Digital Colletible Platforms in China Grow Exponentially Amid Government Warnings

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Digital Colletible Platforms in China Grow Exponentially Amid Government Warnings
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Over 500 digital collectible platforms exist in China - a 5x growth within four months - according to the state media.

Over 500 digital collectible platforms exist in China – a 5x growth within four months – according to the state media.

The press attributed the reckless growth in the space to the relative lack of regulations, stating that many secondary markets are operating as a speculative scheme. The report claimed that many collectibles circulating on the secondary markets are “low-quality,” so the markets could easily collapse once the regulatory oversight is clarified.

Due to a lack of regulatory supervision, individuals and businesses tried to engage with digital collectibles cautiously since the country’s super app WeChat has

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