A distinct flavor of NFTs is thriving in China, but they exist in a regulatory gray area. Also, you’re not supposed to call them “NFTs.” Deep dive by egreechee, camomileshumba, elitanjourno
) art: Beeples and CryptoPunks, among others. The show did so well it got an extended run in Shanghai.
“Great creator artists, they will come to like the real Web3 because it is what they really stand for and there also is a global market,” explained Qinwen Wang, China community leader at blockchain project Polkadot and one of the curators of last year’s “Virtual Niche: Have you ever seen a meme in the mirror?” exhibition.
They exist in a regulatory gray area, without clear and comprehensive laws. NFTs are not banned in China, but they can’t be bought with crypto and can’t be used as a speculative investment, as traders often do elsewhere in the world.
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