Boost for blockchain in China as Xinhua to issue photos as NFTs

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SHANGHAI (Reuters) -The official Xinhua news agency said on Wednesday it will issue a digital media photo collection via non-fungible tokens (NFTs), a first for China and a boost for the blockchain technology that underpins them and that Beijing has previously criticised.
NFTs, which are digitised ownership certificates, have gained in popularity globally this year, featuring as everything from an autographed tweet to paintings.
But China's relationship with the technology behind them, which also backs cryptocurrencies, is a complex one.
The issuance by the state news agency would indicate official support for NFTs, but party mouthpiece People's Daily last month criticised them as a possible fraud.
Xinhua said in an official notice that it planned to issue the 11 photos, all taken by journalists during 2021, free of charge online at 8 p.m. ...


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