China Daily, a newspaper owned by the Chinese Communist Party, is set to create its metaverse and nonfungible tokens (NFTs) platform. The publication is awarding $390,000 to a third-party contractor to design the NFT platform. The platform aims to improve the spread of Chinese civilization through technologies such as the metaverse, VR, AR, blockchain, and NFTs. Developers must ensure the platform allows uploading, displaying, and managing digital collections, supporting various multimedia forms, multiple collection types, pricing, bidding, and limited-time functions. China Daily also plans to bridge its platform with global NFT platforms like OpenSea and Rarible.

China Daily Plans to Launch Its Own Metaverse and NFT Platform, Aiming to Bridge with Global Platforms


China Daily, an English-language newspaper owned by the Chinese Communist Party, is set to create its metaverse and nonfungible tokens (NFTs) platform. The publication announced that it is awarding 2.813 million yuan ($390,000) to a third-party contractor capable of designing the NFT platform within its budget specifications. The contractor can be "either a Chinese or foreign" firm with expertise in blockchain.


Interested contractors have until October 17 to submit their applications, and the chosen contractor must design the platform within three months. The primary goal of the China Daily NFT Platform is to "improve the spread of the influence of Chinese civilization" through technologies such as the "metaverse, virtual reality (VR), augmented reality (AR), mixed reality (MR), blockchain, irreplaceable digital assets (NFT), big data, cloud computing, and other technologies."


The selected blockchain firm must have a mainnet capable of handling over 10,000 transactions per second. The platform should allow "uploading, displaying, and managing digital collections" while supporting various multimedia forms and multiple collection types. Additionally, it must integrate features like pricing, bidding, and limited-time functions alongside multi-currency settlement.


The China Daily NFT Platform aims to issue digital collections that align with its project goals and audience groups. Beyond its own platform, the publication plans to select domestic and overseas mainstream NFT platforms suitable for issuing digital collections. Foreign platforms mentioned include OpenSea, Rarible, SuperRare, Foundation, etc.


China has banned all forms of cryptocurrency transactions since 2021. Although some blockchain entities still operate in the country, they face intense scrutiny from law enforcement officials.


(ZHIYUAN SUN, COINTELEGRAPH, 2023)