China’s first national NFT marketplace to launch next week
According to a report published by local news outlet Sina News on Dec 28, China will launch its first regulated platform for nonfungible token (NFT) trading on Jan. 1, 2023. The entity, which acts as a secondary market for the exchange of NFTs, was created by the state-owned Chinese Technology Exchange, the state-owned Art Exhibitions China, and Huban Digital Copyrights Ltd, a private corporate entity.
In addition to NFTs, the platform will also facilitate the trading of copyrights related to digital assets. The project aims to “regulate and avoid the excessive speculation in secondary [NFT] markets,” as stated by a person familiar with the matter.