Friday, 24 March, 2023

NFTs are causing FOMO among China's tech industry

<p>China has banned NFT trade with cryptocurrencies. Many in the cryptocurrency industry believe that the announcement signals the end of NFT development in the country. Some Chinese tech behemoths have expanded their NFT ambitions beyond China, such as TikTok, the ByteDance-owned short video platform, which released its first NFT collection on Ethereum in October. In March 2021, Meitu, a Chinese selfie app,&nbsp;paid $40 M for the first tranche of bitcoins and ethers.<br /> &nbsp;</p>