Moments after Queen Elizabeth II passed away, the crypto market was flooded with NFTs and meme coins of the monarch.
Markets tend to react quickly to big news and the crypto market is no exception. Yesterday, just hours after the announcement was made official, Death of Queen Elizabeth II of England, the crypto market received more than 40 meme tokens and hundreds of NFTs related to the monarch.
Some of these tokens, such as Queen Elizabeth Inu or Elizabeth, have reached a transaction volume higher than the Two million dollars in just 12 hoursHowever, the lack of real liquidity behind these projects shows that they are typical schemes. pump and dumps, such as the nefarious token related to The Squid Game.
Many of these tokens have tacky names, such as QueenDoge or Rip Queen Elizabeth, which has sparked criticism from a large part of the crypto community, who is ashamed of this type of action and emphasizes that a sector that aims to be implemented massively in society should not carry out such immature actions.
Queen Elizabeth II stars in OpenSea
The death of Queen Elizabeth II has also been the topic of the day in the OpenSea NFT marketplace, with several collections related to the death of the queen.
The RIP Queen Elizabeth Non-Fungible Token Collection, consisting of 520 images of the queen in animation style, has not been well received by the community and has so far only generated about 0,60 ETH, just over $1000.
The size of the collection suggests that the artist had been working on it for a long time and was waiting for the right moment to put it up for sale on the digital market.
In both cases, most of the crypto community has shown its maturity by rreject and not support this type of actions.
The United Kingdom remains committed to becoming a crypto hub
Despite the profound political changes that the United Kingdom is undergoing, with a new Prime Minister and the death of Queen Elizabeth II, her Favorable policy for the crypto sector and blockchain innovation It seems to remain unchanged.
At least that is what the Economic Secretary to the Treasury, Richard Fuller, said, who assured that the plans of the new Prime Minister, Liz Truss, are still turning the United Kingdom into “a dominant global hub for crypto technologies".
The Prime Minister has reaffirmed her commitment to facilitate Internet connectivity to all residents of the country, facilitating access to buying, selling and mining cryptocurrencies.
For Fuller, the UK must be the world centre for all those who want to innovate and develop new ideas in the world of cryptocurrenciesBy developing crypto-friendly regulatory frameworks, they aim to attract investment and generate new jobs, thereby benefiting from tax revenues.
The Treasury Secretary also explained that Truss will continue to push ahead with the Financial Services and Markets Act, which was introduced in July, which will establish a regulatory framework for stable coins.
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