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Chinese government-owned newspaper to launch NFT platform
China Daily stated that digital collectibles sold on its platform may be bridged to the likes of Opensea and LooksRare.
China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, wants to create its very own metaverse and nonfungible tokens (NFTs) platform.
According to a recent announcement, China Daily is awarding 2.813 million Yuan ($390,000) to a third-party contractor that can design the NFT platform within its budget specifications. The contractor can be "either a Chinese or foreign" firm specializing in blockchain, China Daily wrote. In addition, the mainnet of the blockchain firm that wins the contract must be capable of handling upwards of 10,000 transactions per second.
Contractors will have until Oct. 17 to submit their application and design the platform within three months' time. The aim of the China Daily NFT Platform is to "improve the spread of the influence of the Chinese Civilization" through means such as the use of the "metaverse, virtual reality (VR), augmented reality (AR), mixed reality (AR), and Blockchain, irreplaceable digital assets (NFT), big data, cloud computing and other technologies."
Developers stated that the platform must allow "uploading, displaying, and managing digital collections and supports multimedia forms and multiple collection types." Pricing, bidding, and limited-time functions must also be integrated into the NFT platform alongside multi-currency settlement.
"In addition to its own platform, based on the project goals and audience groups, domestic and overseas mainstream NFT platforms suitable for issuing digital collections will be selected to issue NFT digital collections. Foreign platforms include but are not limited to OpenSea, Rarible, SuperRare, Foundation, etc."
*Source: Cointelegraph Shiba Inu (SHIB) Achieves Another Huge Milestone: Details
Shiba Inu’s layer-2 solution, hits one million blocks and boasts over three million transactions.
Introduced in August, Shibarium aims to upgrade Shiba Inu by improving transaction efficiency.
Despite Shibarium’s advancements, Shiba Inu’s value fell by 4% on October 9 and 8% over the week.
The Latest Achievement
The popular memecoin Shiba Inu (SHIB) and its surrounding developments keep making the headlines. Its most recent achievement is related to the recently-launched layer-2 blockchain solution Shibarium.
According to ShibariumScan, it reached the milestone of one million blocks, highlighting a growing demand for scalable features.
A few weeks ago, the L2 network blasted through another peak after the total number of transactions on it exceeded the coveted level of three million. Currently, that figure stands at almost 3.4 million, while wallet addresses are inching towards 1.3 million.
Shibarium officially saw the light of day at the end of August. It aims to elevate Shiba Inu as a leader in the memecoin realm by improving speed and lowering transaction fees. Those curious to find out more about its launch and purposes can watch our dedicated video below:
SHIB’s Price is on a Downhill
Some analysts and experts, such as the pseudonymous X (Twitter) user “Shib Informer,” have suggested that further advancement of Shibarium could positively affect Shiba Inu’s valuation.
However, the asset is down 4% today (October 9), in resonance with an overall decline of the entire cryptocurrency market. It has also plunged by over 8% on a weekly basis (per CoinGecko).
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