DeFI News by Thebittimes.Com

Source: Lucas/Adobe The Chinese government has announced plans to launch its own version of a state-backed “non-fungible token (NFT)” market place . But Beijing won’t be using blockchain to power its platform. And it wants to do away with crypto as the market place ’s currency – in favor of fiat. Last month, the Hangzhou Internet Court ruled that virtual items such as NFTs can be legally recognized as property. And now, the China Daily reported, Beijing will launch the China Digital Asset Trading Platform (literal translation). The government says that the platform will go live on January 1. Beijing says it will become an official “secondary market for digital assets that comply with national regulations.” China has effectively banned crypto trading. And that has meant that conventional NFT trading has become almost impossible in the nation. In the rest of the world, NFTs are minted on blockchain networks, where they can be t...

Source: Helloimmorgan / Twitter The recently-released non-fungible token (NFT) collection by the controversial figure and the former president of the United States, Donald Trump, is being heavily criticized over its poor quality and editing, potential AI generation, and using brand-owned and stock images - among other things.  There are two major accusations leveled against Trump and the team behind the collection: the images used for the collection were taken directly from the internet, created by other people, and are of poor quality; the photoshop is badly done, or an AI image generator was used. For example, there is an image of Trump as a duck hunter (or something akin to it), in an outfit very similar to the Branded "ASPIRE Collection – CATALYST All-Season Breathable Wader".  Besides allegedly using brands' outfits in the collection, there are accusations that Shutterstock images were used as well. Not only that, but the job was so badly done ...