Author : Zack

Date : Jan 03,2023

A metaverse will be included into the platform

Non-fungible tokens are generally recognized despite the nation's ban on cryptocurrencies last year.

The "China Digital Asset Trading Platform," a secondary trading market for digital collectibles, will launch its first state-run NFT marketplace in the next new year.

Beijing will hold a ceremony on January 1 to officially open the new market, which will be supported by the privately run Huaban Digital Copyright Service Center and the government-funded China Technology Exchange and China Cultural Relics Exchange Center.

A significant limitation of the platform is the absence of Bitcoin or Ethereum choices.

Digital copyrights, property rights, and NFTs will be among the main trading assets on the new blockchain, known as the China Cultural Protection Chain.

A metaverse will be included into the platform, and the protection chain also includes crypto and NFT registration, as well as rights confirmation for digital assets.

Although cryptocurrencies were outlawed in China last year, NFTs are widely recognized there.

The nation also unveiled the Blockchain Services Network this year, which is a "shared infrastructure for the deployment and operation of blockchain applications globally" and is endorsed by the government.