{"id":15504,"date":"2021-12-22T08:46:26","date_gmt":"2021-12-22T07:46:26","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15504"},"modified":"2021-12-22T08:46:35","modified_gmt":"2021-12-22T07:46:35","slug":"chinas-state-run-media-xinhua-news-agency-to-issue-nfts-despite-crypto-crackdown","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chinas-state-run-media-xinhua-news-agency-to-issue-nfts-despite-crypto-crackdown\/","title":{"rendered":"China’s State-run Media Xinhua News Agency to Issue NFTs Despite Crypto Crackdown"},"content":{"rendered":"\n
China <\/a>has been obstructing citizens' access to cryptocurrencies. However, it appears that Xinhua News Agency will use NFTs as collectibles.<\/h5>\n\n\n\n
\"China's<\/figure>\n\n\n\n

The NFTs \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>would be coined from certain select news photographic reports from the year 2021, according to an announcement made on Wednesday, December 22 by the Xinhua News Agency. Additionally, they will be distributed for free via its news app on Friday of this week. Bloomberg reported, citing information from the agency:<\/p>\n\n\n\n

Xinhua\u2019s \u201cdigital news collectibles\u201d will have unique identification and ownership information on a blockchain from Tencent Cloud, and are of \u201cspecial commemorative significance and collection value\u201d. Tencent and Ant also previously changed the name for NFTs on their platforms to \u201cdigital collectibles.\u201d<\/p><\/blockquote>\n\n\n\n

A total of 11 NFTs will be available in the first batch, each limited to 10,000 copies. There will also be a special edition, according to the Xinhua News Agency. “This is a one-of-a-kind year-end review,” Xinhua reported. “Moreover, it's metaverse-written digital memory.”<\/p>\n\n\n\n

The Craze for NFTs by Media Houses<\/h2>\n\n\n\n

This isn't the first time a media company has used NFTs <\/a>to its advantage. Other well-known news organizations, such as the New York Times and TIME Magazine, have previously dabbled with the area of NFTs. The fact that this is happening while the Chinese government has been cracking down on the use of any type of crypto asset is unexpected. Bloomberg's most recent report states:<\/p>\n\n\n\n

While Chinese authorities<\/a> haven\u2019t labeled NFTs illegal, it\u2019s a grey area where any participant must tread carefully to avoid unwanted scrutiny. Domestic firms such as Tencent Holdings Ltd. and Ant Group Co. have issued NFTs on their tightly-controlled blockchain <\/a>platforms. Domestic media had warned of \u201cblind speculation\u201d in NFTs.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

China has been obstructing citizens’ access to cryptocurrencies. However, it appears that Xinhua News Agency will use NFTs as collectibles. The NFTs would be coined from certain select news photographic reports from the year 2021, according to an announcement made on Wednesday, December 22 by the Xinhua News Agency. Additionally, they will be distributed for […]<\/p>\n","protected":false},"author":13,"featured_media":15510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,62],"tags":[5617,6137,6136,5370],"class_list":["post-15504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-nft-news","tag-china-2","tag-collectibles","tag-crypto-crackdown-2","tag-nfts-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/image-189.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15504"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/15510"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}