As per reports, the United Kingdom will momentarily pause its government-based “NFT for Britain,” campaign which was put forward by Rishi Sunak, a Prime minister supporting crypto, stated Cointelegraph.
Sources revealed that in April 2022, when Sunak was a chancellor of the Exchequer, he proposed Royal Mint for creating “NFT for Britain” and making it as government’s “ambition to make the UK a global hub for crypto-asset technology and investment,” added Cointelegraph.
As reported by Cointelegraph, this project was supposed to be launched by last year summer, which ultimately didn’t work out. Reportedly, “In consultation with HM Treasury, the Royal Mint is not proceeding with the launch of a Non-Fungible Token at this time but will keep this proposal under review,” Andrew Griffith, Economic Secretary of the Treasury commented.
It is expected that the “NFT for Britain” campaign might be unclear because the Uk treasury and Royal Mint have not given any detailed information about the working of these NFTs, Cointelegraph highlighted. Furthermore, during the initial announcement, Sunak stated that the details about this campaign will be announced “soon”, Cointelegraph concluded.
(With insights from Cointelegraph)