It’s rarely an easy feat, deciphering the intentions of major industry moves, especially when they echo the unmistakable, pulsating rhythm of imminent change. True to this form is the eye-catching initiative launched by China Daily, an English-language newspaper giant owned by the Publicity Department of the Chinese Communist Party. They’ve opened the gates to an astounding 2.813 million Yuan (roughly $390,000) for the construction of a self-curated metaverse and a non-fungible tokens (NFT) platform.
Now, this is no small task. The call for a public tender extends to both domestic and international blockchain firms of distinction, with an emphasis on the ability to withstand more than 10,000 transactions per second, according to the statement by China Daily. The selected contractor is faced with a notable challenge to bring this platform to life within a strict three-month timeframe.
As the virtual landscape broadens, the focus broadens with it – includes the construction of China Daily’s “Digital Collection Issuance Platform”, the creative development and promotion of NFT digital collectibles, both domestically and internationally, and the promotion and development of AR and VR content. Not to mention the conceptualization and development of creative spaces embedded within the proposed metaverse.
Against the backdrop of a soaring global interest in NFTs and the rapidly proliferating sector of the metaverse, with a predicted $80 million market capitalization by 2025, China Daily’s ambitious venture seems to fit right in. But one might ponder, is this a case of trend following, or are they attempting to forge a new path?
It’s also worth noting the plan’s apparent aversion to joint bids; companies must tread the vast expanses of this new frontier alone, which raises some eyebrow. Why this emphasis on solitude in a field renowned for collaboration and synergy?
Despite these question marks, it’s hard to deny the bold strokes of innovation being undertaken by China Daily. By staking their claim in the NFT marketplace and the metaverse, this initiative signals, rather emphatically, the relevance and potential influence of these technologies on the future of journalism and content creation.
Source: Cryptonews
