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MangoTV NFT, a Chinese video streaming service, sells out in seconds

On Monday, MangoTV, a Chinese video streaming platform with 50.4 million members, debuted its non-fungible token (NFT) marketplace, with the first batch of collectibles selling out in seconds.

MangoTV, which is operated by the Hunan Broadcasting System and has 204 million monthly active users. Of course, is China’s fourth most popular streaming platform.

Users must be at least 14 years old to purchase NFTs on MangoTV’s platform. That’s, as long as they offer actual names, ID numbers, and facial authentication.

The platform does not allow for the resale of NFTs.

Since state media lashed out at the speculative nature of NFTs, both commercial. Then, and public-owned NFT markets in China have implemented self-regulation on their platforms.

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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.