Tencent has abandoned NFT functions on the Tencent News platform, Blue Whale Finance reports. This became known after the holding, together with 30 other Chinese companies, promised to stop secondary trading in non-interchangeable tokens.
According to media reports, the section with NFT collections in Tencent News was renamed “digital orders”, and now it displays users’ previous purchases.
Although NFTs are not banned in China, the country’s authorities are trying to stop any financial speculation and monitor the behavior of companies in the market. In particular, it is impossible to trade cryptocurrencies in China. Perhaps the position of the state partly affected the decision of Tencent.
Recall that a week ago Tencent closed the mobile application WeGame — the Chinese equivalent of Steam. Earlier, she also stopped supporting the Kuai Bao news aggregator and the Penguin Esports streaming platform.