Visual China Group (VGC), China’s leading stock image provider, has developed a non-fungible token (NFT) marketplace that accepts Ethereum payments from customers outside of mainland China. The tool, named “Vault by 500px,” launched its beta edition on Wednesday and is supposed to give “a new source of income for manufacturers,” according to 500px, an online photo-sharing site. 🇨🇳VCG, China’s largest stock image provider, has started an NFT marketplace that lets users outside of mainland China pay with $ETH. China banned crypto transactions in September but has yet to set clear regulations on NFT trading.https://t.co/PNJGYhIwQs — Forkast News (@Forkast_News) May 27, 2022 500px, which VGC acquired in 2018, has listed several NFTs for sale on the new platform, the most expensive of which is 0.71 ETH (US$1,266) at the time of publication. “We help creators be part of a growing and engaging community while allowing them to mould their work and exist as NFT,” 500px said on Wednesday. Supplier of stock images worldwide Last week, Getty Images announced the introduction of an NFT marketplace and digital collectibles on the Palm sidechain, which is built on the Ethereum virtual computer. China outlawed cryptocurrency trading in September, but the country has yet to establish clear guidelines for NFT trading. However, the flipping of NFTs has been challenged in China by state-backed organizations. Despite Beijing’s rhetoric against N...
