Can not changed tokens (NFTs), a series of mid-April by Chinese industry association, was the subject of a warning against potential financial dangers associated with them.
China’s banking, finance and securities, according to Internet provider, NFTs should not be used to create and securitized products should be exchanged with crypto currency. So how do the Chinese technology companies rely NFT madness?
How to trust the technology giants NFT madness?
NFTs, although the regulatory authority of the industry group, continues to have an impact on decision-makers and are considered seriously. Crypto money, many people in the industry, believes the announcement represented the end of the road for the development of NFTs in China.
But on the contrary, according to a report published by Tech Crunch May 4, China’s technology giant showed a growing curiosity level.
Given the crypto-currency trading is prohibited in China, NFTs can only function in a limited capacity in the country. Technology firms, many efforts to distinguish nft’n the financial and operational status of the speculative character, and instead refers to them as NFTs aim to highlight the ownership and authenticity to create them “Digital collection products” As the call.
NFTs allow growth in the creative and cultural sector
According to a statement of financial associations, the importance of NFTs, the creative and cultural industries lies in their ability to stimulate the expansion.
Etherea or other publicly printed in light chains and unlike NFTs traded with crypto currency in the open market, digital collections published in China, local tech printed in permitted block chain managed by giants and often sold through the channels of these companies.