China State-Backed NFT Trading Platform to Launch in January

China State-Backed NFT

A non-fungible token (NFT) marketplace called “China Digital Asset Trading Platform” is set to launch on January 1, 2023, according to state media outlet China Daily.

The platform was founded by a Beijing-based private firm, Huaban Digital Copyright Service Center, and two state-backed entities, China Technology Exchange and Art Exhibition China.

It has obtained a compliance license through China Technology Exchange and will offer NFT and digital copyrights trading services.

Institutions and individuals can register their digital assets and apply for copyright protection services through the platform, which is built on “Wenbao Chain,” a blockchain network operated by Art Exhibition China.

China banned cryptocurrency transactions in September 2021 and pledged to crack down on speculative NFT trading activities earlier in 2022.

The NFT trading platform is considering possible trading rules to curb speculative activities.


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