NFTs heat up in China as ‘digital collectibles’ despite tough regulatory environment banning profits

When Simon Gao, an engineer in China’s eastern city of Hangzhou, decided to join a lucky draw to buy a “digital collectible” profile photo on Bilibili last Friday, he did not expect the process to be so difficult.The video streaming platform set a high bar for potential buyers, requiring bidders to have logged into the site every single day last year. Gao qualified, but he was still unable to get a profile picture featuring cartoon pigeons, which is stored on the company’s blockchain network…


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