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China’s Sichuan Province Launches NFT Marketplace
The cultural and tourism authority in Southwest China’s Sichuan province built a non-fungible token (NFT) trading platform to “encourage the music industry to actively adopt modern technology.”
Muskaan T.
7:45 11th Apr, 2022

The Sichuan government Thursday said a number of music companies are using blockchain technology to safeguard their copyright.

Sichuan has emerged as a hotbed of modern Chinese music.

Many companies in China refer to NFTs as “digital collectibles” following state media’s denouncement of the market frenzy.

However, the Sichuan authority did not shy away from using the term “NFT” in its Thursday statement.

The NFT platform project was outsourced to a local blockchain company.

Meanwhile, some Chinese state media are also building their own platforms.

Shandong province’s state-run television station last week said it plans to build a “digital collectibles” trading platform.

The Economic Daily, a mouthpiece of the Chinese Communist Party, called for stricter regulation of “digital collectibles” last week.


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