Chinese state media renews warning against NFT ‘zero-sum game’, flagging ‘fraud’ risks as digital collectibles gain recognition squib

The People’s Daily, mouthpiece of the ruling Chinese Communist Party, has spoken out against the investment fever around non-fungible tokens (NFTs), questioning whether it is another “zero-sum game hyped by cryptocurrency investors and capital”.The latest state-media warning comes as NFTs and the metaverse have been gaining momentum, with a growing list of Chinese firms openly embracing them. Media firm 36kr Holdings gave away 1,124 metaverse-themed digital collectibles at a conference in…
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