Is China Daily, a state-owned English-language newspaper under the Chinese Communist Party’s Publicity Department, venturing into the world of non-fungible tokens (NFTs) and metaverse? If recent reports are to be believed, the answer is a resounding yes. With an ambitious plan to construct its own NFT platform and metaverse, China Daily is looking to make a significant mark in the digital sphere.
Unveiling a Unique NFT Platform
According to recent announcements, China Daily is prepared to award a sum of 2.813 million Yuan (equivalent to $390,000) to a third-party contractor capable of designing an NFT platform China Daily envisions, within the given budget constraints. The potential contractor can be a domestic or international firm, as long as they specialize in blockchain technology.
There are some prerequisites for the blockchain firm that secures the contract. Primarily, the firm’s mainnet should have the capacity to handle more than 10,000 transactions per second. The deadline for submitting the application is set for October 17, and the chosen contractor will have a three-month timeline to design the platform.
The Goal of China Daily’s NFT Platform
The primary objective of the NFT platform China Daily aims to establish is to amplify the global influence of Chinese civilization. To achieve this, the platform will utilize advanced technologies such as metaverse, virtual reality (VR), augmented reality (AR), mixed reality (MR), blockchain, non-replaceable digital assets (NFTs), big data, cloud computing, and others.
Developers have outlined specific requirements for the platform. It should allow the upload, display, and management of digital collections and support various forms of multimedia and collection types. The integration of pricing, bidding, and time-limited functions is also crucial, along with multi-currency settlement.
China’s Stance on Cryptocurrencies
It is important to note that China has prohibited all forms of cryptocurrency transactions since 2021. Blockchain entities continue to operate within the country but often face intense scrutiny from law enforcement officials. Despite this, the decision by China Daily to venture into the NFT space is a bold move that may signal a shift in China’s stance on digital currencies.
As we witness the evolution of the digital landscape, staying informed and updated is crucial. Platforms like cryptoview.io can be a valuable resource for tracking developments in the crypto world.
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