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China Daily, a well-known newspaper linked to the Chinese Communist Party, is allocating 2.813 million Yuan (about $390,000) to develop its own metaverse and non-fungible tokens (NFT) platform.
The newspaper has issued a public tender, inviting bids from domestic and international blockchain companies to build this platform. The chosen contractor should be capable of handling over 10,000 transactions per second, and they will have three months to launch the platform.
The NFT marketplace will support various collections, multimedia, pricing, bidding, limited-time features, and multiple currency settlements.
Four Key Aspects of the Project
The project involves four main components:
1. Building China Daily’s “Digital Collection Issuance Platform.”
2. Developing and promoting NFT digital collectibles globally.
3. Supporting the growth of AR and VR content.
4. Creating and promoting creative spaces in the metaverse.
It’s important to note that joint bids are not accepted; companies must apply individually for consideration.
China Daily’s ambitious plan aligns with the growing global interest in emerging technologies like the metaverse and NFTs. A report by blockchain analytics firm Nansen anticipates a market capitalization of $80 million by 2025, signaling significant growth in the NFT market.
This initiative by China Daily underscores the importance of the metaverse and NFTs in shaping the future of journalism and content creation. It reflects the newspaper’s commitment to staying at the forefront of technological advancements in the media industry.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.