Skip to main content

Mark Zuckerberg plans NFT paradise while China looks to ban them


 

At the SXSW conference in Austin, Texas, Meta CEO Mark Zuckerberg announced that he was working on an NFT feature for Instagram . After the integration of non-fungible tokens on Twitter and Reddit , Zuckerberg and his companies now dare to enter the realm of the much-hyped NFTs.


While Twitter is all about NFT profile pictures, there is speculation that Reddit wants to build its own marketplace for the digital collectibles in order to compete with OpenSea , for example . Zuckerberg, however, is not showing his cards yet.


After the conference, tech journalist Casey Newton reported via Twitter that the meta boss also planned to mint NFTs on Instagram. When asked what exactly the feature will entail,"We've said before that we're exploring NFTs and we don't have any further information beyond what Mark has on the SXSW said”.


So it remains to be seen what exactly the new feature means for the platform. Deutsche Bank is already predicting that NFT integration on Instagram could push the sector sharply toward mass adoption .

NFT sector in China's shortage

While US social media platforms are outdoing each other with news about new NFT features, China is backtracking.


According to crypto journalist Colin Wu reporting on the spot, popular news service WeChat suspended accounts related to NFTs. The reason: spread of speculation. On Twitter, Wu said:


WeChat, which has 1.2 billion users, said it has banned NFT accounts en masse, requires them to have a Chinese government-provided blockchain corporate login, and bans secondary transactions.

After the Middle Kingdom put a stop to the crypto mining sector, the general ban on crypto transactions soon followed. There are also strict rules for the NFT sector.


Just recently, the company behind WeChat, Tencent , founded its own NFT marketplace with the wholesaler Alibaba . However, due to new guidelines in China, the trading venue underwent a rebranding that renamed the term “NFT” to “Digital Collectible”.


China continues to pursue its surveillance strategy. While the government is generally putting a stop to cryptocurrencies, the Chinese central bank digital currency (CBDC) is becoming more and more integrated into everyday life. This narrative is slowly being observed in the NFT sector as well: preferably only state-owned projects .

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more