China Daily Newspaper Plans to Enter the Metaverse and NFT Space with a $390,000 Investment

In a significant move that underscores the growing importance of the metaverse and nonfungible tokens (NFTs) in the media industry, China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, has announced its ambitious plan to create its very own metaverse and NFT platform.

The announcement, made on September 25, 2023, outlines a budget of 2.813 million Yuan (approximately $390,000) allocated to a third-party contractor tasked with designing the NFT platform. China Daily is actively seeking bidders for this project, welcoming both Chinese and foreign firms with expertise in blockchain technology.

Key details of the project, officially titled “中国日报社元宇宙业态产品研究及建设项目” (China Daily Metaverse Business Product Research and Development Project), have been made public in the bid solicitation notice. The project includes four main service components:

  1. 中报数藏发行平台建设 (Construction of the Mid-term Digital Collection Issuance Platform): This involves the development and launch of a platform for issuing digital collections.
  2. 境内外NFT数字藏品创意开发和推广 (Domestic and Overseas NFT Digital Collection Creative Development and Promotion): This service will focus on the creative development and promotion of NFT-based digital collectibles, both domestically and internationally.
  3. AR/VR作品创意开发和推广 (AR/VR Work Creative Development and Promotion): The project aims to foster the development and promotion of AR and VR content.
  4. 元宇宙空间创意构建和推广 (Metaverse Space Creative Construction and Promotion): This component will involve the conceptualization, development, and promotion of creative spaces within the metaverse.

The timeline for project completion is as follows:

  • The Mid-term Digital Collection Issuance Platform must be completed within three months of contract signing and formally launched.
  • For domestic and overseas NFT digital collection creative development and promotion, each individual NFT collection must be developed and launched within one month of confirming its form.
  • AR/VR work creative development and promotion services require the completion and launch of individual projects within two months of content and form confirmation.
  • Metaverse space creative construction and promotion services necessitate the planning, layout, development, and launch of individual spaces within two months of confirming their thematic content.

Importantly, this project does not accept joint bids, meaning that companies must submit individual proposals.

The qualification requirements for bidders are stringent, aligning with the regulations outlined in the “中华人民共和国政府采购法” (Government Procurement Law of the People’s Republic of China). Bidders must also adhere to government procurement policies and specific eligibility criteria.

Interested parties have until October 8, 2023, to purchase bid documents, and the bid submission deadline is set for October 17, 2023, at 13:30 Beijing time. The bid opening will take place at the New Zhou Business Building, Room 302, No. 58 Fucheng Road, Haidian District, Beijing, China.

This announcement, which provides a glimpse into China Daily’s ambitious foray into the metaverse and NFT space, comes at a time when global interest in these technologies is on the rise. The media industry is increasingly exploring innovative ways to engage with audiences, and China Daily’s initiative highlights the growing relevance of the metaverse and NFTs in shaping the future of journalism and content creation.

For inquiries regarding this bidding process, interested parties can contact the relevant personnel listed in the announcement, including representatives from China Daily, the procurement agency, and the project team.

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