According to the news from China’s local sources Chinese government will officially activate its first platform for non-tradable token (NFT) trading on the first day of 2023.
National NFT marketplace, government-owned Art Exhibitions Chinawill be created with the contributions of the Chinese Technology Exchange and the private company Huban Digital.
new NFT platform will not only be limited to the sale of digital artworks. New marketplace by sources “protection of copyrights” will take an active role in An unnamed official stated that the new state-owned platform aims to prevent excessive speculation that we often encounter in NFT markets.
Yu Jianing, the country’s well-known crypto and metaverse expert, said the following after the news:
“There are huge uncertainties in the digital asset industry. Regulations, controls and policies are constantly changing. The presence of government in this new area places a huge security responsibility on them.”
In China, a Far Eastern country, a precedent decision was made last month regarding digital artworks. Hangzhou Internet Court, NFTs at the end of November “scarce virtual assets that can be owned” defined as.
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