{"id":70851,"date":"2023-10-10T04:45:25","date_gmt":"2023-10-10T08:45:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/china-daily-newspaper-mulls-metaverse-and-nft-marketplace-launch\/"},"modified":"2023-10-10T04:45:28","modified_gmt":"2023-10-10T08:45:28","slug":"china-daily-newspaper-mulls-metaverse-and-nft-marketplace-launch","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70851","title":{"rendered":"China Daily Newspaper Mulls Metaverse and NFT Marketplace Launch"},"content":{"rendered":"<div>\n<p style=\"text-align:justify;\">China Daily, a prominent English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has allocated a substantial 2.813 million Yuan ($390,000) to build its own metaverse and a non-fungible tokens (NFT) platform.<\/p>\n<p style=\"text-align:justify;\">China Daily has called for a public tender, seeking bidders to respond before October 17. The media outlet has called for a third-party contractor, both domestic and international blockchain firms, to develop the marketplace.<\/p>\n<p style=\"text-align:justify;\">The \u201cqualified bidder\u201d must possess the capacity to handle more than 10,000 transactions per second, China Daily said in a document. Selected contractors will have 3months time to bring the platform live.<\/p>\n<p style=\"text-align:justify;\">Further, once the form of the digital collectibles is confirmed, \u201ca single digital collection must be developed and launched for online distribution and promotion within one month,\u201d a translated document read.<\/p>\n<p style=\"text-align:justify;\">China Daily NFT marketplace aims to support multimedia and other types of collections, including pricing and bidding, limited-time features and multiple currency support for settlements to ensure a reliable and robust experience.<\/p>\n<h2 style=\"text-align:justify;\">Project Has Four Key Aspects<\/h2>\n<p style=\"text-align:justify;\">According to the announcement, the project would include four key service components including<\/p>\n<p style=\"text-align:justify;\">1.\u00a0\u00a0\u00a0 The construction of China Daily\u2019s \u201cDigital Collection Issuance Platform,\u201d<\/p>\n<p style=\"text-align:justify;\">2.\u00a0\u00a0\u00a0 Domestic and international creative development and promotion of NFT digital collectibles,<\/p>\n<p style=\"text-align:justify;\">3.\u00a0\u00a0\u00a0 Fostering the development and promotion of AR and VR content and<\/p>\n<p style=\"text-align:justify;\">4.\u00a0\u00a0\u00a0 The conceptualization, development, and promotion of creative spaces within the metaverse.<\/p>\n<p style=\"text-align:justify;\">The project stressed that it does not accept joint bids and companies must apply individually to be considered.<\/p>\n<p style=\"text-align:justify;\">The ambitious plan comes at a time when global interest in these nascent technologies is on the rise. A report from blockchain analytics firm Nansen predicted an $80 million market capitalization by 2025 and rapid growth of the NFT market.<\/p>\n<p style=\"text-align:justify;\">China Daily\u2019s initiative highlights the relevance of the metaverse and NFTs in shaping the future of journalism and content.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/china-daily-newspaper-mulls-metaverse-nft-marketplace-launch.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China Daily, a prominent English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has allocated a substantial 2.813 million Yuan ($390,000) to build its own metaverse and a non-fungible tokens (NFT) platform. China Daily has called for a public tender, seeking bidders to respond before October 17. The media outlet has called [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":70852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-70851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China Daily Newspaper Mulls Metaverse and NFT Marketplace Launch | iFintechWorld<\/title>\n<meta name=\"description\" content=\"China Daily, a prominent English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has allocated a substantial 2.813\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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