Chinese internet giants eye on NFT, as regulators consider much needed supervision

Photo: VCG Chinese internet giants have been eyeing on opportunities and implementing strategic plans to leverage the rapidly expanding blockchain-based digital asset industry focused on non-fungible tokens (NFT). The latest moves came from the domestic internet industry players in November, launch of R-space by Chinese start-up Xiaohongshu or Little Red Book, allowing collectors to directly purchase digital collections within the app itself and are gifted with an actual commodity. Aibank, established jointly by China CITIC Bank and Baidu, the nation's first state-controlled internet bank, also launched its own digital collection on November 18 for the bank's fourth anniversary, marking the…