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The UK government scraps plans for a national NFT

The plans were first announced in April 2022.

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Back in April 2022, then Chancellor of the Exchequer Rishi Sunak directed the Royal Mint to create a state-backed NFT For Britain in an attempt to show the government's commitment to the future. However, nearly a year after those plans were first announced and following a promotion for Rishi Sunak, it appears there are no current plans for a NFT For Britain.

This was confirmed by the Economic Secretary Andrew Griffith, who said that while the Royal Mint isn't proceeding with the plan for the NFT, the idea will be kept under review, meaning it hasn't been entirely scrapped as yet.

A specific reason wasn't given for the ditching of the NFT plan, but as Rishi Sunak remains a strong supporter of crypto and blockchain technology, we could very well see a return of this NFT For Britain concept soon enough.

The UK government scraps plans for a national NFT
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