China Daily NFT


As of 2021, cryptocurrency operations in all forms are known to be prohibited in China. However, the Chinese state newspaper China Daily has announced the creation of a platform for non-fungible tokens (NFTs).

The publication offered 2.813 million yuan (390,000 USD) to a third-party contractor for its development, with a mandatory condition that the main network must be capable of processing over 10,000 transactions per second.

The goal of the China Daily NFT platform is to “enhance the dissemination of Chinese civilization” through technologies such as the metaverse, virtual reality (VR), augmented reality (AR), mixed reality (MR), blockchain, assets (NFTs), big data, cloud computing, and other technologies. The platform’s specifications include support for pricing, trading, time-limited functions, and multi-currency settlements. It should also allow uploading, displaying, and managing digital collections, supporting multimedia formats and multiple collection types.

According to the document, collectibles sold on the platform can also be transferred to major platforms like OpenSea and Rarible.

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