The UK has shelved plans to launch a government-backed “NFT for Britain,” which was initially proposed by crypto-friendly Prime Minister Rishi Sunak.

Whereas serving as chancellor of the Exchequer, the equal of a chief monetary minister, Sunak requested the Royal Mint in April 2022 to create an “NFT for Britain” as a part of the federal government’s “ambition to make the UK a world hub for crypto-asset know-how and funding.”