China Will Launch a Regulated Non-fungible Token Marketplace in 2023

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China has plans to launch a state-backed trading platform for non-fungible tokens (NFTs) next year.

According to sources, the ceremony dedicated to the event will take place on January 1, 2023 in Beijing.

The site will be managed by two enterprises owned by the state: China Technology Exchange and Art Exhibitions China. In addition, private company Huban Digital will also manage the platform.

The marketplace, called China Digital Asset Trading Platform and whose underlying blockchain platform is called the China Cultural Protection Chain, will be used to trade digital property rights along with collectibles.

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