clients and prospective clients spot the winners of the future.  We’ll guide you to understand the new market and why we believe NFTs have a massive part to play in the future of financial investing.”

    James Green concludes: “Even the Royal Mint, an institution founded in 886 AD, knows that NFTs are coming into the mainstream.  And so should investors.

    “These digital assets deserve proper consideration as a serious opportunity as they begin to reshape the investment landscape.”

    Recent Articles

    Related Stories