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China’s Largest News Agency Xinhua Launches NFT Collection

                                                            Die Xinhua News Agency, ein chinesisches staatliches Medienunternehmen, hat bekannt gegeben, dass es in Kürze Chinas erste „digitale Nachrichtensammelobjekte“ in Form von nicht fungiblen Token (NFTs) herausgeben wird.

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Xinhua introduces NFT collection

In an official announcement on Wednesday, Xinhua will release a total of 110,001 copies of unique photographs taken by journalists in 2021.

According to the announcement, the digital items will consist of 11 collections of 10,000 copies, each of which will be published with a special edition that will be available through the Xinhua mobile app on Friday, December 24, Christmas Eve.

The development indicates an increasing interest in virtual assets and BlockchainTechnology, despite several warnings from the People’s Bank of China (PBoC) about the potential risks associated with the asset class.

Xinhua’s NFT records historic moments in 2021

The media company pointed out that the collection had “special memory significance” and added that it “held many precious historical moments in 2021”.

Digital collectibles reportedly include the Chinese Communist Party’s celebrations for its 100th anniversary.

“It’s a special year-end summary written in the world of the metaverse,” the announcement reads.

Not the first time

Following the massive crackdown on digital assets by the Chinese government, the country’s cryptocurrency companies have held back. However, the NFT launch recently proposed by Xinhua is not the country’s first step into the digital collectibles space.

At the beginning of DeFi Summer 2.0, popular Chinese media company The South China Morning Post announced that it was creating a series of NFTs with a new token standard called “ARTIFACT,” which is supposedly intended to preserve historical assets on the blockchain.

China intensifies crackdown on crypto

Meanwhile, China continues to have a strict stance on crypto assets and all other activities related to it Cryptocurrenciesincluding mining operations.

A few weeks ago, a senior official was found guilty of assisting crypto mining companies. As a result, Xiao Yi was removed from office and expelled from the Communist Party.

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Source: Crypto News Deutsch

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