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Bored Ape Yacht Club will be showcased by China’s sports brand Li Ning

Li Ning, a renowned Chinese sportswear and equipment manufacturer based in Beijing, is planning to develop a line of clothes with photos of the Bored Ape Yacht Club #4102, as part of its strategy to capitalize on the growing popularity of non-fungible tokens (NFTs).

The company said Sunday on Weibo, China’s Twitter-like microblogging platform, that it will sell T-shirts and caps with prints of the BAYC graphic.

According to a report to the Hong Kong Stock Exchange last week. Of course, the brand’s retail sales increased roughly 30% year over year in the first quarter of this year.

Anta, a Chinese sportswear firm, an official partner of the Beijing 2022 Winter Olympics, joined the NFT space this year. That’s, by releasing a series of digital collectibles featuring the national athletic team.

Although China has yet to establish clear restrictions for NFT trading. The state media have published opinion articles warning of hype and exaggeration that could harm the market’s development.

China’s banking and securities lobbyists urged members to “resolutely halt” the “financialization and securitization” wave of NFTs earlier this month.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.