China to Build Its Own NFT Industry Not Related to Crypto

China’s state-backed Blockchain Services Network saw daylight two years ago. Now, it plans to launch a platform that supports non-fungible tokens. The nation reiterated that it would not be involved in cryptocurrencies.

It is no secret that China wants crypto to remain as far as possible. This is evident in the ban on trading and mining. It will be different from crypto-related NFT transactions. Customers will be able to use the application programming interfaces to create and manage NFT user portals. Clients can only use the Chinese Yuan to purchase and pay service fees. This is a big difference from the crypto space where users must interact with some kind of digital asset. Local businesses refrain from using NFT terms. Instead, they refer to such tokens as “digital collectibles” because of compliance.
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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