MangoTV will be the First State-Owned Firm to Operate an NFT Marketplace

MangoTV takes a step into NFT space

Chinese state-owned media company MangoTV is set to launch its own NFT platform in mid-March which is built on Guangmang Chain, the company’s own blockchain.

MangoTV will be the first state-owned firm to operate an NFT platform if the NFT marketplace launch proceeds as planned.

While NFTs are extremely popular across the world, Chinese restrictions prevent NFT users from trading with one another. Mango TV’s digital collectibles will supposedly be built on the company’s current IP holdings, however, the firm is open to collaborating with new IP partners.

The marketplace’s users must be at least 14 years old to purchase NFTs on MangoTV’s platform, as long as they provide actual names, ID numbers, and facial authentication. NFT resales are not permitted on the platform. 

Mango TV was established in 2006, and it is controlled by Hunan Broadcasting System, a Chinese state-owned media company. This company specializes in curating online videos and is the fourth most popular streaming platform in China, with 204 million monthly active users and 50.4 million subscribers.

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