China Daily, a well-known English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has unveiled its ambitious plans to create its own metaverse and NFT platform.
In a recent announcement, the publication disclosed that it is allocating 2.813 million Yuan (approximately $390,000) to hire a skilled third-party contractor to develop its envisioned NFT platform, while adhering to budgetary constraints.
Despite the assumption of a preference for local expertise, China Daily is open to both domestic and international blockchain specialists. The selected blockchain firm must have the capability to handle 10,000 transactions per second on its mainnet.
Interested contractors have until October 17 to submit their applications, with a three-month timeline for the development of the platform once selected. The goal of China Daily’s NFT Platform is to showcase and promote Chinese culture on a global scale.
The platform will integrate various cutting-edge technologies, including virtual reality, augmented reality, mixed reality, blockchain, NFTs, big data, and cloud computing. It will support a wide range of features such as digital collection management, pricing, bidding, and limited-time offers, as well as facilitate transactions in multiple currencies.
Furthermore, digital collections from the platform may also be featured on popular international NFT platforms like OpenSea, Rarible, and SuperRare.
Despite China’s crackdown on crypto transactions in 2021, blockchain enterprises continue to operate under the watchful eye of law enforcement agencies in the country.
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