UK government drops plans for NFT made by Royal Mint

The UK government has dropped its plans to produce a non-fungible token for sale through the Royal Mint, just under a year after it first announced the project.

There is little to show for almost 12 months of work. The Mint did not produce a visualisation of what the proposed non-fungible token would look like, or any technical explanation of how it would work, what it would offer users, and what blockchain infrastructure it would be built on.

Since then, a slow-motion crisis has embroiled the sector, with FTX, Celsius, Voyager and Genesis filing for bankruptcy alongside crypto-focused banks Silvergate and Signature and Binance, the leading crypto exchange, facing an investigation from US regulators.