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Chinese marketplace repurchases NFTs, citing uncertain policies

Non-fungible token (NFT) marketplace Yucang Digital Collectibles announced that it is buying back assets sold on its platform due to lack of regulatory clarity. 

See related article: NFTs in China must be reviewed: China media watchdog

Fast facts

  • According to posts from Yucang’s official WeChat account, the platform was set up two and a half months ago, and has only sold one batch of digital collectibles since then.
  • Yucang is built on the Hundsun Chain, which is built by Shanghai Stock Exchange-listed firm Hundsun and approved by the local cyberspace watchdog. 

See related article: Chinese Communist Party paper to “develop” NFTs


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