UK Government Plans to Create an NFT

The government of the United Kingdom has announced intentions to create a non-fungible token (NFT) to demonstrate its commitment to a “forward-thinking approach” to cryptocurrency technology and investment.

Chancellor of the Exchequer Rishi Sunak asked the maker of British coins Royal Mint to produce an NFT in the coming months. It was revealed by John Glenn, minister and economic secretary to the Treasury, who spoke on Monday at the Innovate Finance Global Summit.

This will serve as a “emblem of the forward-thinking approach we are committed to follow,” Glen added.

The statement also includes the government’s vision for stablecoins and distributed ledger technology as part of its financial services plan for the United Kingdom.