Plans for a government backed non-fungible token (NFT) produced by the Royal Mint have been dropped, the Treasury has announced.
Rishi Sunak ordered the creation of a "NFT for Britain" that could be traded online, while chancellor in April 2022.
NFTs are "assets" in the digital world that can be bought and sold, but which have no physical form of their own.
The Royal Mint announced it was "not proceeding with the launch" following a consultation with the Treasury.
NFTs have been touted as the digital answer to collectables, but some sceptics fear they could be a bubble waiting to burst. They have been used as speculative assets and some have sold for millions of dollars.
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