NFT platforms in China grow 5X in four months despite government warnings

NFT platforms in China grow 5X in four months despite government warnings


The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100.

According to a report published by a local Chinese daily, the sharp rise in the number of NFT platforms comes amid the growing hype and popularity of the digital collectibles in the country. Major tech giants including Tencent and Alibaba have shown interest in the nascent space and have filed multiple trademark patents.

The rise in interest in digital collectibles in China comes despite several warnings from the local authorities from time to time. The government agencies believe the Chinese NFT market is

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