China’s Communist Youth League marks its 100th anniversary with NFTs
NFTs are not only for capitalists. China’s future generation of communist leaders, known as the Communist Youth League, has adopted NFTs to celebrate its 100th anniversary.
On Wednesday, the league launched 54,000 free NFTs, all of which were minted in less than an hour. The NFTs featured the league’s official mascot named Tuanbao – a cartoon-like figure with two communist stars on its white anime head, representing China’s current ruling political party, the Chinese Communist Party (CCP).
The NFTs were created by Hangzhou ShunWang Technology, the Chinese network developer that built the blockchain.
The digital collectibles were issued on May 4, a festive day known as Youth Day in China. NFTs represented a tribute to student protests against the Treaty of Versailles that took place shortly after The First World War in 1919.
By celebrating Youth Day, prestigious Pekin University issued 20,000 NFTs in the form of alumni cards. The school was also commemorating its 124th anniversary.
Alibaba’s fintech affiliate, Ant Group, and gaming developer Tencent holding were the first to embrace NFTs in China, launching the first digital collectibles last summer.
Regulations regarding digital assets are strict among Chinese authorities. Cryptocurrency and NFT trading are not allowed in China. In March, Tencent’s WeChat application froze accounts that marketed digital collectibles, and Ant Group’s Topnod punished over 50 accounts for participating in the resale of NFTs.
Read related posts:
- During Covid-19 lockdowns, Shanghai residents turn to NFTs
- South China Morning Post Sells its First Historical NFT Collection in Two Hours
- Party Degenerates will take part in the building of Satoshi Island
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
More articles
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
