News Snapshot:
As the non-fungible token (NFT) craze continues to catch on in China with tech giants riding the trend , a Beijing government-run newspaper called out a platform for potential risks involving its payment model. Beijing Business Today, a newspaper owned by the Beijing municipal government, reported on Monday there were risks that buyers’ cash could be held onto by NFT marketplace UMX.ART, as users are asked to make payment before they place a bid on an auction, with the platform saying they will be refunded if the bid fails. Li Zhang, a co-founder and CTO of UMX.ART, clarified with Forkast.News...
