Chinese state media warns against NFT ‘zero-sum game’

The People’s Daily, mouthpiece of the ruling Chinese Communist Party, has spoken out against the investment fever around non-fungible tokens (NFTs), questioning whether it is another “zero-sum game hyped by cryptocurrency investors and capital”.The latest state-media warning comes as NFTs and the metaverse have been gaining momentum, with a growing list of Chinese firms openly embracing them. Media firm 36kr Holdings gave away 1,124 metaverse-themed digital collectibles at a conference in…