People’s Daily, the official publication of the Chinese Communist Party (CCP), is planning to make NFTs featuring traditional and modern Chinese paintings, reported Forkast.
The media outfit will team up with the China Arts and Entertainment Group in promoting local works.
The development comes months after People’s Daily launched its own NFT marketplace with free tokens up for grabs. It hasn’t sold NFTs for profit and has not disclosed the blockchain it’s using, according to the report.
The Chinese government has its eyes on NFTs’ potential use for money laundering, with regulators planning “severe punishment” for illegal fundraising with digital assets. The CCP, through another media mouthpiece, has also called for regulation on NFTs.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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