China Daily, affiliated with the Chinese Communist Party’s publicity department, has announced plans to develop its own metaverse and NFT platform.
China Daily, a prominent English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has declared its intention to venture into the world of non-fungible tokens (NFTs) and metaverse.
As per a recent disclosure, the publication is setting aside 2.813 million yuan (equivalent to $390,000) for a competent third-party contractor who can bring the envisioned NFT platform to life, taking into account their budgetary constraints.
While many may prefer domestic expertise, China Daily welcomes both domestic and international blockchain specialists. The requirement for the mainnet of the chosen blockchain company is that it must have the ability to manage 10,000 transactions per second.
Potential contractors will be racing against the clock, with an October 17 deadline to submit their applications. Once on board, they have a period of three months to manifest the platform. China Daily’s NFT platform aims to expand the reach and resonance of Chinese civilization, the publication said.
The platform will leverage a confluence of cutting-edge technologies – from the realms of virtual reality, augmented reality and mixed reality to the transformative capabilities of blockchain, NFTs, big data and cloud computing.
The platform blueprint requires support for a broad spectrum of functionalities – from uploading, presenting and managing various digital collections to embedding prices, bids and temporary functions. Furthermore, the envisioned infrastructure will facilitate multi-currency transactions.
Expanding the platform’s reach, digital collections can also find a home on leading international NFT platforms such as OpenSea, Rarible and SuperRare.
While China restricted crypto transactions in 2021, blockchain ventures continue to exist, albeit under the watchful eyes of the country’s law enforcement agencies.
