While China haven’t labeled NFTs illegal, it’s a grey area where any participant must tread carefully to avoid unwanted scrutiny. Domestic firms such as Tencent Holdings Ltd. and Ant Group Co. have issued NFTs on their tightly-controlled blockchain platforms. Domestic media had warned of “blind speculation” in NFTs.
Xinhua’s “digital news collectibles” will have unique identification and ownership information on a blockchain from Tencent Cloud, and are of “special commemorative significance and collection value,” . Tencent and Ant also previously changed the name for NFTs on their platforms to “digital collectibles. Does this mean that it is possible to use digital collectibles for the development of nft in the future? Is it an opportunity?
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