Shanghai residents mint NFTs to document COVID-19 lockdown

The residents of Shanghai, China, are now using blockchain to document the COVID-19 lockdown that lasted for a month. The residents are minting photos, videos and other pieces of art that showcase what they are going through.

Shanghai residents mint NFTs to document lockdown

The residents of Shanghai have been unable to leave their homes for several weeks now. The over 25 million residents in the city have been using the internet to vent their frustrations about the lockdown effects, including the inability to access food and medical care.

The Chinese regulators have been increasing their online censorship strategies to prevent these messages from being circulated online. According to the government, the online stories were rumours stirring more frustrations among the public.

However, some people have defied the censorship and have continued to repost their ordeal during the lockdown period. Some have now turned towards NFTs to mint the records of what they have been going through. Most of the minted NFTs are related to “The Voice of April” video that records outcries from multiple Shanghai residents.

More than 786 NFTs related to this video have been listed on the NFT marketplace alongside several other items that depict the ongoing situation in Shanghai. China has one of the toughest censorship laws, and Twitter, like most social media platforms, is banned in the country.

One of the residents that has minted NFTs to document the lockdown memories is a programmer based in the city, who went on an interview with Reuters, saying he had minted an NFT of the COVID-19 lockdown map. The map showed how a huge section of Shanghai has been barred from accessing the outside world.

Besides videos and images, the other related content listed on the OpenSea marketplace includes Weibo posts that complain about the lockdown and images of people detained in quarantine areas. Some artworks have also been featured to show how life is under lockdown. One freelance designer based in the city has managed to sell nine NFT pieces at an average price of 0.1 ether, valued at $290.

NFT regulations in Shanghai

Last year, China banned cryptocurrencies and declared these assets illegal. However, the government did not extend this ban to NFTs, and they remain largely traded in the country. However, China does not allow the use of NFTs for speculative purposes, saying that their prices are unstable and carry a high amount of risk.

Some of the leading media companies in the country, including Tencent Holdings and Ant Group, have embraced NFTs under tight laws. The companies usually block the accounts of users believed to be trading NFTs for price speculation.

Besides NFTs, China is also positive about blockchain technology. The country has taken several initiatives depicting it is supportive of this technology surrounding cryptocurrencies. The country is ranked as one of the most advanced in developing central bank digital currencies (CBDCs).