The Money Museum mobile application, the MNB’s new blockchain technology-based platform launched

Budapest, 18 May 2022 Today, on International Museum Day, the Magyar Nemzeti Bank is launching a new mobile application, which provides fun and professional content on the Money Museum, also offering a function as a digital coin register. Within the framework of the innovative initiative, the Magyar Nemzeti Bank, the central bank of Hungary, provides a dedicated, private blockchain-based, NFT (Non-Fungible Token) issuance platform, which can be considered as a novelty among central banks.

On International Museum Day, the Magyar Nemzeti Bank, the central bank of Hungary, launched the Money Museum mobile application. The new application has two main functionalities: on the one hand, it provides a new channel for displaying useful content related to the Money Museum and finances in general in order to enhance the interactive museum experience; on the other hand, it is an innovative opportunity to test blockchain-based technology. Utilising this, the MNB has created a dedicated platform for NFT (Non-Fungible Token) issuance and coin registration, which can be considered as a novelty among central banks.

NFTs (Non-Fungible Tokens) are digital assets whose uniqueness is guaranteed by the blockchain technology. The first series of NFTs, available in the mobile application, contains NFTs, based on the six collector versions of the 5-forint circulation coin, issued to mark the 75th anniversary of the introduction of the forint. Users can obtain these NFTs by solving quizzes related to finance, money and coin collecting. By collecting NFTs containing all six letters of the word ‘forint’, users can participate in a prize game in which they can win special physical coin sets.

The new mobile application also provides its users with an opportunity to register some of their newly issued special, actual collector coins in the future on the MNB's private blockchain after purchase, using the unique QR codes on the packaging. The first product with a unique QR code can be won in the prize game of the Money Museum's mobile application by collecting all the pieces in the ‘75th birthday of the forint’ NFT series.

MAGYAR NEMZETI BANK