China Central Television Branch to Launch New NFT Series

The online affiliate of the state broadcaster China Central Television (CCTV) will launch a new NFT series to celebrate Space Day in China.

The first NFT CCTV collection was released for free during the Chinese New Year on the Tencent blockchain. The second batch was released on the Alibaba blockchain to commemorate the Lantern Festival in February and received 717,600 yuan ($112,626) in initial sales.

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CCTV has ditched NFTs on Alibaba and Tencent as its third series of NFTs will be sold on marketplace Topholder, a partner of Chinese social media platform Weibo.

Topholder allows Weibo users to create their social posts as an NFT.

Last week, Chinese banking and securities drew a red line around digital collectibles, calling on their member organizations to curb the wave of NFT “financialization and securitization.”

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