The UK has shelved plans to launch a government-backed "NFT for Britain" that was originally proposed by crypto-friendly Prime Minister Rishi Sunak.
The launch of the project was scheduled for the summer of 2022, but in the end they did not meet the deadline (yes, already 2023).
Responding to a question from the Chairman of the Treasury Select Committee on March 27 about whether there was still a plan for the Royal Mint to issue an NFT token, Economic Secretary of the Treasury Andrew Griffith noted the following:
“In agreement with HM Treasury, The Royal Mint is not currently proceeding with the issuance of an NFT token, but will keep this proposal under review.”
Harriet Baldwin, chair of the Treasury Select Committee who asked the question in Parliament, was later quoted in a BBC report on 26 March as saying:
"We have yet to see evidence that our constituents should invest their money in these speculative tokens unless they are prepared to lose all their money. This may be why the Royal Mint made this decision in conjunction with the Treasury," she added.
The concept of “NFT for Britain” ultimately appears to be quite vague, as the Royal Mint and the Treasury have not specified what NFTs will do or how they will be used.
In short, it is quite possible that we are seeing a typical picture in the style: “We won’t build anything until there’s a bull run, and then we’ll build something on the bulls’ knees and sell the hamsters 0.1 Ether” :D. Such thoughts are prompted by the lack of concept and benefits of NFTs themselves from the Kingdom, which was not presented either before the summer of 2022 or now, and the idea migrated from the roadmap in words to “keep in sight.”
Well...there is no roadmap, there is no benefit...100x soon???