China Party People’s Daily launches its own non-fungible token (NFT) gallery
The People.cn online division of the Chinese Communist Party’s People’s Daily has launched its own gallery of non-fungible tokens (NFTs). Representatives of the organization also hinted that they would probably start trading in cryptocurrency assets.
Local media noted that People.cn exclusively uses the wording “Digital Collectibles” instead of talking about non-fungible tokens. Chinese companies are trying not to use the term NFT, fearing pressure from the authorities, while continuing to actively monitor the industry.
According to an official press release, the Lingjing Folk Art Museum has launched a range of new services, including copyright protection, digital publishing, art digitization, and blockchain certification.
The post also noted that the new gallery is exploring the possibility of launching a trading platform for digital collections. The company emphasized that this could be the next stage of development in this direction. Now specialists are busy studying the way to carry out transactions and use channels to bring works of art to the market.
Chinese media noted that at the moment, the gallery displays local works of art by popular artists. However, the price is not indicated next to them and users do not have the opportunity to purchase works.
Many users of social networks and analysts were very surprised by this news, because earlier the Chinese authorities fiercely criticized the cryptocurrency industry and, in particular, the NFT sector. They motivated this by the fact that the industry does not bring anything good for society. According to government authorities, tokens create an artificial hype and are used only for speculation, which is very risky for investors.