The Chinese government seems to be wary of non-fungible tokens (NFTs).
Samus China Morning Post coverageAccording to the media China Securities Bulletin issued by Xinhua News Agency, “It is common sense that NFT transactions are a big bubble.” The Xinhua media is believed to convey the views of the Chinese government.
He pointed out that “NFT trading is a big bubble” and that most NFT buyers trade only for financial motivation, not for visual evaluation of the work.
“If the market enthusiasm cools and the hype goes away, the value of many of these weird NFTs will be significantly reduced,” he wrote.
This is similar to the June People’s Daily claim, which NFTs and above said were “hype and could lead to security concerns.”
However, on the other hand, major Chinese tech companies Tencent and Alibaba are pursuing NFT-themed R & D initiatives.
Tencent last month attempted to integrate NFTs with a music streaming platform.
Alibaba Group, a major Chinese e-commerce company, has launched a new non-fungible token (NFT) marketplace.
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