Php versions – Laravel Passport: Target [LcobucciJWTParser] is not instantiable while building [LaravelPassportPersonalAccessTokenFactory]

It’s my first time trying out this package and I followed the installation guide at https://laravel.com/docs/8.x/passport but when this code block in my controller signup action it throws the error:

$token = $user->createToken('authToken')->accessToken;

Here’s the code for my signup action:

public function signup(Request $request){
    $request->validate([
        'name' => 'required',
        'email' => 'required|string|email:rfc,dns|unique:users',
        'password' => 'required|string|confirmed'
    ]);

    $user = new User([
        'name' => $request->name,
        'email' => $request->email,
        'password' => bcrypt($request->password)
    ]);

    $user->save();

    $token = $user->createToken('authToken')->accessToken;

    return response()->json([
        'message' => 'Successfully created user!',
        'access_token' => $token
    ], 201);
}

• Passport Version: 10.0
• Laravel Version: 8.16.1
• PHP Version: 7.4.13
• Database Driver & Version: MySQL 5.7.24