The UK government has decided not to proceed with plans to launch a government-backed non-fungible token (NFT) for the country that was initially proposed by former chancellor of the Exchequer, Rishi Sunak. Sunak had asked the Royal Mint to create an NFT for Britain as part of the government's ambition to make the UK a global hub for crypto-asset technology and investment. However, the project failed to meet its summer 2022 deadline and has been put on hold. The concept of the NFT for Britain remains vague, with the Royal Mint and Treasury not elaborating on what the NFTs would do or how they would be used. Some opponents of the plan questioned Sunak's priorities, given the cost of living crisis in the country. (Cointelegraph)
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UK Treasury Drops Plans for Royal Mint NFT
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Cointime August 10th News Express
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