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China Is Building Its Own NFT Behind the Great Firewall

January 15, 2022
Source: pymnts.com pymnts.com
News Snapshot:
Nonfungible tokens (NFTs) are so hot, China can’t ignore them anymore. So, it’s building a more controllable platform for digital collectables. And only the digital yuan is welcome. NFTs are platforms for media like art and videos, which allow the creator to make an immutable — unchangeable — token that can prove its own provenance. Like Mike “Beeple” Winklemann’s $69 million collage, collectable avatars like CryptoPunks, and the NBA’s Top Shots — short video highlight reels that are basically digital trading cards. See also: What Are NFTs and Why Are They Crypto’s Newest ‘Next Big Thing? ’ With the total...
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