Tencent-backed online literature platform the latest Chinese firm to jump on NFT bandwagon


The platform is built on COL’s extensive digital library, numbering more than 5.1 million assets covering animation, drama, novels and games. Similar to other so-called digital collectible platforms in China, the Fifth Prism app is only available to those 18 years or older who reside on the Chinese mainland. — SCMP

An online publishing company backed by gaming and social media giant Tencent Holdings has launched a “digital collectibles” platform, becoming the latest Chinese firm to embrace non-fungible tokens (NFTs) even though the cryptocurrencies required to purchase them are banned in China.

COL Digital Publishing Group, in which Tencent owns a 10% stake, said it launched a platform called “the Fifth Prism”, with the first batch of digital collectibles – 500 free copies of a copper badge based on the app’s logo – taken within two minutes of their release on Monday.

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