In the digital age, the trend of collecting is gradually changing. Previously popular physical collections such as star cards and souvenirs are becoming less and less popular, while digital collections NFTs made based on blockchain technology are being enthusiastically sought after, and many people choose to spend real money on "digital collections."

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At present, the scale of the digital collectible NFT industry is getting bigger and bigger, there are more and more collectors, and the policy environment is becoming more and more perfect. Especially with the development of the digital economy, blockchain and metaverse, digital collectible NFT has a broader space for development.

Since the popularity of digital collections in China in 2021, relevant policies have been issued frequently. According to the research data of iBox Digital Collection Research Institute, there were as many as 1,101 relevant policies from the central and local governments in my country's blockchain industry in 2021. Among them, in the "14th Five-Year Plan" released in March 2021, blockchain was highlighted as one of the key digital economic industries to be developed.

In May of the same year, the Ministry of Industry and Information Technology and the Office of the Central Cyberspace Security and Informatization Commission issued the "Guiding Opinions on Accelerating the Application of Blockchain Technology and Industrial Development", pointing out that blockchain technology should play a role in optimizing business processes, reducing operating costs, and building a trusted system.

Entering 2022, the relevant policies of digital collection NFT still encourage the industry to develop better. The 20th National Congress of the Communist Party of China clearly required, "accelerate the development of the digital economy, promote the deep integration of the digital economy and the real economy, and build a digital industry cluster with international competitiveness."

In the same year, Beijing, Shanghai, Xiamen and many other places also introduced policies to support the development of the industry. For example, the General Office of the Shanghai Municipal People's Government issued the "14th Five-Year Plan for the Development of Shanghai's Digital Economy", pointing out that it supports leading enterprises to explore the construction of NFT trading platforms, and studies and promotes the digitalization of NFT and other assets, the global circulation of digital IP, digital rights protection and other related industries in Shanghai.

In 2023, the support for the industry from relevant central and local policies has continued unabated. Among them, the General Office of the Ministry of Industry and Information Technology and other five departments jointly issued the "Three-Year Action Plan for the Innovation and Development of the Metaverse Industry (2023-2025)", which proposed that by 2025, breakthroughs will be achieved in metaverse technology, industry, application, and governance, making it an important growth pole for the digital economy.

With strong policy support, the digital collection NFT industry has made great progress in the past few years. As of 2024, relevant policies are still being introduced. According to data compiled by iBox Digital Collection Research Institute, Beijing, Shanghai, Zhengzhou and other places have recently introduced policies to help the metaverse field develop better.

Specifically, the Beijing Municipal Bureau of Commerce and eight other departments jointly issued the "Action Plan for Promoting the Integration and High-Quality Development of Diversified Consumption Formats", pointing out that the application of the metaverse in consumer scenarios should be increased, and the research and development of products such as smart terminals should be supported; the People's Government of Xuhui District, Shanghai issued a plan to support the development of new formats and models such as digital economy, cultural creativity, and the metaverse, and to give play to the leading role of intellectual property rights in industrial innovation; at the same time, Zhengzhou also issued policies involving metaverse intellectual property rights to encourage the layout of intellectual property rights in the metaverse field. For metaverse enterprises and institutions, they were first identified as national and provincial intellectual property advantage enterprises and demonstration enterprises, and were given different degrees of rewards.

It is worth mentioning that not long ago, the People's Daily also published an article stating that the metaverse industry should be developed with non-fungible tokens (NFTs) as the starting point. The article pointed out that at present, the global metaverse industry is accelerating its evolution, among which NFT is crucial. It is a unique and non-interchangeable data unit that can represent the ownership of related digital assets.

In the digital age, the ownership and confirmation of digital assets are very important. Digital collections NFT are both digital assets and provide strong support for the development of digital assets.

As stated in the People's Daily article, in the metaverse, NFTs can represent various assets in the digital world, such as digital items, online characters, etc. Every property right and monetary transaction involving NFTs is fully recorded in the blockchain smart contract, which helps prevent moral hazard and information asymmetry problems.

We believe that with the help of new technologies such as digital collections NFT, the future commercial applications of the Metaverse industry can cover social, entertainment, education and other fields, and will involve all aspects of people's daily lives. Although the road ahead is long, the digital collections NFT industry has a promising future.

About iBox

iBox is a leading digital collection ecological platform in China. Since the launch of the platform, iBox has always adhered to the mission of "using digital collections to create a better life", actively exploring new models that combine digital collections with related digital marketing, IP incubation, and creator economy, empowering the development of the cultural and creative industry.

The company has negotiated with more than 3,000 IPs and explored online cooperation models for digital art. The creators range from well-known brands and companies such as Shanghai Fine Arts Studio, China Aerospace, Wanglaoji, and iQiyi, to well-known sculptor Ren Zhe, world street dance champion Xiao Jie and other celebrities, to post-95 art academy star graduates, and to the most cutting-edge technology company AI Mingmang. We have selected more than 800 top IPs in multiple fields to cooperate with them. Covering multiple fields such as intangible cultural heritage, cultural relics, art, sports, fashion, animation, film and television, we have completed the whole process of traditional IP from excavation, secondary creation, digital collection issuance to value discovery.