China's state-run news agency Xinhua will distribute 11 photos taken by journalists during 2021 in a form of non-fungible tokens (NFTs), Reuters reports. The news agency will giveaway each photo in a limited edition of 10,000 copies for free. Xinhua says the collection will "imprint digital memories into the metaverse."
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While this is the first time the state-run news agency mints NFTs, it remains unclear if it plans to distribute the tokens on a blockchain network like Ethereum or on a centralized alternatives like AntChain. According to reports, the collection might be issued on Zxinchain, Tencent's distributed ledger.
Earlier iHodl reported that Gou Wenjun, Director of the Anti-Money Laundering Monitoring and Analysis Center of the People's Bank of China, proposed creating a cryptocurrency transaction tracking system as one of the measures to strengthen regulation.
In July this year, the South China Morning Post (SCMP), the oldest Hong Kong's English language newspaper, also sold the so-called ARTIFACT collection. With the collection, SCMP wanted to take the "first steps" towards creating value from the news organization's first drafts of history.
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