NFT platforms in China grow 5X in four months despite government warnings

The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100. According to a report published by a local Chinese daily, the sharp rise in the number of NFT platforms comes amid the growing hype and popularity of the digital collectibles in the country. Major tech giants including Tencent and Alibaba have shown interest in the nascent…

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RMB stablecoin in Shanghai, Evergrande FUD, and FTX gains ground – Cointelegraph Magazine

[ad_1] This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.   This week, the word “Evergrande” found its way into the vocabulary of every western investor. After years of watching the corporation’s football team on TV and drinking its bottled water, Crypto Twitter was the last place the Man in Shanghai expected to find it. After facing debts of over $300 billion, all types of rumors swirled, leading…

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