As a product emerging in the metaverse context, the digital collectibles industry brings together many new elements such as blockchain, representing the future industry of integrated innovation and application of a new generation of information technology.
Despite its controversial journey, with some calling it electronic trash or a tax on intelligence, and unscrupulous individuals using it for fraud, leading to a shady atmosphere in the industry, the digital collectibles industry has often found itself in hot water. Fortunately, many industry practitioners have been persistently pushing forward, allowing the industry to continuously progress.
In the past June, the digital collectibles industry witnessed two significant events.
Firstly, on June 21, the “Operational Service Requirements for Digital Collectibles Platforms” group standard was officially implemented! Led by the top digital collectibles platform iBox, with collaboration from Beijing Jinguyuanjian Technology Group Co., Ltd., and China Media University, this group standard aims to regulate and guide the operation services of digital collectibles platforms, providing comprehensive standards for their operations.
The group standard “Operational Service Requirements for Digital Collectibles Platforms” stipulates the operation of digital collectibles platforms from aspects such as basic requirements, service content, basic guarantees, service evaluation, and improvement. With the digital collectibles industry booming in recent years and the increasing number of platforms, the introduction of group standards was imperative. The implementation of this group standard will undoubtedly contribute to the standardized operation of platforms and facilitate the orderly and healthy development of the industry.
Secondly, on June 24, the China Consumers Association invited six entities to sign the “Self-Discipline Code for Legally Compliant Operation of Digital Collectibles.” These entities, including Ant Group, pledged to adhere to business ethics, conduct operations with integrity and compliance, staunchly resist illegal speculation, protect intellectual property rights, fulfill platform responsibilities, and guide buyers to make rational purchases.
The market supervision department stated that the signing of this self-discipline code is an important step towards standardizing and legalizing the digital collectibles market, as well as a crucial measure to protect consumer rights and promote the healthy development of the industry.
The signing of this self-discipline code not only enhances the overall competitiveness of China’s digital collectibles industry but also demonstrates China’s responsibility and commitment in the global digital economy development.
During the initial stages of industry exploration, disorder is common, but it is undeniable that, despite the challenges, the future looks promising.
Whether it is the group standard for digital collectibles formulated by iBox or the self-discipline code endorsed by entities like Ant Group (whose digital collectibles platform Whaletan is involved), they indicate that the leading platforms in the digital collectibles sector are striving to lead the industry towards a brighter future. By enhancing industry self-regulation and oversight, we believe that China is likely to achieve higher quality and sustainable development in the field of digital economy.
The responsible individual from iBox also stated that with everyone’s concerted efforts, the industry will certainly move towards a more regulated direction, and in the future, iBox will continue to contribute to the industry’s development.
