• China is set to roll out its first state-backed NFT marketplace, to be managed by multiple state own entities.
• The marketplace, dubbed as „China Digital Asset Trading Platform, was put together by China Cultural Relics Exchange Center, China Technology Exchange, and Huaban Digital Copyright Service Center Co., Ltd.
• The platform will allow for the trading of multiple items, including digital collectibles.

China is taking a huge step towards the adoption of Non-Fungible Tokens (NFTs) with the launch of their first state-backed NFT marketplace. This platform, called the China Digital Asset Trading Platform, was put together by the China Cultural Relics Exchange Center, China Technology Exchange, and Huaban Digital Copyright Service Center Co., Ltd. The platform is set to launch on January 1, 2023 and it will allow users to trade collectibles, digital copyrights and property rights.

The platform is expected to have a profound effect on China’s cultural industry. The integration of new technologies such as NFTs into the Chinese market could bring about significant growth in the sector. The platform will also offer a variety of digital products, from digital collectibles to digital rights and copyrights.

In order to ensure the security of the platform and its users, the platform will be using a variety of technologies. It will be using blockchain-based solutions to ensure the authenticity and security of the transactions. Additionally, the platform will be using smart contracts to ensure that the rights and copyrights of the digital products are correctly handled.

The China Digital Asset Trading Platform is a major step forward for China’s adoption of NFTs. It is expected to bring about a new wave of opportunities in the cultural industry, as well as providing a secure environment for trading digital products. As the platform is set to launch in the near future, it will be interesting to see how it will be received by the public.