Xinhua News Agency, the largest media group in China that is also run by the state, has officially joined the non-fungible token (NFT) world. The organization will drop the country’s very first digital NFT collection featuring selected news photos.
Xinhua News Agency’s news digital collectibles will be released as NFTs. As per the South China Morning Post, the publication will be releasing a total of 110,001 copies of snapshots and these will all be for free.
The collectibles were announced on Wednesday, Dec. 22, by the Beijing-based news organization. The public, especially those who are interested in digital assets can wait for the drop on Christmas Eve which is on Dec. 24.
The 110,001 copies of news photos is a package that consists of 11 pictures that will be reproduced at 10,000 pieces each. The extra one copy is said to be a special edition that will be available on Xinhua News Agency’s mobile app. It will be on the app at 8 p.m. sharp this Friday.
The collections are considered records of valuable historical moments that happened this year. The Chinese publication added they are also “digital memory written into the metaverse world.”
Some of the news photos to expect in the NFT news photo collectibles include the celebration of China’s Communist Party’s 100th anniversary that took place in Beijing’s Tiananmen Square in July. Another historic event is the country’s milestone of delivering more than 2.7 billion coronavirus vaccines nationwide.
For its venture into NFTs, Xinhua News Agency will get support from Tencent Holdings, a local internet firm. It will provide the needed backing for blockchain technology to make and launch the digital collectibles.
It is widely known that Beijing has cracked down on crypto mining and trading in the country but it has issued permission for NFTs and the metaverse to operate in a grey area. Meanwhile, Reuters reported that Xinhua News Agency’s move to release NFTs is a first and has given blockchain a boost in the Chinese region where it is heavily regulated these days.
Finally, all the 11 photos that will be featured in the Xinhua News Agency NFT photo collectibles were taken by journalists.


FxWirePro- Major Crypto levels and bias summary
Golden Dome Missile Defense: Anduril and Palantir Join Forces on Trump's $185B Space Shield
SpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 Billion
Finnair Orders 18 Embraer E195-E2 Jets in Landmark Fleet Overhaul
Nanya Technology Shares Surge 10% After $2.5 Billion Private Placement from Sandisk and Cisco
FxWirePro- Major Crypto levels and bias summary
Henkel in Advanced Talks to Acquire Olaplex at $2 Per Share
SLMG Beverages Eyes Price Hikes Amid Rising Packaging Costs and India's Booming Soft Drink Market
Bitcoin Reclaims USD 71,000 Milestone: Bullish Sentiment Resurges as Geopolitical Tensions Ease
Delivery Hero Sells Taiwan Foodpanda to Grab for $600 Million in Debt-Reduction Push
Meta Ties Executive Pay to Aggressive Stock Price Targets in Major Retention Push
Rio Tinto's Resolution Copper Mine: U.S. Smelting Challenges and Global Operations Update
Valero Port Arthur Refinery Explosion Prompts $1M Lawsuit Over Worker Safety Negligence
NAB Plans to Cut 170 Jobs While Expanding Offshore Operations
Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling 



