State-owned broadcaster China Central Television (CCTV)’s online branch will launch a new non-fungible token (NFT) series on Thursday to celebrate the seventh China Space Day.
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- CCTV’s first NFT collection was issued for free during Chinese New Year on Tencent’s blockchain.
- The second batch was issued on Alibaba’s blockchain to commemorate the February Lantern Festival, and brought in 717,600 yuan (US$112,626) in primary sales.
- That series went on to attract high-priced bids on the resale market despite state media’s warnings against speculation in the NFT market.
- Last week, China’s banking and securities industries drew a red line around digital collectibles by urging its member organizations to curb the wave of “financialization and securitization” of NFTs.
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