Reports state that the “NFT for Britain” that current British Prime Minister Rishi Sunak promised to implement when he was chancellor will still be carried out.
Insiders claim that Mr. Sunak’s NFT plan has not been abandoned despite the fact that it is six months overdue and there have been no updates on the project, despite the fact that he is now the prime minister, according to a report by inews on October 27.
While Mr. Sunak was still serving as chancellor, he declared in April that the Treasury would join the then-current NFT craze, which saw a number of businesses and famous people create collections of crypto-art.
The Treasury stated at the time of the announcement that Sunak had “asked the Royal Mint to create an NFT” that would be made available by the summer in order to show the “forward-looking approach we are determined to take towards crypto assets in the UK.”
The Royal Mint, which told inews it is “continuing to develop our first NFT range” but did not specify what that would entail, is still in charge of coming up with the NFT. According to a company spokesperson, “we will share more details in due course.”
The Treasury Department has declined to comment on the status of the NFT project at this time, but sources claim that it is still being worked on and has not been covertly abandoned. The Royal Mint is anticipated to cover the project’s expenses “entirely out of its own revenues.”