NFT Platform – Future Looks Bright With Left And Right Launches
Recent frequent news about a new NTF platform getting launched could be a good indicator of the current status of NFTs. From one NFT platform dedicated to climate act to another one for musical films, things appear to be rosy for the NTF community.
Camilo WoodJun 20, 20223 Shares368 Views
In China, the government monitors anything related to cryptocurrency, such as an NFT platform.
Cryptocurrency is something the Chinese government has been wary about for a long time now.
In fact, it has been warning its citizens all these years because of the risks attached to crypto.
Moreover, just last year, China took a stronger stance against cryptocurrency by banning it, according to CryptoPotato.
The ban, however, doesn’t include non-fungible tokens (NFTs).
For the growing NFT community in China, it’s a hooray for them.
Per CryptoPotato, Chinese newspaper Huaxia Times reported about the increase in NFT platforms in the country.
From an estimated 100 NFT platforms in February 2022, more than 500 are now operating as of June.
Taking into account the government’s extensive warning on the perils of cryptocurrency, that came out as a surprise.
According to Cointelegraph, the popularity of NFTs soared at the time China imposed lockdowns during the height of the COVID-19 pandemic.
To pass away time? To kill boredom? To serve as a “good” distraction? To earn additional income?
OpenSea, an American NFT platform, received several – by the hundreds – NFT listings from people in Shanghai. This international commercial district happens to be China’s largest and most populous city.
If the demand for NFTs continues to rise in China, another NFT platform may come out sooner or later in the country.
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