China Daily Ventures into Metaverse and NFTs with $520 Million Platform Project

China Daily, a state-owned English-language newspaper in China, is set to launch its own metaverse and NFT platform. They are seeking a specialized blockchain company, either in China or abroad, with a high-capacity mainnet capable of handling over 10,000 transactions per second to design the platform. The chosen contractor will receive a down payment of 2.83 million yuan (approximately $520.29 million). Companies interested in this project must apply by the 17th of the current month and complete the platform’s design within three months.

The platform’s features include the ability to upload and display digital collections, support various multimedia and collection types, and provide multi-currency functionality for pricing and bidding. China Daily aims to utilize the NFT platform to promote Chinese culture through metaverse, virtual reality (VR), augmented reality (AR), and mixed reality (MR). Additionally, the crypto assets sold on this platform may eventually be listed on NFT marketplaces like OpenSea and Lookthrough.

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