Chinese government-owned newspaper to launch NFT platform
China Daily, a renowned English-language newspaper associated with the Publicity Department of the Chinese Communist Party, has announced its ambitious plans to create its own metaverse and NFT platform.
In a recent disclosure, the publication revealed that it has allocated 2.813 million Yuan (about $390,000) to hire a competent third-party contractor who can bring its envisioned NFT platform to life while staying within budgetary constraints.
Contrary to popular belief, China Daily is open to both domestic and international blockchain specialists. However, the chosen blockchain firm must have the capability to handle 10,000 transactions per second on its mainnet.
Prospective contractors have until October 17 to submit their applications, and once selected, they will have three months to develop the platform. According to China Daily, the goal of its NFT Platform is to enhance the influence and impact of Chinese civilization.
The platform will integrate various cutting-edge technologies, including virtual reality, augmented reality, mixed reality, blockchain, NFTs, big data, and cloud computing.
The platform’s blueprint requires it to support a wide range of functionalities, such as uploading, showcasing, and managing diverse digital collections, as well as incorporating pricing, bidding, and limited-time features. Additionally, the infrastructure will enable transactions in multiple currencies.
To expand the platform’s reach, digital collections may also be available on leading international NFT platforms like OpenSea, Rarible, and SuperRare.
Although China has implemented strict regulations on crypto transactions in 2021, blockchain enterprises still operate under the scrutiny of law enforcement agencies in the country.
