NFTs are an integral part of China’s strategy to combat copyright infringement and internet piracy. The East Asian nation has seen a rise in the amount of piracy committed online, particularly in the form of NFTs made from pirated digital content. In response, the Chinese government has launched a new
Cyberspace Administration has taken down more than 12,000 social media profiles. As a result of the interactions with 500 or more websites, 105 of them were shut down. When other countries looked to be jumping on the crypto bandwagon, China made a decision to completely outlaw it. The nation ruthlessly
The platform’s commercial potential is reported to have been harmed by prohibitions. It was built by Tencent’s Platform and Content Group (PCG). According to a report by Chinese news agency Jiemian, cited by the South China Morning Post, Shenzhen-based technology company Tencent is ready to shut down its NFT platform
China gets hit hard by different COVID variants. Shanghai plans to invest largely into the metaverse, smart terminals, and energy resources. Numerous subsidiaries to be allotted for Metaverse firms in Shanghai. Shanghai, the largest city of China, has now made up new plans to somehow regain the lost economy. Now,
According to current figures, the asking sum totals $202,806. Claims have been made that the Shanghai National Police database was hacked. An unidentified hacker allegedly took approximately 23 terabytes of data of one billion Chinese residents from a Shanghai police database. According to experts, this would be one of the
China’s multinational tech giant, Tencent is testing to bring in NFTs. A virtual room music zone is created with avatars in the QQ Music app. NFTs are growing and creating a bright digital future in China. Tencent Music is a multinational technology and entertainment music company in China. It is
According to a recent policy change, the most popular Chinese social media platform, WeChat, now prohibits using any accounts that give access to crypto or NFT services. Cryptocurrency and NFT trading, issuing, and financing accounts will fall under the “illegal business” category under the new standards. The policy states: “Accounts
Colin Wu, a China crypto reporter, said the Chinese government could implement even stronger restrictions or even ban stablecoins. Due to the collapse of the Terra network, China’s media source, the Economic Daily, has indicated that the Chinese government may impose even tighter restrictions on cryptocurrencies. The source described how
China is one of the largest crypto markets but it had a cold war with cryptocurrency. The result of this In September 2021, The People’s Bank of China warned that digital currency related activities are illegal and cryptocurrency users are considered as criminals. The government is seriously concerned about the
There’s a famous six-minute movie here called ‘Voices of April.’ It is irretrievable when an NFT is coined or uploaded to the blockchain. A rising number of Shanghai citizens turn to NFTs to vent their anger after a series of covid-19 restrictions. The non-fungible tokens’ key selling point is that
