Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China
The Chinese city of Wuhan had reportedly shelved its aspirational nonfungible tokens (NFTs) plans amid growing regulatory uncertainty around the crypto and Web3 technologies in the country. Wuhan first announced its plans to support metaverse and NFTs in the aftermath of the coronavirus breakout as a measure to boost its economy ruined by the pandemic. The Wuhan government’s draft industrial plan for the city’s metaverse economy development included a line about NFTs. However, that part has now been omitted from the latest version, according to a report by South China Morning Post. The report noted that the revised version still encourages businesses to focus on decentralized tech and Web3 but makes no mention of NFTs.
Source
https://t.me/nfts_defi_metaverse
