The UK Government has Suspended the Government NFT Plan for Britain

The UK government has decided to suspend the proposed plan for government-backed NFTs for Britain, which was announced by Prime Minister Rishi Sunak. Despite aiming to launch the project by the summer of 2022, it failed to meet the deadline. The concept of NFTs for Britain remains unclear as the Royal Mint and Treasury have not provided details on what the NFTs would entail and how they would be used. While the project is under review, critics such as Labour MP and Shadow Chancellor Rachel Reeves have called it disappointing and criticized the prioritization of NFTs.