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Digital collectibles in mainland China should be considered digital publications that need to be censored before public distribution, National Press and Publication Administration blockchain copyright director Liu Tianjian said.
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Fast facts
- “Digital collectibles” is a phrase used in China to avoid reference to non-fungible tokens (NFTs) due to state media denouncing speculative activities surrounding NFTs.
- Digital collectibles “must align with the country’s core values,” Liu said in an article published by the People’s Daily’s NFT gallery on Thursday.
- Digital collectibles include art, music, animation, games, film, television and other original creative works, and must be categorized as illegal publications unless they are reviewed before hitting markets, according to Liu.
- Liu said Chinese digital collectibles on secondary markets can fall on the “red line” of financialization.
- People’s Daily recently published an opinion article that supported the efficiency of NFTs in digital marketing, cultural content and creative industries.
See related article: China-run media outlet criticizes NFT platform as a payment risk