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

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