#Giveaway  on last slide

China To Launch 1st Regulated NFT Marketplace

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

China will launch its first regulated and censored non-fungible token marketplace (NFT),

-: FOLLOW US :-  @theinsaneapp

A sign of support for technology subject to legal grey areas within its notoriously strict regulations.

-: FOLLOW US :-  @theinsaneapp

On Jan. 1, a ceremony to celebrate the marketplace launch in Beijing will occur.

-: FOLLOW US :-  @theinsaneapp

According to China Daily, the platform will be managed by three private and state-owned entities: 

-: FOLLOW US :-  @theinsaneapp

China Technology Exchange, Art Exhibitions China, and Huban Digital. Both are government-backed.

-: FOLLOW US :-  @theinsaneapp

According to the report, China Cultural Protection Chain is the platform's underlying Blockchain.

-: FOLLOW US :-  @theinsaneapp

According to Chinese laws, NFTs cannot be bought with cryptocurrency in China. 

-: FOLLOW US :-  @theinsaneapp

They are referred to as digital collectibles.

-: FOLLOW US :-  @theinsaneapp

Also, digital artwork can be traded on highly-regulated platforms that are closed to the public. 

-: FOLLOW US :-  @theinsaneapp

A Chinese court ruled earlier this month that digital assets have the same property rights as items sold on eCommerce sites. 

#GIVEAWAY BY INSANE

Do you know that we give away around $250 USd in cash prizes every week?

Let’s grow together!