China Daily, an English-language newspaper under the Chinese Communist Party, is venturing into the metaverse and nonfungible token (NFT) realm. The newspaper is allocating 2.813 million Chinese yuan (approximately $390,000) to a third-party contractor to develop the NFT platform according to budget specifications. The contractor, whether Chinese or foreign, must specialise in blockchain and possess a mainnet capable of handling 10,000 transactions per second. The aim is to utilise the NFT platform to enhance the dissemination of Chinese civilisation through the metaverse, virtual reality (VR), augmented reality (AR), mixed reality, and blockchain technologies. The platform should facilitate uploading, displaying, and managing digital collections, support multimedia forms and multiple collection types, and integrate pricing, bidding, limited-time functions, and multi-currency settlement. Additionally, selected mainstream NFT platforms will be utilised for issuing digital collections, including platforms like OpenSea, Rarible, SuperRare, and Foundation. Despite China’s cryptocurrency ban, blockchain entities face scrutiny but continue to operate.
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