China’s first national NFT market to launch next week

China is planning to create its first regulated market for non-fungible trading tokens (NFTs) on January 1, 2023.

as of 28 December sina news storyThe new NFT platform was developed by the state-owned Chinese technology business, the state-owned Art Exhibition China, and the private enterprise Huban Digital Copyrights Ltd. It will act as a secondary market for the exchange of NFTs.

China’s NFT Landscape

In China, NFTs have gained popularity as a way to authenticate and sell rare digital collectibles. market for NFT in China It has grown significantly in recent years, with several high-profile sales taking place on various platforms.

However, the lack of a centralized marketplace makes it difficult for buyers and sellers to quickly find and trade NFTs, and there are concerns about the authenticity and ownership of some NFTs.

In an effort to address these issues, the Chinese government announced in 2021 that it was working on developing a national NFT platform. The marketplace aims to provide a centralized platform for buying and selling NFTs and a way to better regulate the NFT market and protect the rights of creators and consumers.

platform launch

China’s national NFT platform will be launched in January. This development is expected to have a significant impact on the NFT market in China. It will be easier for buyers and sellers to find and trade NFTs, and with greater assurance of authenticity and ownership.

The platform aims to facilitate the trading of non-fungible tokens (NFTs) and the transfer of copyright for digital assets. It also hopes to control and prevent excessive speculation in the NFT secondary markets.

Yu Jianying, an expert in digital assets and the metaverse development in chinaRecently shared his views on the industry in an interview. He noted that the digital asset sector is still in its nascent stage and many parts such as regulations and supervisory processes need to be revised.

There is a lot of uncertainty in this sector as a result of the young market. Yu Jianying also stressed the importance of platforms playing the role of listing and trading digital assets. He noted that digital assets are more vulnerable to regulatory difficulties including digital copyright and Intellectual Property Rights.


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