Mintable CEO Zach Burks said the UK government is in danger of regulating NFTs in a way that is inconsistent with the nature of the emerging technology.

Burks said he believed a recent UK parliamentary committee report grossly exaggerated the role NFTs play in copyright infringement and failed to recognize that they are more than just unstable digital images.

And he believes that NFTs are in a transitional phase, where they are emerging from the speculative craze and are now entering a practical phase of implementing NFTs in a range of different things.