The first state-backed NFT marketplace in China is opening.
the latest endorsement of a technology that's been legal grey in the country's tight cryptocurrency regulations.
The marketplace's inauguration will be celebrated in Beijing on Jan. 1.
The report calls the platform's blockchain "China Cultural Protection Chain."
Chinese traders have been using NFTs for two years, but not like the rest of the globe.
According to Chinese law, NFTs are called digital collectibles and cannot be bought with bitcoin.
Closed platforms trade digital art instead of open ones.