China Daily’s a well-known English-language newspaper connected to the Publicity Department of the Chinese Communist Party, has disclosed an ambitious undertaking. The newspaper intends to create its metaverse and NFT platform.
China Daily, under the patronage of the Publicity Department of the Chinese Communist Party, has expressed its ambitions. It aims to enter the domain of non-fungible tokens (NFTs) and explore the metaverse.
Recently disclosed, the publication has designated a significant amount of 2.813 million Yuan, which is equivalent to $390,000.
This allocation is intended for the purpose of engaging a skilled third-party contractor. This contractor will be responsible for turning their envisioned NFT platform into a reality. Importantly, this endeavor must stay within their budgetary constraints.
While one might assume a preference for local expertise, it’s worth noting that China Daily is open to both domestic and international blockchain experts.
China Daily Ambitious Venture: Navigating the Metaverse and NFT Realm
A critical prerequisite for the selected blockchain firm’s mainnet is its extraordinary ability. This ability pertains to its capacity to process an astonishing 10,000 transactions per second.
Prospective contenders are under time pressure, as they must submit their applications by the October 17 deadline. Once selected, they will have a three-month timeframe to actualize this platform.
The primary goal of China Daily’s NFT Platform is to expand the influence and impact of Chinese civilization, as outlined by the publication.
The proposed platform is positioned to leverage a fusion of cutting-edge technologies. These technologies encompass virtual reality, augmented reality, and mixed reality, which will be seamlessly integrated with the transformative potential of blockchain, NFTs, big data, and cloud computing.
The platform’s architectural blueprint requires robust support for a wide range of functions. These functions include the upload, display, and management of various digital collections.
Furthermore, it involves the integration of pricing mechanisms, bidding processes, and time-limited features. Additionally, the envisioned infrastructure is designed to facilitate transactions in numerous currencies.
In an effort to extend the platform’s sphere of influence, there is a possibility that digital collections could also establish a home on widely recognized international NFT platforms. These platforms include OpenSea, Rarible, and SuperRare..
Despite China’s rigorous measures against cryptocurrency transactions in 2021, blockchain enterprises are still in operation. However, they operate under the watchful gaze of the country’s law enforcement agencies.
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