Digital collectibles in mainland China will enjoy copyright protection only after a review, National Press and Publication Administration blockchain copyright director Liu Tianjiao said.
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Fast facts
- “Digital collectibles” is a phrase used in China to avoid reference to non-fungible tokens (NFTs) due to state media denouncing speculative activities surrounding NFTs.
- Digital collectibles “must align with the country’s core values,” Liu said in an article published by the People’s Daily’s NFT gallery on Thursday.
- Digital collectibles include art, music, animation, games, film, television and other original creative works, and don’t enjoy protection under law unless they have been reviewed and approved, Liu said.
- Liu said Chinese digital collectibles on secondary markets can fall on the “red line” of financialization.
- People’s Daily recently published an opinion article that supported the efficiency of NFTs in digital marketing, cultural content and creative industries.
See related article: China-run media outlet criticizes NFT platform as a payment risk
