What We Should Know From The First NFT Infringement Case In China

For the owners of brands and copyrights, the Metaverse, which has suddenly become hot in the past two years, shows a new and untapped huge market. In particular, the emergence of NFT has really opened imagination space for digital assets and built a new and unique way of carrying value.

From the perspective of economics, only transaction can make the final allocation of resources to users who can maximize their value. In China, NFT is called "digital collection" rather than "token" because the Chinese government is very firmly opposed to cryptocurrency. Therefore, NFT is not a banknote with the same value, nor is it an equivalent of mutual replacement, but a unique product. More specifically, it is a unique digital commodity stored on the blockchain and can be bought and sold online.