What Occurred: On Oct. 23, Chinese journalist Colin Wu reported that regulatory authorities in China had “strengthened the supervision of NFTs” and have been questioning a number of web firms working NFT platforms within the area.
Nonetheless, Chinese Web firms are actively coming into the NFT area. Tencent and Alibaba have each opened NFT buying and selling platforms. https://t.co/kZtLFo5rEB, McDonald’s China, and DHL China have simply issued their first NFTs.
— Wu Blockchain (@WuBlockchain) October 23, 2021
On Oct. 8, McDonald’s China released its first NFT inventive work titled “Large Mac Rubik’s Dice” in commemoration of its 31st anniversary of working in mainland China.
Final week, DHL China partnered with VeChain (CRYPTO: VET) to permit customers to mine personalized DHL mascots as NFTs.
On Monday, representatives from Tencent and Alibaba responded to Wu stating that their enterprise has “nothing to do with NFTs.”
Wu reported the phrase “NFT” on Tencent’s Phantom Core and Alibaba’s Ant Pill had been changed with the phrases “digital collections.”
“We firmly oppose all types of digital assortment hype, and resolutely resist any type of unlawful actions within the title of digital collections, which are literally digital foreign money-associated actions; resolutely resist any type of digital assortment commodity worth malicious hype, use technical means to make sure that commodity costs replicate the affordable market demand; resolutely resist any type of unlawful actions reminiscent of fairness transactions and standardized contract transactions in digital collections, and oppose the monetary productization of digital collections,” mentioned a spokesperson for Alibaba AntChain to Colin Wu in a statement.
Picture by Markus Winkler on Unsplash