Over the weekend, an interesting development took place across the globe in the Eastern hemisphere. On October 8, McDonald’s China, notable for being a majority state-owned entity, launched its first NFT collection.
Marking the 31st anniversary of their presence in China, McDonalds launched a modest collection of 188 digital assets. These represent a set of 3D collectibles inspired by the new McDonald’s HQ in Shanghai. Dubbed “Big Mac Rubik’s Cube,” these assets are puzzle-esque in appearance, and unique in composition. According to sources, McDonald’s will distribute them to a select few customers and employees.
The new set of NFTs reside on the highly scalable Conflux blockchain, and are managed through Chinese NFT creation protocol, Cocafe. The supremely secure digital assets run on state-of-the-art technology.
— Conflux Network Official (@Conflux_Network) October 8, 2021
Despite China’s recent crackdown on cryptocurrencies, a number of high-profile enterprises are embracing NFTs. With this in mind, Alibaba has already fully immersed itself in the market, and now McDonald’s is following suit. It is therefore interesting to watch the Chinese NFT revolution unfold. So, is this a bold move by a couple of renegade company execs? Or, is this a sign that the Chinese state is ready to take the next step on digital assets? Only time will tell.
With more and more citizens researching NFT cultivation, it seems that the goliath Chinese market is ready for NFT integration. Currently, over a billion people already use a form of digital wallet, and interact with their currency digitally. Therefore, the impact is potentially incredible.
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