Chinese Communist Party warn of NFT hype bubble


Source: reporterwings.com reporterwings.com

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[Crypto currency] Chinese Communist Party warn of NFT hype bubble According to local sources, the Chinese government has released a series of statements denouncing the value of the non-fungible token, or NFT, market, despite two of the nation’s major tech firms pursuing the technology. The story was first released locally by the Securities Times — a news publication service acting as a spokesperson for the official Chinese Communist Party outlet People’s Daily — and [reported](//www.scmp.com/tech/policy/article/3148286/state-media-warn-huge-bubble-nft-cryptocurrencies-lose-steam-china) by the South Morning China Post. The remarks claimed that “it is common sense that there is a huge bubble in NFT transactions”, and that...