NFTs are gaining traction in China, but Beijing’s aversion to anything prone to speculative manias and fraud is likely to restrain their appeal. Without sanctioned secondary markets, collecting will be merely a token gesture, say mak_robyn and t__shum
Xtep International on March 22 released its first digital collection of running shoes, called the"160X-Metaverse", in what it said was the first of its kind for a Chinese sportswear brand.
The company produced 321 pairs, which were all sold within 70 minutes of their debut online. The non-fungible tokens were priced at 1,603 yuan each. The comparable 160X physical running shoes retail for 999 yuan per pair, according to local media.Hands holding a tablet computer are pictured during a tour through the urban NFT LAB called"GAME OVER" by the artist group Die Dixons in Berlin, Germany, October 6, 2021.
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