Despite the general ban against cryptocurrencies, the Chinese government is showing recognition to the potential value of blockchain technology. The Shanghai Data Exchange will airdrop 1,000 Ethereum non-fungible tokens (NFTs) on Apr 13, as part of a collaboration between Hong Kong and the Data Exchange. The NFT holders will gain access to a custom physical baggage tag at the Hong Kong International Innovation and Technology Exhibition in 2024. CryptoNatty, a crypto content platform, will manage the airdrop through its Launch Tower portal.

In order to receive the NFTs, individuals must connect their MetaMask, Argent, Rainbow or WalletConnect wallets from 18:00 UTC on April 12 until 23:59 local time on April 14. The airdrop will conclude on April 16th.

The Chinese tech giants, Tencent, Ant, Baidu, and JD, have imposed a self-ban on secondary market trading of NFTs following the global ban on cryptocurrencies announced by the Chinese government in 2021. Unfortunately, the searches for Bitcoin on popular Chinese microblogging sites Weibo and Douyin are restricted presenting only warnings to potential investors. Huang Yiping, a former People’s Bank of China adviser, warned the Chinese government regarding the potential missed opportunities through its strict crypto ban.

Despite the scepticism, China is more receptive to blockchain as an asset management tool and has approved the launch of the China Digital Trading Platform (CDEX). This platform offers services such as the registration, monitoring and administration of copyrights through the China Cultural Protection blockchain. The ultimate goal of the platform is to become a state inventory for tradable digital assets. Through the airdrop of Ethereum NFTs China is making a statement that it is open to embracing the potential value of blockchain technology.



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