The Chancallor has told the mint to issue the NFT by the summer as the government examines whether it could borrow money using blockchain technology.
Speaking at a financial technology conference in London Monday, Mr Sunak’s deputy and the Economic Secretary to the Treasury John Glenn, said:
“I am announcing today that the Chancellor has asked the Royal Mint to create a non-fungible token – an NFT to be issued by the Summer, an emblem of the forward-looking approach we are determined to take.”
The Tory minister there would be “more details available very soon”.
NFTs are unique units of digital data that use the same “blockchain” technology that is behind cryptocurrencies like Bitcoin.
The tokens have in recent years become used as a speculative asset and have been implicated in a number of scams.