China to Build Its Own NFT Industry Not Related to Crypto

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China to Build Its Own NFT Industry Not Related to Crypto
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China plans to have an NFT industry; it just won’t be connected in any way to cryptocurrencies.

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China’s state-backed Blockchain Services Network, which saw the light of day two years ago, plans to launch a new platform supporting non-fungible tokens. However, the nation reaffirmed that it will have nothing to do with cryptocurrencies.

However, the country is supportive of a few features related to digital assets, including the underlying technology – blockchain. He Yifan, chief executive of Red Date Technology, said NFTs “have no legal issue in China” as long as they are not related to crypto.

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