China’s digital collectibles hold ground amid global cryptocurrency rout, indicating resilience among the country’s investors

  • A range of digital collectibles listed on Chinese NFT marketplaces saw major gains in their market value on Friday
  • While cryptocurrency trading is banned in China, enthusiasts in the country are known to have found workarounds to skirt the restrictions

The ‘Mutant Ape Yacht Club’ NFT collection is exhibited at “METAVISION” in Hong Kong. Photo: SCMP/ Nora Tam

Digital collectibles, China’s version of non-fungible tokens (NFTs), turned in a robust performance last week in the face of a global cryptocurrency and NFT market slump, indicating resilience among Chinese investors for the blockchain-based speculative assets.

A range of digital collectibles listed on Chinese NFT marketplaces saw major gains in their market value on Friday, with many items from popular collections trading at prices 20 per cent higher than the previous day, according to data posted by Chinese NFT price tracking site NFTshipan.

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