China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, wants to create its own metaverse and non-fungible tokens (NFTs) platform.
According to a recent announcement, China Daily is awarding 2.813 million yuan ($390,000) to a third-party contractor who can design the NFT platform within its budget specifications. The contractor could be “a Chinese or a foreign” company specializing in blockchain, China Daily writes. In addition, the mainnet of the blockchain company that wins the contract must be able to process more than 10,000 transactions per second.
Contractors have until October 17 to submit their applications and design the platform within three months. The aim of the China Daily NFT Platform is to “enhance the spread of the influence of Chinese civilization” through means such as the use of the “metaverse, virtual reality (VR), augmented reality (AR), mixed reality ( AR) and Blockchain, irreplaceable digital assets (NFT), big data, cloud computing and other technologies.”
Developers stated that the platform should enable “uploading, viewing, and managing digital collections” and support multimedia forms and multiple types of collections. Prices, bids, and limited-time features should be integrated into the NFT platform in addition to multi-currency settlement.
“In addition to its own platform, based on the project goals and target groups, domestic and foreign mainstream NFT platforms suitable for issuing digital collections will be selected to issue digital NFT collections. Foreign platforms include but are not limited to OpenSea, Rarible, SuperRare, Foundation, etc.”
China has banned all forms of cryptocurrency transactions since 2021. Although some blockchain entities still operate in the country, they often face intense scrutiny from law enforcement officials.
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