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Several mainland Chinese tech giants are releasing digital collectibles as a new gift option for the Chinese New Year holiday season starting on February 1st.
Digital collectibles are essentially non-fungible tokens (NFTs), but the term is frowned upon by authorities.
Chinese search engine Baidu XuperChain has launched its digital collecting platform with a Year of the Tiger series.
Ant Group’s online payment platform Alipay’s Jingtan NFT platform, formerly known as Fensili, is also releasing digital collections in honor of the upcoming Spring Festival.
UnionPay is set to release at least eight series of digital collectibles in celebration of the New Year.
On Wednesday, Chinese video game giant NetEase launched its digital collection platform based on blockchain technology.
Unlike cryptocurrencies, China did not ban NFTs, but state media repeatedly warned of the speculative nature of the latter, leading Alipay and Tencent to rebrand NFTs as digital collectibles in October.
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