Visitors pictured in front of an immersive art installation titled “Machine Hallucinations – Space: Metaverse” on September 30, 2021. The piece by artist Refik Anadol was converted into an NFT and auctioned online at Sotheby’s, at the Digital Art Fair, in Hong Kong. Photo: Reuters
Visitors pictured in front of an immersive art installation titled “Machine Hallucinations – Space: Metaverse” on September 30, 2021. The piece by artist Refik Anadol was converted into an NFT and auctioned online at Sotheby’s, at the Digital Art Fair, in Hong Kong. Photo: Reuters
NFTs

NFTs heat up in China as ‘digital collectibles’ despite tough regulatory environment banning profits

  • Tech giants Alibaba, Tencent, and Bilibili, among others, all have their own ‘digital collectibles’ to cash in on the NFT craze despite government scrutiny
  • China’s tough regulatory environment has companies shunning the term NFT and barring users from selling their digital assets for cash

Visitors pictured in front of an immersive art installation titled “Machine Hallucinations – Space: Metaverse” on September 30, 2021. The piece by artist Refik Anadol was converted into an NFT and auctioned online at Sotheby’s, at the Digital Art Fair, in Hong Kong. Photo: Reuters
Visitors pictured in front of an immersive art installation titled “Machine Hallucinations – Space: Metaverse” on September 30, 2021. The piece by artist Refik Anadol was converted into an NFT and auctioned online at Sotheby’s, at the Digital Art Fair, in Hong Kong. Photo: Reuters
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