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China’s largest broadcaster’s NFT series becomes a trilogy

NFT

forkast.news 19 April 2022 07:56, UTC
  
Reading time: ~2 m

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. 

See related article: China’s industry lobbies join NFT bashing chorus

Fast facts

  • 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. 
  • CCTV has ditched NFTs on Alibaba and Tencent as its third NFT series will be sold on Topholder marketplace, a partner of Chinese social media platform Weibo.
  • Topholder enables Weibo users to mint their social posts as NFTs. 
  • 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. 

See related article:  Chinese Communist Party paper to “develop” NFTs


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