The UK government has dropped plans for a non-fungible token (NFT) issued by the Royal Mint due to concerns over demand, according to Finance Minister Jeremy Hunt. The Royal Mint was initially tasked with creating the NFT in April 2022, but the government announced on Monday that it had decided to drop the project. Hunt cited the changing landscape of the NFT space and the government's uncertainty over demand as the reasons for the decision. Despite this, the UK government remains committed to its crypto hub ambitions and has not been deterred by the recent downturn in the crypto market.
(By Camomile Shumba)
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