“Digital collectibles” is a phrase used in China to avoid reference to non-fungible tokens (NFTs) due to state media denouncing speculative activities surrounding NFTs.
Digital collectibles “must align with the country’s core values,” Liu said in an article published by the People’s Daily’s NFT gallery on Thursday.
Digital collectibles include art, music, animation, games, film, television and other original creative works, and don’t enjoy protection under law unless they have been reviewed and approved, Liu said.
Liu said Chinese digital collectibles on secondary markets can fall on the “red line” of financialization.
People’s Daily recently published an opinion article that supported the efficiency of NFTs in digital marketing, cultural content and creative industries.
