Chinese technology giant, Tencent, has recently entered a partnership with the Dunhuang Academy to digitalize the landmark wall paintings of the Mogao Caves in the Gansu province of China. This has marked a move of China in the space of NFTs in a localize way where crypto native features are eliminated.
Tencent made an announcement on Wednesday regarding its recent partnership with the Dunhuang Academy in order to digitalize the landmark wall paintings of a UNESCO world heritage site, the Mogao Caves in the Gansu province of China.
Talking more about the partnership, this project is the first move of the technology firm into the NFT market in its bid to use Blockchain technology in a charity cause to safeguard and promote cultural heritage.
As revealed, Tencent targets to issue 9,999 pieces of NFTs on its respective blockchain called Zxinchain that each digitalizes a distinct painting from the Mogao Caves. From Wednesday, the users on the WeChat messaging app of Tencent can win the chance to get one NFT by taking a short quiz about the site and can display the digital card as a social status within the WeChat ecosystem.
The firm revealed in an exclusive interview that for each issuance, the charity arm of Tencent will make a donation to the Dunhuang Academy and the total donation is around 4 million yuan or over half a million US dollars.
The leader at the Dunhuang project at Tencent, Fino Feng said that around 380,000 people have taken part in the quiz as of Friday and all of the NFTs have been issued. Feng said:
"We want to use blockchain technology to break through the silos and bring more awareness to the protection of cultural heritage. NFTs can be that digital carrier for our traditional culture and bridge it with the people."
In addition to this, the Product Director at Tencent Blockchain, Qin Qing revealed that at present, the issuance happens only on the primary market level, and in that, the users won’t be able to trade the NFT like what they can generally do with the Digital Arts on OpenSea. Qin said:
"Since Tencent issues it in the primary market, we can't launch a secondary marketplace ourselves. But even with a secondary marketplace, it will only deal with fiat currency... and we obviously won't encourage flipping and speculative activities."