China warned of financial risks associated with non-fungible tokens (NFTs), as three industry bodies jointly issued guidelines to prevent the digital asset market from overheating.
NFTs are ownership certificates of a unique digital item such as a video, recording, or cyber artwork. Such digital collectibles are gaining traction in China and have been embraced by tech companies including Ant Group and Tencent Holdings.
Already a subscriber? Log in.
Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!