McDonald’s in China to Reward NFTs to Employees & Customers in Commemoration of 31st Anniversary October 10, 2021 October 10, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 10, 2021 by Kelly Cromley

McDonald’s in China to Reward NFTs to Employees & Customers in Commemoration of 31st Anniversary

On October 8, fast-food giant McDonald’s China issued a batch of 188 nonfungible tokens (NFT) to commemorate its 31st anniversary in the domestic market. The NFTs, dubbed “Big Mac Rubik’s Cube,” will be given to staff and customers as a portion of the promotion.

The Big Mac Rubik’s Cube NFTs are modeled on the three-dimensional design of McDonald’s China’s latest office headquarters, which opened alongside the NFTs.

The NFTs are developed in collaboration with Cocafe, a crypto currency development firm, and are based on the Confluux public blockchain, guaranteeing that “each work is distinct, inseparable, and cannot be altered with.”

It is also worth noting that CITIC Group, a People’s Republic of China state-owned investment firm, has a controlling interest in McDonald’s China.

McDonald’s China’s decision to allow NFTs into the market seems to contradict the government’s intention to outright prohibit all cryptocurrency activities.Of late the prohibition compelled Bitmain, a producer of cryptocurrency mining equipment, to halt the shipment of Antminer mining rigs to China.

Huobi, a Chinese cryptocurrency exchange, halted new client enrollment after the China prohibition and plans to cease all operations by the end of 2021. Notwithstanding China’s opposition, the worldwide cryptocurrency environment continues to expand at a steady pace. Interestingly, the complexity of mining Bitcoin (BTC) has completely returned after Chinese miners relocated to secure countries.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.