The official newspaper of the Central Committee of the Chinese Communist Party (CCP) People’s Daily is set to develop non-fungible tokens(NFTs) for digital publication as a part of its strategic cooperation deal with China International Culture Group.
People’s Daily stated it will cooperate with state-owned enterprise China Arts and Entertainment Group to develop “digital collections” themed on Chinese traditional and modern paintings.
The report revealed that they will issue the NFTs for digital publication, and to explore the tokens’ editing, reviewing and publication process.
“Lingjing·People’s Art Museum” will be the platform to publish and distribute digital collections and explore the content supervision model for the public distribution of the collections.
The People’s Daily had launched its marketplace in January and airdropped the first few NFTs for free.
The agreement with China International Culture Group signifies People.com’s official entry into the space of digital collections. Thus, also encouraging people to appreciate art and letting art enter the homes of ordinary people.
The distribution of digital collections of “Lingjing·People’s Art Museum” will focus on art, exhibition, film and television, public welfare and other fields.
The cause will try to distribute digital collections related to the nation’s culture overseas to introduce a new path for the global propagation of Chinese culture.
The announcement from the official newspaper of the CCP ironically comes after the country increased its scrutiny over Metaverse and NFTs and stressed upon the need for regulation.
However, the scrutiny didn’t stop firms from exploring the ‘democratic’ space of NFTs as recently Chinese electric automobile maker Xpeng decided to sell ‘digital collectibles’ on Alibaba’s Jingtan.
