Nft

Britanski trezor odustaje od planova za Royal Mint NFT

03/28/2023
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The United Kingdom has shelved plans to launch a government-backed “NFT for Britain,” which was initially proposed by crypto-friendly Prime Minister Rishi Sunak.

While serving as chancellor of the Exchequer, the equivalent of a chief financial minister, Sunak asked the Royal Mint in April 2022 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.”

The project was meant to be launched by the summer of 2022, but has ultimately failed to meet the deadline.

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Asked by the chair of the Treasury Select Committee whether there was still a plan for the Royal Mint to issue a nonfungible token on March 27, Economic Secretary of the Treasury Andrew Griffith noted that:

“U konsultacijama s HM Treasury, Kraljevska kovnica u ovom trenutku ne nastavlja s lansiranjem ne-zamjenjivog tokena, ali će ovaj prijedlog držati na razmatranju.”

Harriet Baldwin, the chair of the Treasury Select Committee who posed the question in Parliament, was later quoted in a March 26 BBC report saying:

“Još nismo vidjeli puno dokaza da bi naši birači trebali staviti svoj novac u ove špekulativne tokene osim ako nisu spremni izgubiti sav svoj novac.”

“So perhaps that is why the Royal Mint has made this decision in conjunction with the Treasury,” she added.

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The NFT for Britain concept ultimately appears to be quite vague, as the Royal Mint and Treasury haven’t elaborated on what the NFTs would do and how they would be used.

At the time of the initial announcement, it was simply stated that more details would be announced “soon,” while opponents of the plan, such as Labor MP and Shadow Chancellor Rachel Reeves also questioned Sunak’s priorities, calling it “hopeless.”

“The country is facing a severe cost of living crisis made worse by this chancellor’s choices. This is his priority right now. Hopeless,” she said.

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