Ant Group revamped NFTs amidst China crypto crackdown

Ant Group revamped NFTs amidst China crypto crackdown: Tencent Holdings Ltd. and Ant Group Co.’s blockchain unit AntChain changed the name for NFTs on their platforms to “digital collectibles.” According to news reports, AntChain made the switch on Sept. 15.


Tencent Holdings Ltd. and Ant Group Co.’s blockchain unit AntChain changed the name for NFTs on their platforms to “digital collectibles.” According to news reports, AntChain made the switch on Sept. 15.

 

Tencent and AntChain said their digital collectibles have no monetary attributes such as payment. They both don’t allow the resale of their NFTs for a profit, though local media reported that some of AntChain’s earlier products spurred speculative trades. AntChain requires owners to hold their NFTs for at least 180 days before they can be transferred for free to another party.

 

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