Marketing with NFTs (non-fungible tokens) has become a new trend
in China.
Imagine how exciting when buying a piece of digital artwork on
the internet and getting a unique digital token that proves your
authority over the artwork you bought. In time, when the NFT
artwork sells well online, the offline product price arises as
well.
Wouldn't it be a unique way to promote a upcoming new
product to the consumers?
However, the market and regulatory environment for NFTs in China
have evolved quite differently than in many other countries.
Legal Environment: Ambiguous
On May 18 2021, the National Internet Finance Association of
China, China Banking Association and Payment & Clearing
Association of China issued the Announcement on Prevention of
Speculation Risks Caused by Virtual Currency Transactions.
