Tencent

The launch comes just weeks after Chinese authorities began accepting applications for public-facing AI systems.

Despite heavy government regulations and ongoing struggles with hardware sourcing, Tencent’s large language model has been released for business use in China.

Everledger was quietly placed into insolvency after it didn’t manage to materialize its planned funding round from an undisclosed investor.

The Chinese internet giant is launching new Web 3.0 solutions including a Metaverse-in-a-Box product and blockchain API services.

While NFTs are not banned in China like cryptocurrencies, the government has warned against fraud risks associated with the nascent sector.

NFTs are still a gray area in China where, unlike cryptocurrencies, there’s no official ban on their use but the authorities have warned investors against the risks from time to time.

WeChat removed several accounts for digital collectible platforms for violating the policy of illegal trade, while Ant Group and Tencent-owned NFT platforms updated their user agreements.

The company’s valuation grew from just $410 million in 2021, reflecting the rapid expansion of the NFT economy.

The local news publication, acting as the party's spokesperson, warned of a major decrease in the value of NFT assets once its bubble pops.