Israel’s incoming President is set to receive an NFT version of the original Presidential oath.
![The first NFT Presidential Oath will be given to Israeli's incoming President](https://coinscreed.com/wp-content/uploads/2021/07/The-first-NFT-Presidential-Oath-will-be-given-to-Israelis-incoming-President.jpg)
The Israeli Knesset has been gripped by NFT fever as Isaac Herzog, Israel’s 11th President prepares to take the digital blockchain-certified version of the first draft oath.
After 87 Knesset members voted for him, Herzog is likely to take over as Prime Minister. The new president will be given a Non-Fungible Token (NFT) of his father’s original Presidential oath, which he took as the country’s sixth president.
The Israeli parliament is the first of its type to experiment with cutting-edge technology, with the notion taking shape just a week after it was announced.
According to sources, the first copy of the original oath was recently unearthed in the archives, prompting parliament members to consider giving the new president a copy of the historic document, and someone suggested using NFT for the purpose. The speaker of the parliament would present the NFT to the president, who stated,
I am thrilled to give President-elect Herzog a special memory from his father that includes the wording of the oath he signed 38 years ago,” said Knesset Speaker Mickey Levy.
Gil Segal, Director-General of the Knesset, oversaw the production of the NFT. Using a secure and coded smartphone, members of the Knesset’s Technology and Computing Division created the one-of-a-kind image file.
NFTs have been the most sought-after crypto use case this bull season, with a slew of mainstream celebrities, athletes, and musicians who have already launched and auctioned their NFT product.
Many of these celebrity NFTs sold for millions of dollars. According to a recent report, the NFT market generated more than $2.5 billion in sales in the first two quarters of 2021.
The NFT craze began with the sale of a digital artist named Beeple’s work for $69 million. Many mainstream outlets joined the league as the appeal of blockchain-certified real-world art and collectables expanded.