China’s State Media to Mint NFT Despite Cryptocurrency Crush

China’s major state media launched their NFT. Xinhua News Corporation has announced that it will publish a series of images from the magazine called the News Digital Collection. The company will use magazine images on the blockchain network.

NFT is a digital hash stored in the blockchain. Allows any artwork, music and virtual assets to have different tokens. They are important for verifying ownership of content and errors, and allow artists to sell materials such as digital art. This year, NFT received a lot of media attention as athletes, artists and performers tried it out.

Various media recorded images in the Xinhua NFT collection. The selected photos reflect important events from 2021. One of the key events is the 100th Anniversary of the Chinese Communist Party.

Xinhua joins NFT despite cryptocurrency ban in China
According to reports, the media will release the virtual asset on December 24 at 12:00 UTC. You will print ten thousand copies of all 11 images on the Tencent network service. In addition, every NFT can be accessed free of charge.

Xinhua is the only news company in China to enter the NFT space. But most stations around the world experiment with it all the time.

The launch of NFT by Xinhua coincides with China’s toughest anti-crypto campaign. Chinese authorities recently banned Bitcoin mining across the country. In addition, it was decided that all activities related to cryptocurrencies were illegal.

Xinhua’s digital assets could fall into a gray area from a legal perspective. China does not make NFT illegal. But their cryptocurrency relationship may represent their illegality.

However, Xinhua is a state structure. In this way, you can enjoy immunity. The ban could affect individual NFTs operated on networks such as Cardano or Ether.

Xinhua NFT is different from other virtual assets and monetized assets. For example, you can freely rely on and rely on regulated network services.

Tencent Holdings Ltd. and Ant Group Co. can be approved to continue their blockchain activity. Both companies present NFT on their network. Their disclosure comes amid strict rules governing cryptocurrency activity in China. The digital news collector will work on the Tencent blockchain cloud. They contain a unique identifier integrated in them.

Record the story
China’s state news agency is not alone in its interest in non-ferrous metals. Xinhua joins other news organizations in digital artifact detection.

They also started using blockchain to mark important events. The news channel sold its first digital asset earlier this year. The AP then sold the NFT in its most iconic photos to commemorate its 175th anniversary.

The strategy of capturing monumental moments in NFT can change games around the world. And once everything is in order, China will become the owner through its state station.