China’s Xinhua state news agency says it will release the country’s first collection of digital journalistic photos through irreplaceable blockchain-based tokens. NFT, “Printing digital memories in the metaverse”.
The agency plans to publish the 11 photos for free online at 8 p.m. local time (12:00 GMT) on December 24 using NFT technology, reported Reuters. Each frame will have a limited number of copies: 10,000.
NFTs are based on blockchain certificates of ownership, which have gained immense popularity this year. This can include everything from autographed tweets to original paintings.
The media agency’s decision comes at a time when China is trying to eradicate cryptocurrencies, which are also based on blockchain technology. The country introduced laws banning the trade and extraction of digital currencies earlier this year.
Xinhua’s digital collection includes photos taken by journalists in 2021 recording historical moments of the year, including the 100th anniversary of the Chinese Communist Party.