Inside Asian Gaming

IAG JUL 2022年7月 亞博匯 70 ALL-IN DIGITAL about the risks of investing in NFTs and clarified that NFTs should not be considered as securities or other financial products. The directive prohibits financial investment in NFTs, or providing financial support to others for investment purposes, and also forbids fractionalized ownership of NFTs and settlement of NFT transactions using cryptocurrencies. As a consequence, digital collectibles with no intrinsic value will remain the only viable option for the China market for use asmarketing or promotional tools. By way of example, Alibaba released a collection of digital collectible mooncakes for Mid-Autumn Festival last year that were built on Ant Group’s AntChain and sold through Taobao for RMB1 each. It is clear that the China market will not support the use of NFTs as pseudo-investment products for financial investment and speculation. To this end, the major digital collectible marketplaces in China have introduced requirements for purchasers to hold digital collectibles for a minimum of 180 days before transferring or reselling to avoid any type of short-term trading for profit. Outside the China market, NFT ownership has also been trialled as a tool to increase customer attachment to brands and long-term customer loyalty. Luxury brands, in particular, have started to use