China Daily Plans to Develop its Own Metaverse and NFT Platform
China Daily, an English-language newspaper affiliated with the Chinese Communist Party, has announced its intention to enter the world of non-fungible tokens (NFTs) and metaverse. The publication has set aside 2.813 million Yuan (approximately $390,000) to hire a third-party contractor capable of bringing its envisioned NFT platform to life.
The chosen blockchain firm must have the ability to handle 10,000 transactions per second on its mainnet. Both domestic and international blockchain specialists are welcome to apply for the project.
The deadline for applications is October 17, and the selected contractor will have three months to develop the platform. China Daily’s NFT Platform aims to promote Chinese civilization and will incorporate technologies such as virtual reality, augmented reality, mixed reality, blockchain, NFTs, big data, and cloud computing.
Platform Features and Integration with International NFT Platforms
The platform blueprint requires support for various functionalities including uploading, showcasing, managing digital collections, pricing, bidding, limited-time features, and transactions in multiple currencies. Additionally, the platform may expand its reach by integrating with international NFT platforms like OpenSea, Rarible, and SuperRare.
Chinese Blockchain Industry Continues Amid Crypto Clampdown
Although China implemented restrictions on crypto transactions in 2021, blockchain enterprises still operate under close scrutiny from law enforcement agencies.
Hot Take: China Daily’s Push into the Metaverse
China Daily’s plan to develop its own metaverse and NFT platform reflects the country’s growing interest in emerging technologies. By incorporating cutting-edge technologies such as virtual reality and blockchain into its platform, China Daily aims to showcase and promote Chinese civilization. The integration with international NFT platforms also indicates a desire to expand the platform’s reach globally. Despite China’s restrictions on crypto transactions, the country continues to foster innovation in the blockchain industry. China Daily’s foray into the metaverse is another example of China’s efforts to stay at the forefront of technological advancements.
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