NFT News: President Receives NFT of Father’s Oath of Office

The Israeli parliament has taken advantage of the latest trend in digital artwork. They presented the country’s new president with a digital copy of his father’s signed oath of office. This is from 38 years ago.

Moreover, the Knesset presented the NFT to Isaac Herzog on the eve of his inauguration as Israel’s 11th president on Wednesday last week.

Non-fungible tokens, or NFTs, create one-of-a-kind digital objects by using a variant of the encryption technology used to secure cryptocurrencies. This technology also provides a kind of certificate of authenticity to digital creations. Furthermore, it allows ownership of cloneable items.

Clearly, this new type of encrypted digital artwork has gained popularity, and a select few have sold for millions of dollars.

Knesset’s Technology and Computing Division extracted from the parliamentary archives. The oath of office the former President Chaim Herzog, the father of the newly elected president signed. It then created an encrypted digital image. They then loaned the NFT to the White House and presented it to President Herzog prior to his inauguration.

According to a statement issued by the parliament, the gesture visibly moved Herzog. Based on the global success of NFT, the file lent to the President’s house on a secure and encrypted mobile device could already be worth millions of dollars. This is according to a statement from the Knesset.

Movine Oduor