Israel’s incoming President is set to receive an NFT version of the original Presidential oath.
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.