First National Digital Asset Marketplace in China

[{"selector":"#anim-515c7471-4d4b-4b75-9e6a-742794a02c13 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.93339755556636%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The first state-backed NFT marketplace in China is opening.

[{"selector":"#anim-d2fdc18e-3ff8-4ecf-a352-c26440af29db [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(10.022459440960967%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] the latest endorsement of a technology that's been legal grey in the country's tight cryptocurrency regulations.

[{"selector":"#anim-5f51b41b-067d-48e7-8f1c-ac92420c6ede [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(29.20192292067869%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The marketplace's inauguration will be celebrated in Beijing on Jan. 1.

[{"selector":"#anim-c1feca2a-0304-4bf0-8da6-83b1780f8249 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-46.36538466543183%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The report calls the platform's blockchain "China Cultural Protection Chain."

[{"selector":"#anim-1ca24bfc-d741-4249-86a0-7fec9d519286 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(9.695201246011827%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Chinese traders have been using NFTs for two years, but not like the rest of the globe.

[{"selector":"#anim-777c2e16-30c9-4550-ab13-bbae6e9300e5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(20.222026545095147%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to Chinese law, NFTs are called digital collectibles and cannot be bought with bitcoin.

[{"selector":"#anim-e9fa391c-8d14-4a11-860c-5d3b7cf210da [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(14.10005975881512%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Closed platforms trade digital art instead of open ones. Learn more