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McDonald’s China launches NFT set despite crackdown

October 11, 2021

McDonald’s China has released a non-fungible token (NFT) collection in celebration of its 31 years in the Chinese market. The NFT set, dubbed the Big Mac Rubik’s Cube, will be given away among employees and customers to celebrate the anniversary.

McDonald’s China releases new NFT collection

The NFT itself is designed after the structure of the headquarters office in China, set to be introduced with the NFT collection. Teaming up with digital asset design agency Cocafe, McDonald’s has built the Big Mac Rubik’s Cube NFTs on the Confluux network. As part of the blockchain, each NFT will be unique and indivisible. With the transparency of the network, the work will also be untamperable and will remain as designed.

Recently China has cracked down on more Bitcoin and cryptocurrency trading activity. The most recent ban has meant that Bitmain, one of the industry’s leading mining manufacturers, has had to stop the distribution of equipment to China. Previously, the country was one of the top mining regions in the world. While the crackdown might have an adverse immediate effect on mining and trading activity, the ban might not be a bad thing for cryptocurrency trading in the long-term. Edward Snowden recently noted that Bitcoin only comes back stronger when it is banned and that the decentralised asset seems to have an inherent ability to thrive despite anti-cryptocurrency regulations.

While NFTs might not have the same ban as Bitcoin in China, they still are founded on the same transparent, decentralised blockchain technology.  Interestingly, McDonald’s China is held in majority by the state-owned CITIC Group. As an investment firm of the People’s Republic of China, the company is managed in regulation by the government. Despite this, a major move towards non-fungible tokens for the company will go ahead as planned. Whatever happens following the launch remains to be seen.

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