Chinese broadcaster Shandong Television plans NFT, Metaverse and blockchain initiatives

April 6, 2022

By Sharan Kaur Phillora

Broadcaster Shandong Television of eastern China’s Shandong province has revealed plans for developing a marketplace for NFTs (Non-Fungible Tokens). This makes the broadcasting company the country’s latest government-owned media enterprise that is now hopping on the virtual asset bandwagon.

Here’s what we know:

The broadcaster enterprise also stated that they plan to build its own blockchain infrastructure that will support its digital collectibles while developing “a series of metaverse products”.

According to the network, their digital collectibles will revolve around the themes of cultural heritage, ancient architecture, and natural scenery. The NFTs are said to glorify the province’s rich Confucian culture and tourist hotspots such as Mount Tai, the highest point in Shandong at 1,545 meters high, as valuable resources for its virtual asset collection.

While this initiative reflects the continued interest for NFT- and metaverse-related projects across mainland China by both private and government enterprises there have been regulatory grey areas and warnings by the country’s central bank as a tool of money laundering.

Shandong Television’s incursion into NFTs comes months after state-owned Xinhua announced the country’s first “news digital collectibles”. A total of 110,001 copies of selected news photos were released for free by Xinhua via its mobile app on Christmas Eve.

About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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