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The Chinese corporation Xiaomi announced the closure of the project, citing multiple issues that need to be worked out.
Chinese electronics manufacturer Xiaomi will wrap up work on a blockchain clone of CryptoKitties called Cryptorabbit. This was announced by the developers of the project on the official website. The corporation will stop supporting the project in March 2022.
What exactly caused the closure remains unknown. The developers stated that “there is still a lot of room to improve the features and methods of the game.”
The project description states that Cryptorabbit is a virtual rabbit created with “decentralized technology.” All rabbit tokens are “decentralized”. However, it remains unclear on which distributed network the tokens were stored.
The developers emphasized that the tokens belong exclusively to the owners. This means that the coins “cannot be copied, modified or destroyed by anyone.” In fact, the tokens will be destroyed, as players will lose access to the project on March 1st of this year.
Recall that earlier the editors wrote that China will create its own market for non-fungible tokens (NFT) based on the state blockchain Blockchain Services Network. It is reported that the network will receive a special interface for companies or individuals to create their own NFTs. It will be possible to buy such tokens only with the help of the Chinese yuan. The cost of the service will be $0.7. Use cases will be limited.
In early November 2021, ConsenSys Senior Analyst Shuyao Kong stated that ZQGame, a publicly traded Chinese metaverse game developer, had received a request from the Shenzhen and Shanghai Stock Exchanges.
It is reported that the administration of the exchanges are interested in the promotional materials of the company on the metaverse. They also want to learn the operational structure of ZQGame. According to Kong, the management of the exchanges intends to find out whether Chinese citizens can conduct “gray” financial schemes through the metaverses.
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