McDonald’s Goes into NFTs in China

 

Fast food retail giant McDonald in China has entered into the world of cryptocurrency as it launches its NFT collections.

McDonald’s China in celebration of its 31 years anniversary since it first set up shop in the mainland has released a collection of 188 digital collectives which will be distributed to employees and consumers to mark the anniversary.

Zhang Jiayin, McDonald’s China CEO in said the company is a young and trending brand that always pays attention to fashion trend and cutting-edge technology. He calls McDonald as the first local brand to release an NFT collection.

The venture into NFT which is crypto comes at such as time when the Chinese government has been showing aggression towards anything crypto.

In July, the Chinese Central Bank Deputy Governor called cryptocurrency speculative tools. He said cryptocurrency threaten financial security and social stability.

Cryptocurrency miners were one of the first to be hit by the aggression towards crypto by the Chinese government. CryptoTvplus also reported that cryptocurrency businesses in China had begun cancelling their operations in the nation.

It is quite an interesting that McDonald China is making a play into cryptocurrency in this hostile region.

McDonald China is not the first of McDonald’s global fast food organization to venture into NFTs. In early Q2, McDonald’s France, released digital collectibles depicting pixelated versions of Big Macs, Chicken McNuggets and Ice Cream sundaes.

While China has been recently showing increased aggression towards businesses, just over a year ago, it boasted of establishing over 10,000 new blockchain companies despite the coronavirus pandemic. What is the end game of China’s play?

McDonald’s China will distribute the collectives to its customers and works.

What do you think of this story? Share your comments below.