China Daily, a well-known English-language newspaper affiliated with the Publicity Department of the Chinese Communist Party, is venturing into the world of non-fungible tokens (NFTs) and metaverse. The publication has disclosed plans to develop its own NFT platform with a budget of 2.813 million Yuan (approximately $390,000).

The chosen blockchain firm for the NFT platform must be capable of handling 10,000 transactions per second. Both domestic and international blockchain experts are encouraged to apply, with a deadline of October 17 for submissions. Once selected, the contractor will have three months to bring the platform to life.

The goal of China Daily’s NFT platform is to amplify the influence of Chinese civilization through cutting-edge technologies such as virtual reality, augmented reality, mixed reality, blockchain, NFTs, big data, and cloud computing. The platform will support a wide range of functionalities, including digital collection management, pricing, bidding, limited-time features, and multi-currency transactions.

In addition to the domestic market, digital collections from the platform may also be showcased on leading international NFT platforms like OpenSea, Rarible, and SuperRare. Despite China’s restrictions on crypto transactions in 2021, blockchain enterprises are still operating under strict government oversight.

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